The Thrill Is Gone, No More Fun In Financials
2010-03-09 03:37:23
Keywords: U.S. Markets, U.S. Equities, TARP, Financials, Tech stocks, Dotcom bubble
Quote: The iShares S&P Global Financials Sector Index FundIXGnewspeopleexchange-traded fund that tracks financial stocks such as JPMorgan Chase, Goldman Sachs and Wells Fargo, peaked at $95.68 in May 2007 before tumbling 80.4% and bottoming as low as $18.72 on March 9 of last year. Since then, the ETF has rebounded nearly 150%, closing at $45.84 on Monday, but remains down 52.1% from its high.
plunge tech stocks tookregulatory uncertaintyFed's planned liquidity withdrawal and earnings revisions mom...
Read articleBanks goose credit card rewards to push card use
2010-03-08 02:05:08
Quote: NEW YORK (AP) -- Not every letter from a credit card company is bad news these days.While millions of card users received notices of interest rate hikes and new fees in recent months, a select portion learned they're getting new perks.CitigroupAmerican AirlinesJPMorgan Chase & Co. similarly upped the miles-to-dollars ratio for their British Airways card by 25 percent, to 1.25 miles for each $1 spent. Chase also boosted the ability to rack up rewards on Marriott cards.Citi spokesman Sam Wang put ...
Read articleSnow job: Estimates of weather's impact miss mark
2010-03-08 02:05:07
Quote: WASHINGTON (AP) -- Armed with spreadsheets, mathematical formulas and historical comparisons, legions of economists sought to forecast the impact of last month's snowstorms on the government's employment report.They mostly got it wrong.Macroeconomic Advisers, a leading forecasting firm, calculated the storms would cost 150,000 to 220,000 jobs.IHS Global Insight pegged the impact at 100,000 to 150,000.JPMorgan Chase & Co. went with 100,000.The Labor Department won't quantify the impact of the sto...
Read articleRPT-FACTBOX-Keys to financial regulation reform in U.S. Senate
2010-03-08 02:05:07
Quote: The handful of Wall Street firms -- Goldman Sachs (GS.N),
JPMorgan Chase (JPM.N), Citigroup (C.N), Bank of America
(BAC.N) and Morgan Stanley -- that dominate the market have
fought increased oversight. The House bill included new regulations for OTC
derivatives, but exempted a wide range of end-users of the
financial contracts from mandatory central clearing. The draft unveiled by Dodd in November has narrower scope
for exemptions. Dodd has since largely turned over work on this
issue to Democr...
Read articleStocks jump after better-than-expected jobs report
2010-03-08 02:05:06
Quote: A recovery in the labor market is "the most critical factor" in getting more people to keep up with their debts, said Edward Crotty, chief investment officer at Davidson Investment Advisors.JPMorgan Chase & Co. climbed 89 cents to $42.81.After announcing the launch date for the iPad, Apple rose $8.24, or 3.9 percent, to $218.95. It rose as high as $219.70 during trading.The dollar fell against other major currencies, while gold rose.The Russell 2000 index of smaller companies rose 13.55, or 2.1 ...
Read articleJPMorgan, WaMu Near Deal on Disputed $4B
2010-03-05 01:54:14
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, TheStreet Staff ,Financial Services
Quote: NEW YORK (TheStreet) -- Talks to resolve a dispute over who owns about $4 billion claimed by both JPMorgan Chase (JPM) and Washington Mutual have accelerated over the past few days, the Wall Street Journal reports."There seems to be some momentum," said a lawyer who represents Washington Mutual.Washington Mutual entered bankruptcy in September 2008 when federal regulators seized its banking operations and sold them to JPMorgan. Lawyers for Washington Mutual say the $4 billion represented depos...
Read articleJPMorgan, WaMu Talk Over Disputed $4B
2010-03-05 01:54:14
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, TheStreet Staff ,Financial Services
Quote: NEW YORK (TheStreet) -- Talks to resolve a dispute over who owns about $4 billion claimed by both JPMorgan Chase (JPM) and Washington Mutual have accelerated over the past few days, the Wall Street Journal reports."There seems to be some momentum," said a lawyer who represents Washington Mutual.Washington Mutual entered bankruptcy in September 2008 when federal regulators seized its banking operations and sold them to JPMorgan. Lawyers for Washington Mutual say the $4 billion represented depos...
Read articleUPDATE - Wells Fargo CEO '09 compensation more than doubles
2010-03-04 01:53:48
Keywords: Banks (industry group),Financials,Management issues/policy,Business activities,Fund management and asset allocation,United States of America,Financial services - diversified,Financial service providers,Investment services,Company News item,Economic news,
Quote: While JPMorgan Chase & Co (JPM.N), the second largest U.S.
bank, is set to give CEO Jamie Dimon a roughly $16 million
stock payout for 2009, his salary is likely to be lower than
Stumpf's. Wells Fargo said in December that Stumpf would receive a
stock payout worth about $10 million but would not receive a
cash bonus. Wells Fargo, which reported a record profit of $12.3
billion in 2009, said last month it would give shareholders a
"say on pay" vote at its annual meeting on April 27. This will...
Read articleWells Fargo CEO's pay doubles to $18.7 million
2010-03-04 01:53:47
Quote: His 2009 pay makes him among the nation's highest-paid bank CEOs.JPMorgan Chase & Co. CEO Jamie Dimon received a $16 million in compensation for 2009, while Goldman Sachs Group Inc. CEO Lloyd Blankfein received $9 million.Lawmakers and shareholders sharply criticized Wall Street pay after the biggest banks lost billions of dollars on bad mortgage bets, helped cause the recession and then had to be bailed out by the government.Wells Fargo said last month that it will allow shareholders to cas...
Read articleUPDATE - JPMorgan gets quick A$700 mln bids for its bond
2010-03-03 07:50:06
Keywords: Debt,
Quote: UPDATE 1-JPMorgan gets quick A$700 mln bids for its bond
(Adds orderbook size details)(For the latest Australia and New Zealand bond news, double
click on [AU/CRD] and then double click on the ID number) SYDNEY, March 3 (Reuters) - JPMorgan Chase & Co (JPM.N) has
already received around A$700 million ($633 million) worth of
bids for its five-year benchmark issue at 130 basis points over
swap and BBSW, a source who has seen the terms said on
Wednesday. The offer, launched earlier in the day,...
Read articleSouthWest Water Company Signs Agreement to be Acquired by Long-Term Infrastructure Investor Group
2010-03-03 07:50:03
Quote: Read article[$$] Investment Banks Cut Compensation Ratios
2010-03-02 04:44:33
Quote: HSBC Holdings PLC cut its investment-bank compensation-to-revenue ratio to 22%, from 36% in 2008; JPMorgan Chase & Co. cut its to 33% from 62%, and Royal Bank of Scotland Group PLC's shrank to 27% from 76%. Other banks that reduced their ratios included Barclays PLC, Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley. No meaningful comparison could be made for Credit Suisse Group and UBS AG, because neither had any .........
Read articleMovers roundup: Tetra Technologies, Taser
2010-03-02 04:44:32
Quote: Read articleCramer's 'Mad Money' Follow-Up: March 1
2010-03-02 04:44:32
Keywords: Financial, News, Stock, Market, Headlines, Investments, Quotes, Trading, TheStreet.com, TheStreet.com Staff ,Mad Money Follow-Up
Quote: Read articleNasdaq and S.&P. Positive for the Year
2010-03-02 04:44:30
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: Read articleUK's Pru plans $20 bln rights offering -source
2010-03-01 07:39:33
Keywords: Washington / US Government News,Federal Reserve Board,Regulation and enforcement,United States of America,Insurance - multiline,Insurance (industry group),Financials,Emerging countries,Asia,Insurance - life and health,United Kingdom,Western Europe,Europe,
Quote: Prudential's rights offering will be backstopped by Credit
Suisse (CSGN.VX), HSBC (HSBA.L) and JPMorgan Chase (JPM.N), the
source said, declining to be named because the deal is not yet
public. Prudential plans to pay about $10.5 billion of the purchase
price in equity, and that would include about $5.5 billion in
common stock, the source said. AIG was advised by Citigroup (C.N) and Goldman Sachs
(GS.N), while its board was advised by Blackstone Group (BX.N),
the source said. Credit Suisse, Laza...
Read articleJPMorgan Chase (JPM), Wells Fargo (WFC) and State Street (STT) Part Of Lemon Asset Management Incs. Portfolio
2010-03-01 07:39:33
Quote: Consequently we maintain our position in JPMorgan Chase (JPM), Wells Fargo (WFC) and State Street (STT). We overweight the technology sector, but have become more selective. We focus on performance and applications.Almost daily, Google (GOOG) makes an announcement with respect to a new technical approach and product improvement. Microsoft's (MSFT) margins continue to expand and that trend should continue with the introduction of Windows 7. It has introduced Bing and has excess capital for possib...
Read articleAIG agrees to $35.5 billion unit sale to Prudential: sources
2010-03-01 07:39:30
Quote: Read articleUPDATE - MSCI to buy RiskMetrics for $1.55 bln
2010-03-01 07:39:29
Keywords: United States of America,Financials,Financial service providers,Fund management and asset allocation,Exchange activities,Investment services,Banks (industry group),Business activities,Mergers and Acquisitions (including Changes of Ownership),Contract betw
Quote: RiskMetrics, which was spun off from JPMorgan Chase (JPM.N)
in 1998, is the market leader in risk management systems and
supplies data, analytics, risk reporting, and other information
services. Demand for risk management products has risen since the
start of the credit crisis as financial firms look to mitigate
the risk arising on their investment portfolios and balance
sheets. However, as firms cut back on cost......
Read articleMSCI Buys RiskMetrics for $1.55 Billion
2010-03-01 07:39:26
Keywords: Mergers & Acquisitions, Investment Banking, I PO, I.P.O.s, IPOs, Offerings, Private Equity, Hedge Funds, Venture Capital, Legal, The New York Times, Andrew Ross Sorkin, Andrew Sorkin, DealBook, deal maker, Wall street, wall st., Goldman Sachs, Goldman Sa
Quote: MSCI, the investment analysis firm known for its MSCI international stock indexes, has inked a $1.55 billion to buy RiskMetrics Groupreported.
Under the terms of the deal, MSCI is offering a combination of $16.35 in cash and 0.1802 MSCI shares for each RiskMetrics share, representing a 16 percent premium to RiskMetrics’ closing price on Friday, Reuters noted.
http://www.businessweek.com/news/2010-03-01/msci-agrees-to-buy-riskmetrics-for-1-55-billion-update1-.html?dbk">noted that MSCI, whi...
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