Fitch Ratings analysts downgraded Regions Financial Corp. on Monday saying the company's credit costs are rising and its credit quality continues to deteriorate.
Two banks which have repaid their bailout funds said Monday they no longer need to take advantage of a special program that offers government insurance on certain deposits, like checking account funds, over $250,000.
Wednesday, 12 Aug 2009 | Posted By:
Charlie Gasparino | Source: CNBC.com
Hedge fund manager John Paulson, who earned a fortune by betting against financial companies, bought a $2.7 billion stake in Bank of America and took stakes in other lenders during the second quarter.
Mad Money needed new inductees for its Wall of Shame, so we asked viewers to send suggestions. Read on to get their opinions on the CEOs at Verizon, Capital One, Chesapeake Energy, Boeing, Regions Financials and more. After you've seen all 15 "worst of the worst," vote for your least favorite.
Stock markets are just at the beginning of a larger rally which could see the major indexes jump another 20-to-30 percent and banks are the best bet, Michael Browne, portfolio manager from Sofaer Global Research, told CNBC.
Stocks retreated Monday as investors took a breather after last week's run. The Dow was down over 100 points in the first few minutes of trading as banks declined.
Following last week's gains, stock index futures indicated a lower open for the stocks Monday as investors remained concerned about the health of the financial system as the stress-test hype wears off.
Stocks capped another strong week with a triple-digit rally Friday as Wall Street breathed a sigh of relief after the stress-test results and banks soared.
Stocks rose Friday as Wall Street breathed a sigh of relief after the stress-test results and banks rallied. But weakness crept into bank and tech stocks.
Futures pared gains after the employment report showed fewer jobs were lost in April than previously expected but the prior month's payrolls were revised to show a sharper drop than previously reported and the unemployment rate jumped.
All major US indices break four weeks of consecutive gains, closing to the downside on Friday, after a drop in consumer sentiment data in August.... Read More