Bank Talks: Fear of Nationalization?
After a hellish week in the stock market, a pop in the coming week is expected and inevitable. Even though BAC and C went down a lot this week, I believe that they will come back up. As soon as rumours of nationalization get cleared, they will no doubt turn around. I may be wrong, [...]
Tagged as: bank of america, banks, bear market, bear stearns, citigroup, countrywide financial, hope, JP Morgan, merrill lynch, nationalization, overreaction, stimulus plan, washington mutual, wells fargoTotal Chaos in the Stock Market
There were lots of speculation as what will happen to Lehman Brothers on Monday. Not surprisingly, they just filed for Chapter 11 Bankruptcy Protection around 12:30 am on Monday. Meanwhile, Bank of America is buying Merrill Lynch for $44 billion at $29 a share.
I don’t understand why in the world would Bank of America would [...]
Visa IPO
Visa started trading on the NYSE on Wednesday, March 19. Visa IPO is considered the largest IPO in US history, with 406 million shares sold at $44 per share, raising $17.9 billion USD. Perhaps Visa is the popular credit card in the world, as its universal acceptance is greater than that of MasterCard and American Express.
Tagged as: american express, bank of america, convenience, credit, growth, ipo, mastercard, nyse, paperless, universal, visaBank of America Is Close to Buying Countrywide
IMO, this news is really unexpected. CFC is losing money in every quarter and is close to going bankrupt. Out of the blue, Bank of America, the 2nd largest US bank, is buying Countrywide Financial Corp. Congrats to those who bought this just before 2:30 PM. Be sure to take some profits, and just be careful because [...]
Tagged as: bank of america, bankrupt, countrywide, takeover, volatile