The Buzz
-
Big banks still a legal nightmare
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
It's been a great year for bank stocks. The KBW Bank Index (BKX) has surged more than 30%, easily outperforming the broader market. And Bank of America (BAC) is up nearly 70%, making it by far MORE
Paul R. La Monica - Oct 11, 2012 12:29 PM ET -
Trulia stock soars in debut
Real estate search firm Trulia (TRLA) kicked off life as a public company with a bang.
Trulia's stock opened 30% above its IPO price when it started trading on the New York Stock Exchange Thursday morning. It quickly gained momentum, rising as high as $25 (47% above the IPO price).
Late Wednesday, Trulia's underwriters, J.P. Morgan (JPM) and Deutsche Bank (DB), sold 6 million shares at $17 apiece -- above the MORE
Maureen Farrell - Sep 20, 2012 11:12 AM ETPosted in: Deutsche Bank, IPO, JPMorgan Chase, New York Stock Exchange, real estate, search engine, trulia, Zillow -
JPMorgan Chase names new head of 'London Whale' unit
JPMorgan Chase (JPM) named Craig Delany, a 20-year veteran of the bank, as head of its chief investment office -- the unit that oversaw a $5.8 billion trading loss earlier this year. A spokesperson for the bank said the change was announced in an internal memo.
Delany's promotion comes as the bank continues to recover from its so-called London Whale trading losses and tries to refurbish its image as the best MORE
Maureen Farrell - Sep 6, 2012 4:44 PM ET -
Investors follow the money to bank stocks
The bank stock surge continues.
Investors, high on pledges from the European Central Bank to buy more sovereign bonds and better-than-expected U.S. employment numbers, grew euphoric on what those moves could mean for banks' profits.
Bank stocks, including JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), and Citigroup (C), shot up roughly 4% Thursday.
It was also a hot topic on StockTwits, where at least one tweeter was keen to point MORE
Maureen Farrell - Sep 6, 2012 2:39 PM ET -
Slightly larger bonus checks expected on Wall Street
Paychecks for executives and top employees at the world's largest financial institutions are expected to get only a little bit bigger in 2012.
Compensation at the big banks will remain far below the highs of 2007, but overall, top executives could see paychecks and bonuses jump by as much as 10% in 2012.
Compensation consulting firm Johnson Associates projects that overall pay will hover between remaining flat and increasing up to 10%, MORE
Maureen Farrell - Aug 17, 2012 11:21 AM ETPosted in: Bank of America, big banks, citigroup, compensation, Goldman Sachs, JPMorgan Chase, Morgan Stanley, paychecks, Wells Fargo -
Banks behaving badly
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
Happy days are here again for the stock market. If you love round numbers, then today is your day. The Dow is back above 13,000. Nasdaq has vaulted above 3,000 again. And the S&P 500 has MORE
Paul R. La Monica - Aug 7, 2012 12:55 PM ETPosted in: banks, Barclays, citigroup, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, standard chartered -
Banks are boring. Hip hip hooray!
It's a good thing that Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) still do some good, old-fashioned retail banking. The Wall Street business stinks.
Citi reported a better-than-expected second quarter profit Monday -- despite year-over-year declines in investment banking as well as equity and fixed income trading. Shares were up on the news, following a nearly 5.5% pop for Citi on Friday on the back of JPMorgan's kitchen sink MORE
Paul R. La Monica - Jul 16, 2012 12:26 PM ET -
Big banks are big mess. Run away!
The fun never ends with JPMorgan Chase (JPM). Shares fell nearly 4% Thursday following reports that the loss tied to its bad hedge (or is it a trade?) may now be $9 billion.
This should not come as a big surprise to anyone following the story. JPMorgan Chase CEO Jamie Dimon first said back in May that the loss was $2 billion. And not long after that, experts were claiming that MORE
Paul R. La Monica - Jun 28, 2012 12:38 PM ET -
Goldman Sachs: Buy JPMorgan, hold off on Morgan Stanley
Goldman Sachs (GS) told investors early Tuesday to buy JPMorgan Chase (JPM), and stop buying Morgan Stanley (MS).
JPMorgan Chase was upgraded to a so-called "conviction list buy," which, in Goldman Sachs' parlance, means run out and buy it. Conversely, Morgan Stanley was downgraded to a "hold" from a "buy."
Both banks have seen share prices fall precipitously this year, because of what Goldman's analysts say are "idiosyncratic events," including potential repercussions MORE
Maureen Farrell - Jun 26, 2012 12:26 PM ET -
Live blog: Jamie Dimon back on Capitol Hill
JPMorgan Chase CEO Jamie Dimon returned to Capitol Hill, this time to get grilled by both Democrats and Republicans from the House Committee on Financial Services.
Before Dimon took the hot seat, lawmakers threw questions at several regulators including Securities and Exchange Commission chairman Mary Schapiro, U.S. Comptroller of the Currency Thomas Curry, Commodity Futures Trading Commission (CFTC) chairman Gary Gensler, FDIC acting chairman Martin Gruenberg and the Federal Reserve's general counsel Scott Alvarez.
The regulators effectively pointed fingers MORE
Hibah Yousuf - Jun 19, 2012 1:50 PM ET
- Herbalife soars. Get Bill Ackman a vitamin?(1:01)
- Will Tumblr make Yahoo cool again?(1:16)
- No life of luxury: Nordstrom stock falls(0:52)
- Kohl's is the anti Wal-Mart(1:03)
- Nothing runs like a Deere (investor)(1:16)
- Who says video game stocks are dead?(1:22)
- Bond investors fear another 1994(1:09)
- The Gap is cool again?(1:03)
