Other Diversified Financial Services

No Franchise lasts forever. In the 1990's, the Chicago Bulls were considered the best basketball team ever. Today, the same sentiments do not exist. When the junk bond market was red hot in the 1980's, Donaldson, Lufkin & Jenrette was the premier investment bank on Wall Street. Before DLJ, the...

The Federal Housing Finance Agency may file a lawsuit again banks for misrepresenting the quality of mortgage bonds they sold during the housing bubble. Bank of America (NYSE: BAC), JPMorgan (NYSE: JPM), Goldman Sachs (NYSE: GS) and Deutsche Bank (NYSE: DB) may be named. The Federal Reserve has...

US stock futures are lower this morning, as investors are awaiting jobs data. Futures for the Dow Jones Industrial Average dipped 69 points to 11,396.00 and S&P 500 index futures fell 9 points to 1,192.30. Nasdaq 100 futures dropped 15.75 points to 2,201.50. US stocks closed lower on Thursday...

On Wednesday, the United States government sued AT&T (NYSE: T) to block its proposed $39 billion acquisition of T-Mobile USA from Deutsche Telekom AG. The Justice Department said that the transaction would "substantially lessen competition" in the wireless market. The government's position is...

The stock markets have rallied higher over the past week for several reasons. The first and most important reason for the stock market rally has been the comments of the Federal Reserve. Since the Jackson Hole speech by Federal Reserve Chairman Ben Bernanke the stock markets have rallied higher on...

Bank of America (NYSE: BAC) intends to sell its correspondent mortgage business and employees could be notified as soon as Wednesday, according to sources. The unit employs more than 1,000 people. Bank of America's 24.3% share of the correspondent market is second only to Wells Fargo.

The FDIC is filing an objection to Bank of America's (NYSE: BAC) proposed $8.5 billion mortgage settlement. Lehman will ask a bankruptcy judge to allow creditors to vote on its $65 billion payout plan.

Morgan Stanley is out with a research report on Bank of America (NYSE: BAC) and it has an Overweight rating and a $15 price target. In a note to clients, Morgan Stanley writes, "We view recent actions by BAC as confidence enhancing with BAC 1) monetizing half of its CCB stake generating $3.5b in...

Direxion Small Cap Bear 3X Shares (ETF) (NYSE: TZA) led the decliners among the ETFs on Monday, with a loss of 14.37%. TZA closed at $40.75, and it had a volume of 23.15M traded shares. VelocityShares Daily 2x VIX Short Term ETN (NYSE: TVIX) dropped 12.69%, and closed at $48.49. This was the...

Direxion Daily Small Cap Bull 3X Shares(ETF) (NYSE: TNA) spiked 14.32% on Monday, and it closed at $48.55. This was the second trading session in a row that TNA closed higher. Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) gained 11.79% as Bank of America Corp (NYSE: BAC) jumped 8.12%,...