SAN FRANCISCO (Reuters) - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp -- another possible victim.
Results 1 - 10 of 122 for "WACHOVIA"
The market is treating Citigroup (C) as if it knows something about the bank's near-term fortunes and that something is not good. Shares in the bank have been off 21% to $6.60. What is remarkable is that the stock traded over $10 just four days ago. Citi's announcement that it would acquire the remaining assets of the SIVs it manages at current fair value should not have caused the drop. If the...
Neel Kashkari Economic data posted today shows the Consumer Price Index posted its largest drop in 61 years! Thats gotta hurt! The 'Big 3' continue their desperate pleas for financial assistance from the government today in an attempt to ward off bankruptcy. Recently the automakers have indicated that should they be allowed to fail, there could be a loss of jobs in the millions. Realistically, ...
Citigroup Inc. (C) today (Monday) unveiled plans to cut more than 50,000 jobs in the “near term” and slash expenses by 20% to preserve capital as it faces a global slowdown that’s expected to push well into 2009. The cuts are on top of the 23,000 jobs eliminated so far this year. Chief Executive Officer Vikram Pandit plans to whittle the company’s workforce down to 300,0...
These are some of the top early bird upgrades or positive calls from analysts on Wall Street which we have seen early this Tuesday morning: BJ Services (BJS) Raised to Outperform at Wachovia. Chico’s FAS (CHS) Raised to Neutral at UBS. First Solar (FSLR) Started as Overweight at JPMorgan. General Communications (GNCMA) Raised to Outperform at RBC. Medcath (MDTH) Raised to Hold at Citigroup. Met...
Henry Paulson Overall, the trading action was either flat lined or, whippy traders all over the place. The DOW tacked on over 151 points and other major U.S. indices were successful in posting gains, regardless of how small, at least they were gains at the closing bell. Talk on the street consisted mostly about the possible bailout of the 'Big 3'. Hearings were ongoing at the time of this Daily...
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people. Morale will never be better. But, the markets are wise, and they are saying that there is a very reasonable chance Citi may not survive as an independent entity. It is no secret that the bank's shares, which are t...
BAC, GS, AXP, FNM, MER printed new 20-day lows. XLF is very close to its lows. Multiple positive divergences of MACD. It is now moving within a descending channel.In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days moving average of the close. The background is Green when the close is > than the moving average. Red when it is b...
Perhaps it is a remarkable failure of imagination or just animal panic. A day after Citigroup (C) hit a multi-year low and spent time below $10, CEO Vikram Pandit's answer was to buy a few crummy shares in the bank and prepare to fire another 10,000 poor souls. He also decided to raise rates on credit cards, which would seem to undermine the federal government's programs to help consumers durin...
Pershing Square Capital Management, the hedge fund managed by William A. Ackman, bought stakes in Wachovia and the American International Group during the third quarter, according to a filing on Thursday with the Securities and Exchange Commission. The position in A.I.G. was valued at $110 million and the Wachovia stake at $338 million as of Sept. [...]