Complete transcript and video of Warren Buffett's live appearance on CNBC's Squawk Box this morning (Monday). He tells Becky Quick the U.S. economy is "very slow" and "getting slower" but he remains optimistic the economy will turn around eventually.
Uncertainty over bank stress testing and the billions in loan losses the institutions will have to cover poses a threat to the stock market rally.
Stock futures are set to begin May just slightly higher this morning. This comes off the heels of one of the best months in several years for the S&P 500. Most European bourses are closed today due to the May Day holiday.
Stocks opened higher Wednesday and continue to climb mid-morning — despite a glum GDP report — amid glimmers of health in financials. As everyone waits for the results of the banks' stress tests, analyst chatter is focusing on the regionals. David Faber has more.
As of yesterday, over 40% of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
CNBC's David Faber dissected SunTrust Banks and Fifth Third Bancorp earnings — and said the regionals may take a "bigger hit" from the stress tests than the big financials will.
In a conversation published today focusing on why he likes Wells Fargo, Warren Buffett told Fortune's Adam Lashinsky: "We own stock in four banks: USB, Wells, M&T, and SunTrust." That raised a question. What about the five million Bank of America shares owned by Berkshire Hathaway as of the end of last year? We now have the answer to the 'mystery' of the 'missing' B of A shares, straight from Buffett himself.
Warren Buffett says you should judge a banker by how they bank, not by their speeches or PR: "It's what they do and what they don't do. And what Wells (Fargo) didn't do is what defines their greatness." Buffett tells Fortune's Adam Lashinsky that Wells didn't do "dumb things" just because all the other banks were doing them.
On the heels of better than expected earnings from Citi and BB&T most banks are trading on the upside today. Following upside surprises from JP Morgan, Goldman Sachs, and Wells Fargo, bank stocks are again posting gains for the week.
Careful here: the market is showing signs of ignoring bad news (CEOs are consistently talking down expectations) and jumping all over any glimmer of good news.
Banks were hurt by a recent report by Mike Mayo, Cramer tells you why you should pay no attention to it, and points out the best and the worst in the sector.
Stocks fell Monday amid doubts over the health of the banking industry and the apparent collapse of a major deal in the technology sector.
Following a 4-week rally the markets traded lower as of midday Monday, weighed by on-going concerns over the health of the financial sector. Despite four weeks of steep gains, financials, industrials, and utilities companies remain deep in the red year-to-date, recording losses over 10%. Which are the worst/best performing companies?
Many of the recent fixes in the financial sector are merely "window dressing" and problems still persist in the banking sector, says veteran baking analyst Michael Mayo.
Fifth Third Bancorp was one of a long list of regional banks that had been practically left for dead, but yesterday (Tuesday) its shares spiked nearly 18 percent with heavy options activity.
The S&P Financials Sector is now up ~60% since March 6. Given this huge run, it looks like the shorts are back. Here is a look at how the short interest in these beaten companies has changed over time.
Financials seem to be a four-letter word these days, but there’s one area of the sector that generally has fared better than the “too big to fail” segment: regional banks. Here's the explanation — and a way to play the trend.
Warren Buffett's bullish comments on banks, especially Wells Fargo and U.S. Bancorp, during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio.
Stocks ended a yo-yo session lower Tuesday, with the S&P ending a few points below the 700 mark as investors remained on edge.
Stocks wobbled Tuesday as worries that sent stocks to 12-year lows on Monday persisted.