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Earnings misses, subprime woes punish Wall Street

U.S. stocks tumbled on Friday, battered by disappointing results from such bellwethers as Caterpillar and Google, and more signals that fallout from the risky subprime mortgage market may spread.

Citigroup profit up 18 pct. on international growth

Citigroup Inc., the largest U.S. bank, said on Friday that strong international growth fueled a higher-than-expected 18 percent increase in quarterly profit. Revenue rose faster than expenses for a second consecutive quarter, as Chief Executive Charles Prince continued to emphasize controlling costs.

Bank of America net up 5 percent, tops views

Bank of America Corp., the second-largest U.S. bank, said on Thursday quarterly profit rose 5 percent, as private equity and investment banking gains offset lower retail banking earnings and worsening loan quality.

Schwab profit up 16 percent as client assets rise

Discount brokerage Charles Schwab Corp. posted a 16 percent increase in second-quarter profit on Tuesday as new policies to attract clients paid off.

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Bank of America says U.S. Trust clients staying on

Bank of America Corp. said on Monday it completed its $3.3 billion purchase of the U.S. Trust business from Charles Schwab Corp., and is defying analyst concern that it would have trouble retaining many of U.S. Trust's ultra-wealthy clients.

Citigroup's Japan Expansion

After more than 100 years as a niche player in Japan, the world's largest financial firm is expanding its retail operations.

Morgan Stanley seeks stake in Taiwan's Chinatrust

Morgan Stanley has applied to buy up to 10 percent of Chinatrust, Taiwan's largest credit card issuer, local media reported on Monday.

Citigroup, Merrill top underwriters amid strains

Wall Street underwriters kept busy in the second quarter, yet ebbing investor appetite for lower-rated debt and riskier assets may dampen their summer.

Australia court clears Citigroup of insider trading

Court ruled the U.S. bank's 'Chinese Walls' were not breached when it traded shares in a company it knew was a takeover target.

AES stock up after Citigroup rates it a buy

Shares of AES Corp. rose on Friday after they received an upgrade to buy from hold from Citigroup, which said the power company's weak recent share performance and good outlook provide an entry point for investors.

Blackstone IPO raises $4.13 bln

Blackstone Group LP, the largest private equity firm to go public, said on Thursday it raised $4.13 billion in an initial public offering priced at the top of a forecast range in the biggest U.S. IPO in five years.

Dow Jones premium price likely a one-time deal

News Corp.'s $5 billion bid for Dow Jones & Co. Inc. may have fueled a modest rally among newspaper stocks but it's unlikely to spark similar deals or push publishing sector takeover values higher, analysts say.

Blackstone IPO draws high non-U.S. demand: report

Private equity firm Blackstone Group's initial public offering was about seven times subscribed, boosted by demand from Asia, the Middle East and Europe, the Financial Times reported on Thursday.

U.S. groups present divided view of South Korea pact

U.S. businesses painted dramatically different portraits of a new trade deal with South Korea on Wednesday, some touting lucrative sales opportunities and others charging the Bush administration had brought home an abominable deal for U.S. workers.

Markets may spoil wealth management party - survey

The global wealth management sector showed lavish growth last year, with assets under management rising 14 percent, a survey showed, but the bonanza might be over if stock markets turned.

Citigroup flags interest in German banks

Citigroup flagged its interest in buying a bank in Germany on Tuesday but played down recent talk that it was about to swoop on Commerzbank.

Blockbuster shares up 10 pct after Citi upgrade

Shares of Blockbuster Inc. rose more than 10 percent on Wednesday after Citigroup upgraded the No. 1 movie rental chain to buy from hold in response to new plans aimed at undercutting rival Netflix Inc.

Blockbuster takes on Netflix with mail-only plans

Blockbuster Inc. introduced on Tuesday an Internet-only DVD rental service priced below a similar Netflix plan, sending Netflix shares down 9 percent as the online movie rental war heated up again.

Indexes tumble as bond yields jump to 5-yr high

U.S. stocks fell sharply on Tuesday as bond yields shot to their highest in five years, stoking fears that higher borrowing costs could cut into corporate profits and discourage takeovers.

Citigroup Unveils $50B Climate Change Initiative

Citigroup, Inc. (NYSE: C) unveiled a $50 billion initiative to address global climate change by supporting the commercialization and growth of alternative energy and clean technology.

Circuit City Down on Weak Guidance

Shares of Circuit City Inc. (NYSE: CC) slumped in Tuesday trading after the retailer predicted a loss for the first quarter of 2008, and withdrew its previously issued outlook for the full year.

Cummins Beats Expectations, Boosts Profit Forecast

Diesel engine maker Cummins Inc. (NYSE: CMI) reported a higher first-quarter profit on Friday, citing stronger sales of industrial power equipment. The firm also boosted its full year earnings forecast, sending shares up more than 11 percent.

Yahoo! Shares Drop 11 Pct. on 1Q Results

Investors sent shares of Internet portal Yahoo Inc. (NASDAQ: YHOO) plummeting more than 11 percent on Wednesday, after the firm posted weaker-than-expected earnings and revenue.

Report: Sallie Mae In Takeover Talks

Shares of SLM Corp., the largest U.S. student loan provider, (NYSE: SLM) jumped on Friday after a published report said the firm is in talks with private equity groups for a possible sale of the company.