If the fifth lightest trading volume of 2012 was like watching paint dry, you won't find Sherwin-Williams complaining. The stock climbed 5.84% in its best showing for 14 months, and scored an analyst upgrade this morning.
Bank of America has agreed to pay $2.43 billion to settle a class-action shareholder lawsuit related to its acquisition of Merrill Lynch. Plaintiffs alleged that Bank of America and some of its officers made false or misleading statements about both companies' financial health ahead of the deal.
Sometimes, companies that were once leaders fall hopelessly behind. They may struggle on for years, but their chances to engineer turnarounds have passed. 24/7 Wall St. has found nine of these companies -- names you know well, but that will never be great again.
Obesity. Climate change. Our ever-increasing energy needs. These are just some of the megatrends analysts see coming down the global pike, trends that investors can draft behind and make money from.
Top executives at Bank of America did not tell shareholders just prior to a 2008 vote on its purchase of Merrill Lynch that its losses were mounting, papers filed in shareholder litigation show. But the bank says it should not be liable to shareholders in the matter.
Aftershocks from the financial crisis are still hitting U.S. banks: They're getting sued over everything from bonds stuffed with fraudulent home loans to improper foreclosures to credit card fees. Here are the five banks with the most to lose from those lawsuits.
The U.S. economy has suddenly shifted into a higher gear, and "help wanted" signs are popping up at many more companies. That's great news for the whole staffing industry, but these four firms could benefit more than most.
When Erin Duffy got her pink slip from Merrill Lynch back in August 2008, there was one silver lining. Unemployment gave her time to write a novel. The result was Bond Girl, a fun and highly autobiographical recounting of one young woman's adventures in love and bond sales on Wall Street.
Bank of America did the right thing this week, nixing its notorious $5 a month debit card fee before it began. But B of A can't win, and even now, financial journalists are wondering how it will find ways to nickel and dime its way back from this week's fee retreat at the expense of its customers.
Millionaires are back. The number of individuals worldwide with $1 million or more in assets aside from their residence grew by 8.3% to 10.9 million in 2010, topping pre-crisis 2007 levels, according to the World Wealth Report released Wednesday.
BlackRock, the world's largest publicly traded asset management firm, recently agreed to buy back Bank of America's remaining 7% stake in the company for about $2.5 billion. Trefis looks at why Bank of America is selling, what the buyback means for BlackRock, and what the effect will be for its stock.
The financial crisis was produced by a complex set of circumstances, including a massive housing bubble, poor regulation and irresponsible lending on an epic scale. A handful of bankers became the public faces of the crisis, and now, two years later, we take a look at what became of them.
Since the recession began, more than 8 million Americans have lost their jobs. But perhaps even more surprising is the small number of companies that are responsible for laying off such a large percentage of today's unemployed workers.
The Merrill Lynch division of Bank of America is starting an online brokerage, and stocks in TDAmeritrade and Charles Schwab each fell when the news came out. The change will occur June 21, and the service will be called Merrill Edge.
JetBlue Airways (JBLU) shares traded 5.5% higher in early morning trading to $6.86 following several positive analyst calls.
It's only when clients ask for financial advice that banks owe a fiduciary duty to them -- and these activities contribute just a tiny portion of banks' revenue.
MBIA has sued Merrill Lynch because the CDOs on which Merrill bought insurance from MBIA were AAA-rated junk. MBIA says Merrill knew the CDOs didn't deserve the top rating at the time it insured them. If this case succeeds, big banks may find dud ratings very expensive.
Calling it "half-baked justice," District Court Judge Jed Rakoff nonetheless approved Bank of America's $150 million settlement with the SEC. It ends the government's pursuit of BofA over the Merrill Lynch merger, but it doesn't protect the bank from other lawsuits.
Citigroup (C) may sell its private equity operations, Citi Private Equity, for $10 billion. The reason for the sale is simple. Citigroup is still trying to rebuild its troubled balance sheet and the $10 billion would come in handy. Of course, getting $10 billion may be easier said than done.
John Thain, the former CEO of Merrill Lynch and NYSE Euronext is the top candidate for the CEO job at CIT despite his tarnished reputation.
Brian Moynihan seems keen to show the world that he's in charge of Bank of America. In his first public speech as head of the largest U.S. bank, the BofA insider says the industry is 'ready to move forward' after learning "tough lessons."
As easy as it was to be bearish in 2009, it sure didn't pay. The markets have produced stellar gains that were inconceivable back in March. And while some may suggest that we're in another bubble, there's ample reason to think stocks can climb even higher through 2010 before going pop.
