The pressure is on for those earnings to support the market's current valuations, after weeks of choppy trading.» Read More
The city of Providence, Rhode Island, is suing dozens of Wall Street banks and other financial companies over high-frequency trading
The city of Providence, Rhode Island, is suing dozens of Wall Street banks and other financial companies over high-frequency trading. The federal complaint was filed Friday in New York on behalf of city investment funds that traded stocks in the U.S. since April 18, 2009.
NEW YORK, April 18- Dozens of the largest U.S. stock exchanges, brokerages and high-frequency trading firms were hit with a class action lawsuit by the capital of the state of Rhode Island, accusing them of manipulating the U.S. securities markets.
April 17- A year ago, soon after Morgan Stanley posted disappointing quarterly earnings, Chairman and Chief Executive Officer James Gorman told board members the bank was on the right track and investors who sold shares had made a mistake. Morgan Stanley posted a 55 percent gain in first-quarter profit.
WASHINGTON, April 17- The U.S. Federal Reserve's Board of Governors took the unusual step of considering an enforcement issue on Thursday, less than two months after Chair Janet Yellen pledged that top officials would have more direct involvement in such decisions.
NEW YORK, April 17- BlackRock Inc, the world's largest money manager, said on Thursday first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds.
NEW YORK— Maybe the middle child really should be the favorite. Just like families sometimes overlook the middle kid, investors all too often pay attention to just the smallest and largest stocks. "It really does represent the sweet spot," says Mariana Connelly, a client portfolio manager at J.P.
NEW YORK, April 17- BlackRock Inc, the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds.
*Morgan Stanley says "strong performance" bolstered FICC. LONDON/ NEW YORK, April 17- Goldman Sachs and Morgan Stanley both cited stronger commodities trading as a bright spot in the first quarter, fueled at least in part by extraordinary volatility amid the coldest U.S. winter in three decades.
April 17- Goldman Sachs Group Inc reported an 11 percent drop in first-quarter profit on Thursday as client activity remained constrained and fixed-income revenue shrank. The Wall Street bank said its net income fell to $1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013..
NEW YORK— Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19 billion in the same period a year earlier.
Citigroup will not webcast its annual meeting next week in St. Louis, in a move one analyst called "ridiculous."
April 17- The U.S. Treasury Department is forming a new unit to monitor the municipal bond market, the Wall Street Journal reported, citing a Treasury official.
April 16- Bank of America Corp's financial crisis hangover is lasting longer than expected, leading some investors to wonder if the massive litigation expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.
NEW YORK, April 16- Citigroup Inc, which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis. Of the top six U.S. banks, only Citigroup and Wells Fargo& Co do not allow investors to listen to live audio from their annual meetings.
Bank of America Corp. fell$. 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.
WASHINGTON, April 16- Two U.S. senators on Wednesday pushed the Federal Reserve to write tough new rules to limit Wall Street's role in commodity markets, stepping up pressure for a clampdown on some of the country's largest banks.
April 16- Bank of America Corp's mortgage pain is lasting longer than expected, leading some investors to wonder if the massive expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. rose 1.2 percent to $36.10 with 23,832,000 shares traded. Alcoa Inc. rose 2.8 percent to $13.42 with 36,770,000 shares traded.
Bank of America Corp. fell$. 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.