Citigroup stock still looks on track to double in the next four years, CLSA's Mike Mayo says.» Read More
New speculation puts the Citigroup (C) firings at a possible 45,000 - that's 14% of the world's largest financial institution's workforce. Is a move of this magnitude enough to jump start a stock that's gone nowhere in seven years, or will CEO Chuck Prince find himself on the chopping block?
Charles Crane, managing member of Scotsman Capital Management, told CNBC’s “Squawk on the Street” that investors should look past current market turmoil and go long in solid stocks.“Market turbulence such as we’ve been witnessing for the past several weeks is typically characterized by a lot of anxiety, often born of some fundamental events such as the sub-prime worries that are cascading through the economy,” Crane said Wednesday.
Apple’s Co-Founder and Chief Executive Steve Jobs is the “ultimate CEO who matters,” according to a ranking by Barron’s magazine. The annual ranking of top CEOs from around the world seeks to identify the corporate leaders who have top-notch reputations in the financial community and would be missed by investors if they unexpectedly left their jobs.
Fears that turbulence in the high-risk mortgage market would spread eased on Wednesday after two lenders managed to secure enough money to stay afloat. "That consolidation effort makes it less of a contagion," said Mark Ficke, head of U.S. government bond trading at BNP Paribas.
New Century Financial's shares fell to an eight-year low on Friday, after analysts said the largest independent U.S. subprime mortgage lender, which faces a criminal probe and has stopped making new loans, may soon seek bankruptcy protection.
Mark from Indiana asks about gold and silver. He wants to know what Eric Bolling thinks about the copper producers and in particular Freeport-McMoRan (FCX) after they complete the Phelps Dodge (PD) merger. Eric says...
If there’s one thing that Cramer has learned from spending years and years at a trading desk, it is that rumors – more often than truths – drive bad markets. But overextended rumors can portend a rally, just like the one we had today. Here’s how you play the game so you don’t get played.
Ted Parrish says investor risk hasn't really increased -- merely the "perception" of it. So the co-portfolio manager at Henssler Equity Fund says the key to riding the volatility wave is understanding that risk perception -- and hunting for perceived "stability."
It's fitting that billionaire investor Warren Buffet is from Nebraska, a state known for the slogan, "The Good Life."
If you were trying to access your online brokerage account during Tuesday’s market nosedive – or even earlier today -- you may have encountered some trouble.
Two analysts told CNBC's Dylan Ratigan not to fear the credit crunch that may follow problems in the subprime mortgage lending market. Just today, home lender Novastar Financial said it lost more than $14 million in the fourth quarter ahead of expected mortgage defaults. And Wells Fargo is axing some 320 subprime jobs after tightening its lending policies.
Billionaire Warren Buffett's holding company Berkshire Hathaway revealed Wednesday that it bought $774.3 million in U.S. Bancorp stock last year, adding to the bank holdings already in the company's $52.8 billion stock portfolio.
Stocks in the U.S. are seeking direction and are looking mostly higher in mixed action ahead of the open. Earnings news from big names like Intel and J.P. Morgan are making headlines, and the markets are watching for PPI inflation data this morning and the Fed's Beige Book at 2 pm. Oil slumped below $51 a barrel this morning after a deep slide yesterday.
The Dow closed at a record for the third straight session and Nasdaq fell slightly as investors bought selectively ahead of earnings reports and on a steep drop in oil.
Wells Fargo said fourth-quarter earnings rose 13%, helped by growth in consumer and business lending.
Wells Fargo and U.S. Bancorp, the fifth- and sixth-largest U.S. banks, reported higher quarterly profits, helped by growth in business lending and fee-generating units.
Lots of corporate headlines are already getting attention ahead of the open. Stocks in the U.S. are lining up to open higher at this point, and earnings will be the big focus. After making gains yesterday, European stocks are mixed with a flattish performance, and Japanese stocks were little changed to the downside.
Financials and techs, two groups that pulled in the money last week, will be out in front of the news this week when earnings season is in full swing. Markets will also be watching key economic data, a parade of Fed speakers and whatever side show goes on when oil markets reopen, after last week's near six percent slide in crude.
Nearly a fifth of consumers with bad credit who borrowed money to buy a house in the past two years will default on their mortgages and lose their homes, an industry survey projects.