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American Express feeling pinch from economy
Profit down 6%, not as steep as forecast
By Riley McDermid, MarketWatch
Last Update: 9:08 AM ET Apr 25, 2008
NEW YORK (MarketWatch) — American Express is feeling the pinch from a worsening
U.S. economy as financially stressed consumers make fewer payments less often,
analysts said Friday.
The credit card giant reported Thursday that first-quarter profit [...]

National City tumbles after loss and new investment
By MarketWatch
Last Update: 1:49 PM ET Apr 21, 2008
SAN FRANCISCO (MarketWatch) — Shares of National City Corp., battered by the
mortgage crisis, fell as much as 29% Monday as the company said it would raise $7
billion to bolster its balance sheet — at the cost of current shareholders.
After weeks [...]

Among the companies whose shares are expected to see active trade in Monday’s
session are Bank of America, Texas Instruments and Gannett.
Bank of America Corp.’s (BAC) first-quarter earnings sank 77% to $1.21 billion,
or 23 cents a share, as its provision for credit losses climbed and it posted
$2.72 billion in net charge-offs. Net interest income rose to [...]

Bank of America Corp. (BAC) on Monday posted a 77% drop in net income, as the
largest U.S. retail bank boosted its credit-loss provision nearly fivefold and
recorded at least $1.91 billion in write-downs.
While Chairman and Chief Executive Kenneth D. Lewis said, “We remain concerned
about the health of the consumer given the prolonged housing slump, subprime
issues, employment [...]

Associated Banc-Corp 1Q Net Falls 9.4% To $66.5M >ASBC
Last Update: 4/17/2008 2:43:59 PM
DOW JONES NEWSWIRES
Associated Banc-Corp’s (ASBC) first quarter net income fell 9.4% to $66.5
million, or 52 cents a share, from $73.4 million, or 57 cents a share, due in
part to a higher loan-loss provision.
The Green Bay, Wis., multibank holding company said net interest income [...]

UPDATE: E*Trade Swings To 1Q Loss, Says US In Recession
Last Update: 4/17/2008 4:16:05 PM
DOW JONES NEWSWIRES
E*Trade Financial Corp. (ETFC) swung to a first-quarter loss as the company said
it accepts that the U.S. has entered a “modest recession.”
The company, which has been rocked by the turmoil in the housing market, said it
has [...]