Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 23, 2008 4:44:08 PM CDT

Learn about Newser Points »

Stories related to: Bank of America

Stories

Stories 1 - 20 of 47

<< Prev 1 2 3 Next >>
  • July 2008

    • Pharma, Tech Kill Early Gains

      newser  |  MarketWatch  |  Jul 21, 08 3:40 PM CDT

      Pharma, Tech Kill Early Gains

      The markets failed to hold on to early-session gains today as oil rose above $131 per barrel and the overall economic outlook remained downcast, MarketWatch reports. The Dow lost 29.23 points to close at 11,467.34, the Nasdaq fell 3.25 to 2,279.53, and the S&P 500 dropped just 0.68, settling at 1,260.00. More »

      Tags

      Google  • S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Bank of America  • pharmaceutical companies  • Merck  • Schering Plough

    • Bank of America Posts Slide but Beats Q2 Expectations

      newser  |  Wall Street Journal  |  Jul 21, 08 7:33 AM CDT

      Bank of America Posts Slide but Beats Q2 Expectations

      Bank of America reported a 41% decrease in net income today, beating analyst expectations as writedowns shrank to $1.22 million in the second quarter from $2.81 billion a quarter earlier, reports the Wall Street Journal. The bank also said it expects to make money this year from its takeover of troubled mortgage lender Countrywide. More »

      Tags

      subprime crisis  • Bank of America  • quarterly earnings  • Countrywide  • Kenneth Lewis

    • Lender Woes Keep Lid on Gains

      newser  |  MarketWatch  |  Jul 10, 08 3:39 PM CDT

      Lender Woes Keep Lid on Gains

      The markets ended with modest gains today, led by a rally in financials despite continued anxiety over the future of Freddie Mac and Fannie Mae, MarketWatch reports. Treasury chief Henry Paulson and Ben Bernanke's call for greater regulatory powers encouraged investors. The Dow gained 81.58 points to 11,229.02, the Nasdaq rose 22.96 to 2,257.85, and the S&P 500 gained 8.70 to 1,253.39. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Bank of America  • financial stocks

    • Tech Triggers Big Drop

      newser  |  Wall Street Journal  |  Jul 9, 08 3:37 PM CDT

      Tech Triggers Big Drop

      Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55 to close at 2,234.89, and the S&P 500 lost 29.01, settling at 1,244.69. More »

      Tags

      S&P 500  • Nasdaq  • oil price  • Dow Jones Industrial Average  • Citigroup  • Bank of America  • Cisco Systems

  • May 2008

    • Stocks Rise on Healthy Data

      newser  |  Wall Street Journal  |  May 29, 08 3:33 PM CDT

      Stocks Rise on Healthy Data

      The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to 2,508.32, and the S&P 500 rose 7.41 to 1,398.23. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Bank of America  • Wells Fargo  • MasterCard  • Visa

  • April 2008

    • Banks Face New Loan Crisis: Rebuilding Reserves

      newser  |  Wall Street Journal  |  Apr 22, 08 12:17 PM CDT

      Banks Face New Loan Crisis: Rebuilding Reserves

      Within Bank of America’s disappointing first-quarter earnings was an unwelcome harbinger for the banking industry, the Wall Street Journal reports. BofA’s results were dragged down by huge additions to its loan-loss provision, an expense many other banks will also record soon. Given current credit conditions, many banks will have to increase their bad-loan reserves, dragging down their earnings. More »

      Tags

      credit market  • Bank of America  • writedowns  • earnings  • investment banks

    • Wal-Mart Tops Fortune 500

      newser  |  Fortune Magazine  |  Apr 21, 08 4:07 PM CDT

      Wal-Mart Tops Fortune 500

      Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports. ChevronTexaco (No. 3) and GM (No. 4) swapped places, and ConocoPhillips again rounded out the top 5. More »

      Tags

      General Motors  • Citigroup  • Wal-Mart  • Ford  • Bank of America  • AT&T  • ExxonMobil  • General Electric  • Chevron  • ConocoPhillips  • Fortune 500

    • Stocks Tick Down on BofA Woes

      newser  |  Wall Street Journal  |  Apr 21, 08 3:39 PM CDT

      Stocks Tick Down on BofA Woes

      Stocks ended mostly down today after a poor quarterly report from Bank of America and spiking crude prices. "We got a reminder this morning that banks and financials are still digesting credit problems," an investment strategist told the Wall Street Journal . The Dow ended down 24.34 at 12,825.02, the Nasdaq up 5.07 at 2,408.04, and the S&P 500 down 2.16 at 1,388.17. More »

      Tags

      stock market  • Bank of America

    • Bank of America Posts 77% Dive on $6B in Writedowns

      newser  |  Bloomberg  |  Apr 21, 08 8:00 AM CDT

      Bank of America Posts 77% Dive on $6B in Writedowns

      More than $6 billion in subprime writedowns sent Bank of America profits skidding for the third straight quarter today, as the nation's second-largest bank posted a 77% decline in net income for the first quarter. Earnings were $1.21 billion, down from $5.26 billion a year ago, reports Bloomberg. The losses exceeded analysts’ expectations by some 44% and sent market futures into a slide this morning. BofA—in the process of acquiring troubled home lender Countrywide Financial—said revenue slipped 6%. More »

      Tags

      mortgage crisis  • corporate earnings  • Bank of America  • writedowns  • Countrywide Financial  • Kenneth Lewis

    • Stocks Flat After Day in Red

      newser  |  MarketWatch  |  Apr 17, 08 3:27 PM CDT

      Stocks Flat After Day in Red

      The Dow ticked up 1.22 points to close at 12,620.49 today, after a flood of mixed earning reports mostly kept stocks down during the session. One analyst was impressed the market didn’t dip, saying it “seems to be holding up relatively well, especially after yesterday’s rally.” The Nasdaq was off 8.28 points, closing at 2,341.83, and the S&P rose 0.85 to 1,365.56. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • Merrill Lynch  • Bank of America  • IBM  • Pfizer

  • March 2008
  • February 2008
  • January 2008

    • Sallie Mae Drops $900M Lawsuit

      newser  |  Washington Post  |  Jan 29, 08 9:31 AM CST

      Sallie Mae Drops $900M Lawsuit

      Beleaguered student loan provider Sallie Mae yesterday dropped its $900 million lawsuit against the onetime suitors who bailed on a $25.3 billion buyout after the credit crunch caused would-be investors to walk away, reports the Washington Post . By agreeing not to seek the penalty from investment firm JC Flowers and several partners, Sallie Mae secured $31 billion in financing. More »

      Tags

      lawsuit  • credit crisis  • private equity  • JPMorgan Chase  • Bank of America  • student loans  • Sallie Mae  • JC Flowers and Co  • SLM Corp

    • BoA Writes Down $5.28B; 4Q Net Income Drops 95%

      newser  |  Wall Street Journal  |  Jan 22, 08 9:30 AM CST

      BoA Writes Down $5.28B; 4Q Net Income Drops 95%

      Bank of America said today its net income plummeted 95% in the fourth quarter, and it wrote down $5.28 billion in collateralized debt obligation. Net income for the largest retail bank and credit-card issuer was $268 million, or 5 cents per share, compared to $5.26 billion, or $1.16 a share, last year. The company had previously estimated write-downs in excess of $3 billion, the Wall Street Journal reports. More »

      Tags

      Bank of America  • writedowns  • net income

    • BofA Faces Big Risks With Countrywide

      newser  |  New York Times  |  Jan 12, 08 1:18 PM CST

      BofA Faces Big Risks With Countrywide

      For Bank of America CEO Kenneth Lewis, buying beleaguered mortgage lender Countrywide Financial fits into his retail strategy to offer customers full-service banking and, in the process, sell additional services, reports the New York Times. But, whether BofA can cross-sell Countrywide’s customers aggressively enough to offset potential losses from the damaged lender’s mortgage business is a huge unknown. More »

      Tags

      Bank of America  • Countrywide Financial  • Kenneth D. Lewis

    • Bank of America Buys Countrywide for $4B

      newser  |  Bloomberg  |  Jan 11, 08 6:52 AM CST

      Bank of America Buys Countrywide for $4B

      Bank of America, five months after throwing a $2 billion lifeline to rapidly sinking Countrywide Financial, will pay nearly $4 billion in stock to save the damaged mortgage lender. The deal makes BofA the nation's largest mortgage lender and loan servicer and should help build a bulwark against the still-spreading default crisis, the Wall Street Journal notes. But fund manager Eric Schopf tells Bloomberg: “I hope Bank of America isn’t throwing good money after bad.”  More »

      Tags

      mortgage crisis  • acquisitions  • Bank of America  • Countrywide Financial

Stories 1 - 20 of 47

<< Prev 1 2 3 Next >>

Today's Most Popular

Loading...

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »