Posts Tagged ‘ bac ’

BofA Merrill And JPMorgan Post Perfect Trading Quarters

May 9, 2013

Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) both made money on every single trading day in the first quarter, according to SEC filings. JPMorgan Chase & Co. (NYSE:JPM) Perfect Trading Quarter Bank of America Corp (NYSE:BAC) reported a perfect trading quarter, with profitability on 60 out of 60 trading days. Similarly JPMorgan Chase & Co. (NYSE:JPM) announced that it too had a perfect trading quarter in the quarter ended March 31. Interestingly, JPMorgan Chase &...
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AIG Permitted To Pursue Fraud Claim Worth $7B Against Bank of America

By Tabinda Hussain

May 8, 2013

Bank of America Corp (NYSE:BAC), intent on shaking off the string of lawsuits that have been hounding it since the financial crisis, appears to be entrapped in a new legal battle with American International Group Inc (NYSE:AIG). Mariana R. Pfaelzer, a federal judge in California, ruled in favor of AIG saying that the insurer has the right to pursue its fraud claim against BAC, NY Times reports. Bank of America Corp (NYSE:BAC) Committed Fraud The lawsuit alleges that Bank...
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Berkowitz’s MBIA Bet Soars Following Bank Of America’s Settlement

By Administrator

May 7, 2013

The manager of Fairholme Fund Bruce Berkowitz made about $140 million as shares of mortgage insurer MBIA Inc. (NYSE:MBI) surged following a legal settlement with Bank of America Corp (NYSE:BAC). The Fairholme Fund is up 20% for the year, and was up nearly 3% yesterday alone. The fund manager Berkowitz was named Morningstar, Inc. (NASDAQ:MORN)’s domestic stock manager of the decade in 2010. He made a big bet on insurance companies and financial stocks with...
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Post Market News: MBIA, BofA, Tesla Motors, Apple Inc. (AAPL), Groupon

By Paul Shea

May 6, 2013

There were some big movers in a mostly flat market today, May 6. The S&P 500 gained just 0.19 percent, while the Dow Jones lost 0.03 percent and Nasdaq gained 0.42 percent in today’s trading. Here’s a run down of the biggest movers including MBIA Inc. (NYSE:MBI), Groupon Inc (NASDAQ:GRPN), Bank of America Corp (NYSE:BAC), Tesla Motors Inc (NASDAQ:TSLA), and Apple Inc. (NASDAQ:AAPL). MBIA Inc. (NYSE:MBI): The biggest story on today’s market was the...
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The Value Investor Case for MBIA, BoFA, AIG and NewMarket

By ValueWalk Staff

May 1, 2013

Fernbank earned 5.03% in 2012. For the first quarter ended March 31, 2013, the Fund earned 10.73%. Since inception on September 1, 2010, the Fund has earned 58.40% despite holding, on average, over 24% in cash for the period ended March 31, 2013. Below is a summary of why the value hedge fund likes MBIA, AIG, BAC and several other stocks, followed by the full document in scribd: Your individual results to date will vary...
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Volcker Rule Faces Delays, Banks Face Higher Costs

By Paul Shea

February 28, 2013

The Volcker Rule may not be implement until the second half of 2013, according to sources cited by the Wall Street Journal. Sources told the paper that the specifications of the rules were proving complex to form, and the final version is likely to be delayed. The news will adversely affect the ability of banks to prepare for the implementation of the rules. The rule will address a huge swathe of financial institutions. The...
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Wall Street’s Underwriters Sell Junk Bonds Expected to Decline

By Aman Jain

February 28, 2013

The junk bond underwriters of Wall Street are selling the debt at record speed after the securities gave a return of 19 percent last year. The issue? The Wall Street underwriters selling the products are quite sure the securities will drop as the interest rate has risen. “Our job first and foremost is to properly structure deals for companies that can support their debt and perform well,” said Craig Packer, the New York-based head of Americas...
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Wells Fargo Faring Well Amid Tough Enviroment

By Aman Jain

January 29, 2013

Wells Fargo & Company (NYSE:WFC) is a San Francisco, California based financial services company with $1.3 trillion in assets. It was established in 1852 and currently is second largest bank in the United States by deposits and largest by branches. On an average, Well Fargo serves one in three houses in the U.S. It offers a broad range of financial products ranging from banking and insurance to mortgages and commercial finance. Wells Fargo & Company...
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Federal Bank To Declare Stress Test Results In March

By Aman Jain

January 29, 2013

U.S regulators will declare the result of a stress test for six large banks on March 7th. The test will measure the potential of big banks to survive a financial shock. U.S. regulators will release the results of the capital plan evaluation of the largest banks this week, according to Federal Reserve. The six large banks undergoing this test are; Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C), Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan...
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Citigroup Paying the Cost Of Being In the Financial Industry

By Aman Jain

January 28, 2013

Citigroup Inc. (NYSE:C) is a global diversified financial services holding company, serving consumers, corporations, governments and institutions with a broad range of financial products and services. The company has sailed through another rocky year. Citi posted a decline in revenue for the third and fourth quarter of 2012 in the continuous challenging environment. The results of the fourth quarter indicated several improvements in significant areas. This comprises increased revenues, controlled expenses, stable net interest...
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JPMorgan Chase To Prevent Shareholders Voting On Break-Up

By Michelle Jones

January 25, 2013

JPMorgan Chase & Co. (NYSE:JPM) is attempting to keep its shareholders from voting on a break-up plan that a number of labor unions are trying to impose on it. The labor unions are attempting to force the bank’s board to break it up because of what happened in the London Whale incident. JPMorgan Chase & Co. (NYSE:JPM) is reportedly facing enforcement action because of the incident, which cost the bank more than $6 billion in...
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