All Entries Tagged With: "$C"
Financial Layoffs, Downgrades Continue
On Thursday, Morgan Stanley (NYSE: MS) announced that it was laying off 1,600 employees. In the big picture, this round of layoffs is not majorly significant, as it represents only 2.6% of the company’s workforce—a relatively small percentage of the more than 60,000 employees in total. Still, it is yet another example of a major [...]
Citigroup Cites Regulation, Poor Market in Job Cut Decision
Earlier this week Citigroup’s (NYSE: C) CEO Vikram Pandit announced that the company would be cutting 4,500 jobs in coming quarters. Pandit cited a desire to cut costs in the face of slumping market conditions. All told, the company would take a hit of roughly $400 million to reduce its employee base. This would include [...]
Buffett Enlarges His Control Of The Banking Industry
The financial media were dominated on Thursday by the announcement that Warren Buffett would purchase $5B in preferred shares of Bank of America (NYSE: BAC). The news propelled shares of the bank strongly higher. In pre-market trading, Bank of America was up as much as 24%, trading near $8.70. CNBC’s Jim Cramer stated that Buffett’s [...]
UK Rate Hike Expected Soon
Expectations that the Bank of England will raise its interest rate by 25 basis points, to 0.75%, during the second quarter of 2011 have risen on a report in the Financial Times that a third member of the bank’s Monetary Policy Committee now supports the rise. Hopes for a rate hike were further pumped up [...]
It’s Only Rock ‘n Roll at Citigroup
Banking giant Citigroup Inc. (NYSE: C) just got into the music business. The bank has seized control of EMI Group Ltd. from private equity firm Terra Firma just four months before Terra Firma was set to default on its $4.5 billion loan. Terra Firma bought EMI in 2007, just before the financial markets tanked, and [...]
July’s Most Actively Traded US Stocks
At Seeking Alpha, Wall St. Cheat Sheet’s Damien Hoffman posted an interesting article and chart on the most liquid stocks trading on U.S. exchanges (not counting ETFs). Citing a research study from Abel/Noser, Hoffman notes that just six stocks accounted for 10% of activity in July. About 4.24% of all market activity was represented by [...]
Are You Buying Citigroup From the Government?
If you’ve been buying shares of Citigroup (C) lately, there’s a chance the US government has been on the other side of your trade. On July 1, Bloomberg Businessweek reported that the government sold 1.1 billion shares from May 27 to June 30 at an average price of about $3.91. Earlier in the year – [...]
The New CBOE Weekly Options: Expiration Week Every Week
When you look at options chains for a few selected stocks and ETFs, you’ll notice something new. If you see a “W,” note that these are “weekly options” that expire the very next week. That’s because the Chicago Board Options Exchange (CBOE) is adding these so-called “weeklys” to some additional stocks and ETFs. According to [...]
