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NEW YORK (AP) -- Shares of some top finance companies were down at the close of trading: Bank of America fell $.44 or 2.8 percent, to $15.19. Citigroup fell $.14 or 3.8 percent, to $3.56. JPMorgan Chase fell $.91 or 2.2 percent, to $40.86.
Dec. 15 (Bloomberg) -- U.S. stocks fell for the first time in five days, led by financial shares, as Citigroup Inc. moved toward selling shares to repay government bailout funds and credit-card delinquencies increased at JPMorgan Chase & Co.
Bank of America Corp. said Tuesday it has tentatively agreed to drop a clause from its credit card contracts that requires disputes with customers to be handled through binding arbitration rather than through the courts.
The transfer of wealth to Wall Street does nothing to lower unemployment, but it sure gets stocks soaring again.
Call buyers are out in force, betting good money that Zimmer will spring higher in the next five weeks.
NEW YORK (AP) -- Shares of some top finance companies are down at noon: Bank of America fell $.36 or 2.3 percent, to $15.27. Citigroup fell $.14 or 3.8 percent, to $3.56. JPMorgan Chase fell $.88 or 2.1 percent, to $40.89.
Dec. 15 (Bloomberg) -- The Federal Deposit Insurance Corp. gave banks including Citigroup Inc. , Bank of America Corp. and JPMorgan Chase & Co. a reprieve of at least six months from raising capital to support billions of dollars of securities the firms will be adding to their balance sheets.
Most U.S. credit card companies reported charge-offs rose in November after two months of declines in a sign that consumers remain under stress, sending shares down industrywide.
A report says that 38 percent of all U.S. stock trading is now done by firms that have "naked sponsored access" to markets, the controversial trading practice said to imperil the marketplace, and which faces a regulatory crackdown.
As banks rushed to repay bailout money, they were in a stronger position to resist government demands that they change their practices.
NEW YORK (AP) -- Shares of some top finance companies are down at 10 a.m.: Bank of America fell $.26 or 1.7 percent, to $15.37. Citigroup fell $.05 or 1.4 percent, to $3.65. JPMorgan Chase fell $.28 or .7 percent, to $41.49.
Bank shares led a late-session selloff Tuesday, breaking Wall Street's four-session win streak, as investors mulled mixed reports on inflation and manufacturing and opted to step back.
Data released Tuesday by the major U.S. credit-card issuers reinforce the challenges facing lenders. The latest numbers, from issuers including Capital One Financial Corp. COF, JPMorgan Chase & Co. JPM and Bank of America Corp. BAC, indicate that consumers remain stressed by high rates of joblessness.
NEW YORK (Reuters) - Capital One Financial Corp and Discover Financial Services reported that credit-card charge-offs rose in November -- a sign that consumers remain under stress.
Asserting that it “is among the strongest banks in the industry,” Citigroup announced on Monday that it would soon repay $20 billion of federal bailout money.
Zacks Analyst Blog Highlights: Citigroup Inc., Bank of America Corp., Wells Fargo & Co., Goldman Sachs Group Inc. and JPMorgan Chase & Co.
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