The big banks have reported strong earnings this week, and traders on StockTwits are betting the trend will continue with Bank of America (BAC), which releases second-quarter results Wednesday.
But the enthusiasm for Bank of America quickly fizzled out as the broader market turned negative.
What gives? Well, everyone knows, you always sell Bank of America before earnings. Or you always buy it before earnings. Sorry, you hold it into earnings. You sell it after. Wait, what?
Got it, sell now, buy tomorrow. No pigs or cheerleaders here.
Ok, hold now, sell tomorrow. Thanks for clearing that up. What if this time it's different?
Anyone else want to take a stab?
One thing is for sure, Bank of America is not going to fall below $14 a share, until it did.
Later that morning...
Of course, it's still relatively early.
Breathing is important, maybe just let them breathe all day?
So what is all the fuss about anyway?
Bank of America is expected to report earnings of 25 cents per share for the second quarter, up from 19 cents in the same period a year ago, according to a consensus of Wall Street analysts.
Apple sold $17 billion worth of bonds late Tuesday in the largest sale of corporate bonds ever.
The company offered both fixed and floating rate bonds, with maturities of of 3, 7, 10 and 30 years.
At $17 billion, the offering trumps Roche Holdings' $16.5 billion bond sale in 2009, according to data from Dealogic.
Apple saw strong demand for its bonds, which were rated Aa1 by Moody's and AA+ by Standard & MOREBen Rooney - Apr 30, 2013 11:24 AM ET
Wall Street has been taking a second look at J.C. Penney in the weeks since controversial CEO Ron Johnson stepped down.
J.C. Penney said Monday that it secured a $1.75 billion loan from Goldman Sachs (GS). The announcement confirms reports late last week that that the retailer was nearing a financing deal with Goldman.
Shares of J.C. Penney (JCP) rose more than 4% Monday. The stock gained 9% last week as investors welcomed MOREBen Rooney - Apr 29, 2013 12:25 PM ET
Wall Street is turning its back on gold.
Both Goldman Sachs and Deutsche Bank lowered their year-end forecast for the precious metal this week, citing an improving U.S. economy.
Goldman slashed its target to $1,545 per ounce for 2013, down from its previously estimate of $1,610. The bank also lowered its outlook for 2014 to $1,350 an ounce, down from an earlier forecast of $1,490.
Meanwhile, Deutsche Bank reduced its year-end forecast MOREHibah Yousuf - Apr 10, 2013 2:06 PM ET
It's that time of year again. Most of the nation's big banks have disclosed how much chief executives earned in 2012. While some had their compensation cut, others received hefty raises.
One caveat: Wells Fargo (WFC) CEO John Stumpf, who received $17.6 million in total compensation in 2011, is not on the list. Wells has not yet disclosed Stumpf's 2012 compensation.
Lloyd Blankfein: $21 million
The CEO of Goldman MOREBen Rooney - Feb 25, 2013 5:26 AM ET
Bank stocks have been on a tear in 2012. Monday was no different, as shares of big banks pushed the broader market higher.
Bank of America (BAC), Citigroup (C), Goldman Sachs (GS) and Morgan Stanley (MS) all climbed more than 2%, while Wells Fargo (WFC) rallied more than 3%. AIG (AIG) shares were up after the company said it plans to sell its stake in AIA Group, a Hong Kong-based life insurance MOREHibah Yousuf - Dec 17, 2012 12:59 PM ET
Goldman Sachs (GS) CEO Lloyd Blankfein thinks Washington will resolve the fiscal cliff before the end of the year, but says 2013 will still be a tough year.
"The next 12 months will be tricky," warned Blankfein, speaking at a conference Wednesday hosted by The New York Times' Dealbook. "Any compromise will involve some dose of austerity -- a deflationary policy."
That's a stark contrast to fellow Wall Street titan Jamie MOREHibah Yousuf - Dec 12, 2012 1:18 PM ET
Stocks have lots of room to run, said Goldman Sachs senior investment strategist Abby Joseph Cohen at the Bloomberg Hedge Fund conference in New York Wednesday morning.
Cohen, a 22 year veteran of Goldman Sachs (GS), estimates that even after the 2012 market rally, stocks could rise another 10% to 15% in 2013. While Congress has given the U.S. population reason to worry about taxes and the fiscal cliff, the overall MOREMaureen Farrell - Dec 5, 2012 11:28 AM ET
Goldman Sachs (GS) has been part of the crime scene -- CBS' CSI: Crime Scene Investigation franchise, that is -- since 2007. Now, the investment banking behemoth may be ready to flee the scene.
After owning 50% of one of this decade's most popular television franchises, the bank's private equity arm, GS Capital Partners, is looking to make a quick getaway.
GS Capital Partners has been talking to potential buyers for MOREMaureen Farrell - Nov 29, 2012 12:39 PM ET
Major Wall Street banks shut their doors Monday and said they'd waive certain fees, as Hurricane Sandy barrels toward the East Coast.
Citigroup (C) shuttered all of its branches in Manhattan and said only a handful of branches in New York, Boston, Philadelphia, Connecticut and Delaware would remain operational Monday. The bank's branches in Maryland, Virginia, and the District of Columbia were all open for business Monday.
JPMorgan Chase (JPM) planned to MOREMaureen Farrell - Oct 29, 2012 12:23 PM ET
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