Word: stockings
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...stress test have come out, Citi's shares are down 8%, to a recent $3.50. That compares to a drop of just 2.5% in the same time for JPMorgan, which was deemed to be among the banks that are relatively healthy. "I think Citigroup is an interesting stock, but we don't own it," says Edward Maran, portfolio manager of the Thornburg Value Fund. "If the government gives the company the time to earn its way out of its problems, then I think the stock has a lot of upside. The question is whether it will...
...Citi's exam also included a $58 billion credit titled "Other Capital Actions." The credit is for the conversion of preferred stock that Citi says it plans to do but has not yet completed. Among the other 18 banks that were examined, only one other, Bank of America, was allowed to include a similar credit in the results of its stress test. And at $1.8 billion, BofA's credit was far less a factor in the outcome of its test than Citi's was. Since the stress tests, other banks have announced plans or have been able to quickly complete...
...Commission ruling hinged on two key issues. Firstly, that Intel abused its dominant market position with hidden financial incentives that restricted or blocked the use of AMD chips - which are cheaper, but have similar specifications - in computers sold in the E.U. Intel also paid major retailers on condition they stock only computers with Intel central processing units (CPUs...
Recessions are supposed to be a good time for small companies to grab competitors' business and grow - but if Britain's small cap market is anything to go by, many of those firms are struggling. The Alternative Investment Market (AIM), the London Stock Exchange's junior market for dynamic and fast growing smaller firms, has been hammered over the past year. The main index of its shares has slumped by 50% since the same time last year, far more than the losses on the FTSE 100, an index of Britain's leading shares. In the opening quarter...
...rebound? Its owner, the London Stock Exchange (LSE), is currently lobbying the government against rules that forbid Venture Capital Trusts (VCTs) from investing in AIM firms above a certain size. The limits have virtually wiped out funding from that source. The Exchange also wants VCTs to be able to pick up shares in the secondary market - something they're currently prevented from doing - not solely through new listings. The LSE also recently launched a service providing research on AIM companies which lack the kind of independent analysis wavering investors are after. (See pictures of the global financial crisis...