When CIT Group declared bankruptcy in 2009, it became the only company that accepted a bailout, but failed to return the government’s money. Taxpayers were on the hook for $2.33 billion, creating further need for government policing.
Standard & Poor’s issued a warning on Thursday to big banks itching to increase their dividends: proceed with caution, the New York Times reports.
The cellphone has been more than a cellphone for years, but soon it could take on an entirely new role — standing in for all of the credit and debit cards crammed into wallets. Instead of swiping a plastic card at the checkout counter, consumers would merely wave their phones, the New York Times reports.
As the Baby Boomers head off into retirement, banks will begin prizing their Gen Y customers even more because as a group they will outearn both Gen X and the Boomers within the next 10 years. This means this group—currently aged 12 to 32 years old—will shape the products banks are offering their customers, said Mark Schwanhausser, an analyst at Javelin Strategy and Research.
Stocks ended after after an afternoon rally as materials and retail stocks rose, despite ongoing conflicts in the Middle East, and uncertainty about the outcome of the nuclear disaster in Japan. Alcoa rose, while BofA fell.
Stocks climbed in mid-afternoon trading Wednesday as materials and retail stocks rose, despite ongoing conflicts in the Middle East, and uncertainty about the outcome of the nuclear disaster in Japan. Alcoa rose, while Bank of America fell.
This round was all about the stocks traders love to hate. We're talking about the financials. Which stocks advanced and which went down?
Stocks ended down, after trading in a narrow range throughout much of the session Tuesday, as investors took a breather from a three-day rally amid rising oil prices and ongoing turmoil in Libya and the Middle East. Bank of America and GE fell, while Verizon rose.
Stocks traded slightly lower, and in a narrow range throughout much of the session Tuesday, as investors took a breather from a three-day rally as oil prices rose amid ongoing turmoil in Libya and the Middle East. GE and Bank of America fell, while Verizon gained.
Stocks turned lower as oil prices gained amid continuing unrest in the Middle East and North Africa. Verizon and Boeing rose, w hile Bank of America fell.
Stocks pared gains in the final hour of trading Monday, but remained significantly higher, buoyed by AT&T's $39 billion planned purchase of Deutsche Telecom's T-Mobile USA and buying opportunities in oversold stocks. Boeing and GE led gainers, while Pfizer fell.
As oil prices surge above $102 a barrel after UN forces strike Muammar Gaddafi forces on Monday, the airline "industry is much more smart and disciplined to deal with this rising cost of energy," David Barger, CEO of JetBlue Airways, told CNBC on Monday.
See what's happening, who's talking and what will be making headlines on Monday's Squawk on the Street.
Google became the world's most valuable brand this year, while Coca Cola dropped out of the top ten global brands for the first time, according to the 2011 Brand Finance ranking of the most valuable 500 brands across the globe.
Stocks ended off the highs of the day on Friday, and lower for the week, amid a still uncertain global environment rocked by uncertainty in the Middle East and Japan, although bank stocks got a lift as institutions began announcing dividend increases. JPMorgan and Caterpillar rose, while Travelers fell.
Stocks traded off the highs of the day before the close amid a still uncertain global environment rocked by uncertainty in the Middle East and Japan, although bank stocks got a lift as institutions began announcing dividend increases. JPMorgan and Caterpillar rose, while Travelers fell.
Whenever Wall Street gets news it expected the risk is always for a selloff, as traders generally price in the development ahead of time and then take profits.
If your instinct is to sell banks on the news, Fast Money trader Joe Terranova thinks you've got it all wrong.
After receiving permission from the Federal Reserve, several major banks including JP Morgan Chase and Wells Fargo have raised its dividends, which is a start and a step in the right direction, but well below where we've been," Jill Evans, portfolio manager Alpine Dynamic Dividend Fund, told CNBC on Friday.
The Fed’s bank stress tests long have been thought of as little more than a pro forma exercise to let Wall Street’s lucky and leveraged start to increase dividend payouts, but the lists of winners and losers could get interesting.