American Express Profit Boosted by Higher Cardmember Spending
Credit card company American Express Co.'s quarterly revenue came in below analyst expectations as cardmember spending growth remained muted.
financials
Goldman Sachs Earnings Beat Analyst Estimates
Goldman Sachs reported first-quarter results that beat analyst forecasts thanks to a pickup in stock and bond underwriting.
Wells Fargo Reports 23% Surge in First-Quarter Profits
Wells Fargo reports a 23 percent jump in first-quarter profit as the bank set aside less money to cover bad loans and it held down costs.
JPMorgan Earnings Soar to $6.1 Billion in First Quarter
JPMorgan Chase, the country's biggest bank by assets, says its first-quarter earnings soared to $6.1 billion, even as revenue fell slightly.
New York Sues Ernst & Young Over Lehman Bros.
New York Attorney General Andrew Cuomo has filed a civil lawsuit against Ernst & Young, alleging that the accounting giant helped now-defunct investment bank Lehman Brothers hide billions of dollars in debt from its investors via loans disguised as sales.
Jones Villalta Opportunity Fund Likes Financials, Tech Stocks
Where are the best deep-value investment opportunities? Where there is the most pessimism, of course. In this short video, fund manager Tom Villata talks about where he sees the greatest opportunities among blue-chip tech stocks and financials.
Programmer Convicted of Stealing Trade Secrets from Goldman Sachs
A former Goldman Sachs computer programmer has been convicted of stealing trade secrets and property in an effort to help a Chicago-based startup develop its own high-frequency securities trading operations.
Signs That the Market Is Ready to Roll Over
The U.S. stock market has been on a tear since Sept. 1, but technical caution flags are now appearing in the charts. A close look at action in the VIX, S&P 500, Nasdaq 100 and financials reveal that the tide may be about to start going out.
JPMorgan Earnings Beat Estimates on Lower Loss Provisions
The nation's second-largest bank by assets said third-quarter income rose 23% to $4.4 billion, or $1.01 a share. While investment and retail banking revenue slipped, JPMorgan was able to set aside less money to cover bad loans, which accounted for the better-than-expected earnings in the quarter.
Financials Rally, but the Dow's Winning Streak Ends
Friday's seesaw day ended mixed, as a relief rally on the compromise reached for financial regulation reform offset concern over a downward revision to first-quarter GDP. Still, the Dow lost more than 300 points this week, abruptly ending a healthy two-week rally.
The Long, Hard Road Ahead for Financial Stocks
Much like tech stocks after the dot-com bubble burst, financials have survived another burst bubble, this time in credit. And much like techs did, financials could be facing an extended stretch where survive is the best they can do. Thriving again isn't in sight.
The Newest Franken-Finance Creation: Liquidity Derivatives
Bet you thought the financial world had learned a bit of prudence from the recent meltdown. But no. Citigroup has a clever new derivative for the markets, and this latest attempt at selling "end-of-the-world insurance" could be just as dangerous to the system as credit default swaps were.
Two Spanish Banks Could Tumble Hard
International banking giants Banco Santander and Banco Bilbao, have gone on buying sprees abroad even as conditions at home declined sharply. But as their loan losses mount, the markets are finally looking past the banks' blithe optimism, seeing red -- and selling off.
Why Politics Makes It Hard to Fix the Banks
Banks are not the enemy. Although many imperfections exist in our financial system, turning banks into a target or a tool for recovery will end poorly. Over time, things will work out in the absence of counterproductive, even if well-intentioned, meddling.