Stocks fell on Tuesday as a surprising drop in retail sales dented hopes the recession was abating and financial shares slid on fears that Goldman Sachs' share offering could prompt others to follow suit.
Chrysler LLC's first-lien lenders are preparing a counter-offer for the U.S. Treasury that might include equity in a Chrysler-Fiat alliance and some cash in exchange for abandoning their claim to some $7 billion in debt, sources with knowledge of the matter said.
Citigroup Inc shares surged to a three-month high on Tuesday on expectations of strong quarterly results, one day after Goldman Sachs Group Inc posted surprisingly strong earnings.
More U.S. chief executives got pay raises than had their pay cut in 2008, a year when billions in taxpayer dollars went to prop up struggling companies and millions of workers lost jobs, according to an AFL-CIO survey released on Tuesday.
Goldman Sachs Group Inc posted much higher-than-expected first-quarter profit as it took more trading risk, and said it plans a $5 billion common share sale to help pay back government funds.
Swiss bank UBS said it will cut 240 jobs in Asia-Pacific to cut costs, as Asian economies slow in a global financial crisis.
Citigroup is considering the sale of several assets in Japan to raise cash besides retail brokerage Nikko Cordial which is already on the market, according to a report.
On Monday Goldman Sachs showed yet another sign proving the recovery of banks after it beat Wall Street expectations with its $1.66 billion profit for the first quarter of 2009.
Goldman Sachs Group Inc posted much higher-than-expected first-quarter profit as it took more trading risk, and said it plans a $5 billion common share sale to help pay back government funds.
On Monday Citigroup Inc's and Bank of America Corp's shares saw a very positive rise and both banks expect to report first quarter profits in the same line as what was forecast last week by Wells Fargo & Co.
The S&P 500 and Nasdaq rose on Monday as bets that major banks will post reassuring quarterly results fueled a run-up in financials, offsetting uneasiness about the fate of General Motors .
Citigroup Inc has told potential buyers of its Japanese retail brokerage arm that it may also be willing to sell its Japanese investment banking and asset management operations, sources familiar with the matter said.
The S&P 500 and Nasdaq rose on Monday as bets that major banks will post reassuring quarterly results fueled a run-up in financials, offsetting uneasiness about the fate of General Motors .
Citigroup Inc's and Bank of America Corp's shares rose Monday on hopes that the two banks will post the same sort of first-quarter profits that Wells Fargo & Co forecast late last week.
Citigroup has told potential buyers of its Japanese retail brokerage arm that it may also be willing to sell its investment banking and asset management operations in Japan, sources familiar with the matter said.
The Dow and the Nasdaq declined on Monday, weighed by Boeing's disappointing outlook, a pullback in oil prices and worries about General Motors' fate.
Citigroup Inc's and Bank of America Corp's shares rose Monday on hopes that the two banks will post the same sort of first-quarter profits that Wells Fargo & Co forecast late last week.
U.S. stocks fell on Monday as energy shares slid along with oil prices' sharp drop on worries that demand will fall further, while Boeing's profit warning increased caution before earnings later this week.
Stocks fell on Monday as energy stocks retreated on falling oil prices and Boeing Co slid after it issued a profit warning, giving investors jitters ahead of key earnings reports this week.
If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.
If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.
The U.S. Treasury and Federal Reserve Bank have asked top U.S. banks not to discuss the “stress tests” which regulators are conducting to determine the viability of the companies, according to reports.
