After the close yesterday, RBC Capital put out a note: "Next Credit Shoe to Drop on Banking Industry: We believe commercial and industrial loans (C&I), commercial real estate and non-resi construction loans will be the next credit problems for the banking industry brought on by the weakening in the US and Global economies."
Following are the day’s biggest winners and losers. Find out why shares of Citigroup and Disney popped while United Airlines and U.S. Steel dropped.
Does a $2 billion debt sale by Mr. Mac put these stocks back in the buy column?
Fannie Mae and Freddie Mac soared Monday on optimism a government bailout may not be inevitable. But banks with big holdings in the stocks still tanked.
Some traders are also turning bullish. John Mendelson of the Stanford Group issued a buy signal late in the day; traders tell me it was his 3rd buy signal in 5 years, and the prior two calls were very good.
This dip won't last forever. Here's Cramer's take on the bounce-back.
Stocks reversed what had been a down session Friday, with the Dow Jones Industrial Average rising on a CNBC report that progress is being made on a recapitalization plan that could save troubled bond insurer Ambac Financial's triple-A rating.
A weak sales and job-cut announcement from Macy's and comments from a Federal Reserve official put a damper on the stock market's bounce.
Wall Street advanced sharply Monday, with solid preliminary results from IBM encouraging investors to go back into the stock market. What's the word on the Street?
Stocks closed sharply higher after IBM's improved outlook kicked off a market rally.
M&T Bank and Sovereign Bancorp, two of the largest banks in the eastern United States, said on Monday turmoil in credit, mortgage and real estate markets hurt fourth-quarter results.
The strength of the euro could push this country back into the world prominence it knew after Columbus discovered the New World.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
“They’re pulling themselves out of the market to regroup,” is what one of my mortgage broker buddies told me on the phone this morning when I asked how in the heck Wells Fargo could raise rates on a 30-year jumbo fixed rate mortgage from 6 7/8% to 8% overnight. A jumbo is anything over $417,000, and given today’s home prices, that’s going to hit an awful lot of borrowers.
A tough operating environment for U.S. banks, especially smaller ones, is likely to drive more of them to seek mergers this year in an effort to improve profits. Through the second week of May, there were 21 U.S. bank and thrift mergers involving sellers with assets of at least $500 million in 2007, according to analysts at Keefe, Bruyette & Woods.
Next week will bring a huge pile of earnings, but the guys want you to ignore most of them. Keep your eyes on the regional banks, which will help paint the bigger picture of the subprime story, and internet names like Yahoo.
Sovereign Bancorp, the nation's second largest savings and loan, posted a fourth-quarter loss, hurt by charges for a balance sheet restructuring and severance costs for ousted Chief Executive Jay Sidhu.