According to Wall Street Journal, U.S. regulators told Citigroup Inc and Bank of America Corp they may need to raise more capital. The shortfall in capital amounts to billions of dollars at BofA, the paper said, citing people familiar with the bank. Both banks, whose officials are objecting to the…
So we had it finally. The pressurized spring bounced back and shorts were pressed against the wall to cover. Fantastic rally by all means, it was easily qualified as a 90% Upside Day on both the NYSE and the NASDAQ that too on expanding volume. Market breadth was also much…
There is a lot of earnings data this week and today is also heavy. There doesn’t appear to be a clear direction. As of this writing futures are pointing to modestly higher opening. Here are four heavyweights- Citigroup (C) issued a quarterly progress report sharing how they are deploying $45…
JP Morgan Chase (JPM) Reported Q4 (Dec) earnings of $0.07 per share, $0.07 better than the First Call consensus of ($0.00); revenues fell 0.9% year/year to $17.23 bln vs the $18.83 bln consensus. Losses were in investment banking due mark downs on leveraged loans and mortgage trading positions. They faced higher…
This 2 part series will cover recent market developments about Berkshire Hathaway, points to a strategy on how you may benefit more on the same trades he did recently and an option trading strategy that probably Berkshire uses for maximizing it returns on the underlying they find worth investing. Don’t forget…
A day after Citigroup (C) hit a multi-year low and relaxed below $10, CEO Vikram Pandit’s bought some shares (~>US$8MM) and announced to axe another 10,000 jobs. He also decided to raise rates on credit cards. Weren’t they suppose to lower the rates when FED is even willing to go lower than 1%,…
Fed has cut the discount rate by 50 basis points to 1.75%, ECB also cut benchmark rates by 50 basis points from 4.25% to 3.75%; and the futures are up, triple digit (as of this writing). Here is a snapshot of what happened today in the Asian markets so far-…
The $700billion market bail out plan is disclosed and is for review withCongress. The Target is to get it to President table by Friday, according to Forbes. As per the same article– Treasury Secretary Henry Paulson “is in effect becoming the dictator of the American financial system for a few…
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