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Fixed Mortgage Rates Will Have A Negative Effect On The Real Estate Market, Citigroup Inc. (NYSE:C) Declines – (BAC, WFC, JPM)
Fixed mortgage rates have moved up for the third consecutive week after hitting all-time lows, according to Freddie Mac. Despite rates continuing to remain low, the fact that they have edged up over the last couple of weeks is of concern to a still wavering real estate market. If the latest trend in rates persists,…
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Home-Loan Issues Could Remain For Years, Only Financial Sector Declines – (BAC, AXP, WFC, MS, JPM)
The U.S. financial sector was unable to keep momentum with the overall stock market on Thursday, led down by shares of Morgan Stanley, Bank of America Corp., and American Express Company (NYSE:AXP) as investors got worried by disappointing second-quarter results, slow growth and other issues. In other news, giant banks such as Wells Fargo &…
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Top Five U.S. Banks Mark the Worst First-Half Since 2008 – VALE, CHK, FCX
The five leading U.S. banks witnessed the worst start to a year since 2008 and shockingly they are still telling investors to be patient. The combined revenue of Morgan Stanley (NYSE:MS), JPMorgan Chase & Co. (NYSE:JPM), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Goldman Sachs Group (NYSE:GS) in the first six months this year was…
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5 Banks Ready to Reduce Staff: Citigroup (NYSE:C), Morgan Stanley (NYSE:MS), Deutsche Bank (NYSE:DB), Goldman Sachs Group (NYSE:GS) and Bank of America (NYSE:BAC)
Citigroup Inc. (NYSE:C) and Morgan Stanley (NYSE:MS) are included in the list of Wall Street firms planning to lay off workers, as first-half revenues moved down for a third straight year. Morgan Stanley is expected to cut 700 jobs in the second half, which would put the yearly total at 4,000, according to Chief Financial…
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Fifth Third Bancorp (NASDAQ:FITB) Reports In-Line Profit But Misses Revenue Forecast – (C, AXP, JPM, NTRS, BAC, PNC, BLK)
Fifth Third Bancorp (NASDAQ:FITB) has recently posted second quarter 2012 profit of $385 million, as compared to profit of $430 million in the starting three months of 2012 and profit of $337 million in the second quarter of 2011. Net income available to common shareholders, after preferred dividends, was $376 million or $0.40 per diluted…
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Giants Banks Only Accepting FHA and HARP Loan Applications From Current Clients – (BAC, JPM, WFC)
The steps taken by the White House to drive extensive refinancing of mortgages for homeowners who owe higher than the value of their properties may be restricted by banks’ stretched lending capacity and their fears that the borrowers are too risky. The Obama administration in 2012 has called for a widespread refinancing effort to let…