Aug
22
Without a bailout of Fannie and Freddie, Commercial banks will be in deep trouble
August 22, 2008 | Leave a Comment
Commercial banks
“
Banks and thrifts are in the business of making loans, and there is no bigger loan the U.S. consumer will take on than a mortgage. If banks can’t sell these loans to Freddie or Fannie it would follow that the trickle of failures today would accelerate into a flood. Without buyers, big mortgage lenders [...]
Aug
18
Buffett’s Berkshire Nearly Doubles Union Pacific Stake In 2Q
August 18, 2008 | Leave a Comment
Buffett’s Berkshire Nearly Doubles Union Pacific Stake In 2Q
Last Update: 8/15/2008 10:15:46 AM
By Sam Mamudi
The investment vehicle of legendary investor Warren Buffett nearly doubled its
stake in transport outfit Union Pacific Corp. (UNP) in the second quarter.
Berkshire Hathaway Inc. (BRKA, BRKB) also added stakes in Bank of America Corp.
(BAC), Lowe’s Cos. (LOW) [...]
Aug
18
Bankruptcy Judge Rejects Countrywide Settlement Offer-Reuters
August 18, 2008 | Leave a Comment
Bankruptcy Judge Rejects Countrywide Settlement Offer-Reuters
Last Update: 8/15/2008 11:39:44 AM
DOW JONES NEWSWIRES
A $325,000 payment proposal by Countrywide Financial Corp. to settle claims over
its lending practices was rejected Thursday by a federal bankruptcy judge,
Reuters reported. The offer by the housing lender, now part of Bank of America
Corp. (BAC), made to a bankruptcy [...]
Aug
15
Buffet’s Berkshire doubles Union Pacific stake
August 15, 2008 | Leave a Comment
Buffet’s Berkshire doubles Union Pacific stake
By Sam Mamudi, MarketWatch
Last Update: 8/15/2008 10:03:00 AM
NEW YORK (MarketWatch) — The investment vehicle of legendary investor Warren
Buffet increased its stake in transport outfit Union Pacific Corp. by almost
double in the second quarter.
Berkshire Hathaway also added stakes in Bank of America Corp. (BAC), Lowe’s Cos.
(LOW) and NRG Energy Inc. (NRG), [...]
Aug
13
Bank Of America On Two-Day Slide, Down On Mortgage, Legal Woes
Last Update: 8/13/2008 2:31:07 PM
By Marshall Eckblad
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Shares of Bank of America Corp. (BAC) are having a bad
week.
And it’s only Wednesday.
Investors have headed for Bank of America’s exits over the last few days, pushing
the Charlotte bank’s shares [...]
Jul
29
Four US Banks To Launch Covered-Bond Mkt Programs
July 29, 2008 | Leave a Comment
Four US Banks To Launch Covered-Bond Mkt Programs
Last Update: 7/29/2008 7:35:00 AM
(This article was originally published Monday)
By Meena Thiruvengadam
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–Four of the U.S.’s leading banks are joining a government
effort to promote the development of a covered-bond market.
Bank of America Corp. (BAC), Citigroup Inc. (C), JPMorgan Chase & [...]
Jul
21
Most of 19 short-protected stocks rise, for now
July 21, 2008 | Leave a Comment
Protected stocks rise, helping market — for now
By Nick Godt, MarketWatch
Last Update: 7/21/2008 2:41:00 PM
NEW YORK (MarketWatch) — While most of the shares of the 19 financial
institutions protected from illegal short sales by the Securities and Exchange
Commission continued last week’s advance Monday, concerns about the rest of the
financial sector are still weighing on the market.
“Nineteen [...]
Jul
21
US HOT STOCKS: Nautilus, Schering-Plough, Timken, TransAlta-2-
Last Update: 7/21/2008 11:58:36 AM
Among the companies whose shares are actively trading in Monday’s session are
Genentech Inc. (DNA), Bank of America Corp. (BAC) and Yahoo Inc. (YHOO).
Genentech Inc. (DNA, $92.45, $10.63, 12.99%) rose following an offer by Swiss
drug maker Roche Holding AG (RHHBY, $88.10, $0.00, 0.00%) to buy the [...]
Jun
20
S&P cuts Bank of America to sell from hold
June 20, 2008 | Leave a Comment
NEW YORK (MarketWatch) — Standard & Poor’s Equity Research on Friday downgraded
shares of Bank of America Corp. to sell from hold amid worries about the mortgage
portfolio the bank will inherit when it acquires lender Countrywide Financial
Corp. on July 1. “We take unfavorable note of the large Countrywide
option-adjustable rate mortgage portfolio that Bank of America will [...]
Jun
13
US Bank Shrs Fall; More Div Cuts, Capital Increases Seen
US Bank Shrs Fall; More Div Cuts, Capital Increases Seen
Last Update: 6/13/2008 10:31:20 AM
NEW YORK (Dow Jones)–KeyCorp (KEY) likely won’t be alone in cutting its dividend
and raising capital, analysts at Goldman Sachs said Friday. They estimate there
is another $65 billion in capital raising coming at U.S. [...]
