Morgan Stanley delivered quarterly earnings and revenue that surpassed analysts' expectations on Thursday.» Read More
NEW YORK, April 17- Morgan Stanley's big bet on wealth management is looking strong as fees, commissions and interest collected by its more than 16,000 brokers fueled a 13 percent rise in the business's first-quarter net income from a year earlier to $423 million, the company said Thursday.
The market appeared set Thursday morning for its fourth-consecutive positive open this week, but immediately turned negative as investors sold shares in Google and IBM. Earnings from toy maker Mattel and insurer UnitedHealth also dragged down the market. While big drops in IBM and UnitedHealth helped keep the Dow Jones industrial average in the red.
NEW YORK, April 16- Citigroup Inc, which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis. Of the top six U.S. banks, only Citigroup and Wells Fargo& Co do not allow investors to listen to live audio from their annual meetings.
Bank of America Corp. fell$. 26 or 1.6 percent, to $16.13. Citigroup Inc. fell$. 13 or. 3 percent, to $48.18. Goldman Sachs rose $2.30 or 1.5 percent, to $157.22.
NEW YORK, April 16- Bank of America's wealth management businesses slowed in the first quarter, with profit at its Merrill Lynch brokerage and U.S. Trust private banking units slipping 6.5 percent to $729 million from $777 million in the last quarter of 2013..
April 16- Abbott Laboratories Inc reported better-than-expected quarterly earnings on Wednesday, but combined sales of its nutritional products, medical devices and generic medicines were slightly below Wall Street expectations.
Bank of America Corp. fell$. 40 or 2.4 percent, to $16.00. Citigroup Inc. fell$. 57 or 1.2 percent, to $47.74. Goldman Sachs rose $1.33 or. 9 percent, to $156.25.
April 16- Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently.
April 16- Yahoo Inc's shares rose as much as 9 percent in heavy trading on Wednesday, a day after Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, reported a surge in quarterly revenue. At least nine brokerages raised their price targets on Yahoo's shares ahead of Alibaba's IPO filing, expected next week.
Bank of America Corp. fell$. 46 or 2.8 percent, to $15.94. Citigroup Inc. fell$. 66 or 1.4 percent, to $47.65. Goldman Sachs rose$. 67 or. 4 percent, to $155.59.
Yahoo and Delta Air Lines were among the companies posting big gains. Stocks started climbing from the opening bell on Wednesday as investors cheered the latest quarterly earnings report from Yahoo. The Web pioneer reported late Tuesday that it is making most of its money from its stakes in two Asian Internet companies: China's Alibaba Group and Yahoo Japan.
April 16- Alibaba Group Holding Ltd's surprise surge in revenue and its upcoming IPO present a great opportunity for investors to load up on Yahoo Inc's shares, analysts said. Yahoo's shares, which have jumped 43 percent in the past year as CEO Marissa Mayer pushed ahead with her turnaround plan, were up 7 percent at $36.70 in premarket trading on Wednesday.
Ex-Galleon trader Turney Duff offers an insider's view of how learned about Wall Street's dirty little secret: insider trading.
"It looks like it's an operating beat, but they got there probably like no one thought they would," Raymond James analyst Anthony Polini told CNBC.
WASHINGTON, April 16- A U.S. government watchdog on Wednesday warned that big banks have dramatically boosted their borrowing from a federal housing finance program, a move that could pose risks to the government-sponsored system if a big borrower defaulted.
In his quest for stock ideas, Jim Cramer often turns to entrepreneurs on the cutting edge.
Bank of America Corp. rose$. 23 or 1.5 percent, to $16.00. Citigroup Inc. rose $1.99 or 4.4 percent, to $47.67. Goldman Sachs rose $2.02 or 1.3 percent, to $154.74.
U.S. stocks rose on Monday, with equities rebounding from the S&P 500's worst week since 2012.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. Advanced Micro Devices Inc. rose 1.6 percent to $3.71 with 22,506,600 shares traded. Alcoa Inc. rose 2.6 percent to $12.86 with 29,500,100 shares traded.
Bank of America Corp. rose$. 25 or 1.6 percent, to $16.02. Citigroup Inc. rose $1.86 or 4.1 percent, to $47.54. Goldman Sachs rose $2.16 or 1.4 percent, to $154.88.