16 of 19 stress-tested banks raise $75.2B in capital since early May, mostly by selling stockJune 8th, 2009 Stress-tested banks raise $75.2 billion in capitalSixteen of the 19 large banks that underwent government stress tests last month have raised more than $75 billion in capital, either because regulators required it or because the banks want to return federal bailout funds. Banks have also been issuing debt to prove to officials that they can finance operations on their own.
Bank of America shares surge ahead of stress test results; 2 analysts upgrade stockMay 9th, 2009 Bank of America surges before stress test resultsNEW YORK — Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a pair of analyst upgrades.
Stock futures rise after bank stress test results, ahead of jobs reportMay 8th, 2009 Wall Street points higher ahead of jobs reportNEW YORK — Wall Street pointed to a higher open Friday as investors hoped for signs of moderation in job losses in April and showed relief at the results of the government's bank stress tests. The Labor Department's monthly employment report is a key gauge of the state of the economy, and investors were hoping the report to be released before the market opens would show fewer job losses last month than in March.
Wells Fargo announces plans for a $6 billion stock offering after stress test resultsMay 8th, 2009 Wells Fargo announces $6 billion stock offeringSAN FRANCISCO — Wells Fargo & Co. said Thursday it plans to offer $6 billion of common stock to the public.
Bank of America, Boeing, Macy's, Symantec among big market movers ThursdayMay 8th, 2009 Bank of America, Boeing, Macy's big moversNEW YORK — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
Bank of America Corp., up 82 cents at $13.51
Two analysts upgraded the bank ahead of the "stress test" results, saying it will be able to raise the capital regulators require. Boeing Co., down 67 cents at $43.53
The jet maker said orders for its commercial airliners dropped 71 percent in April from the same time last year.
Bank of America quietly seeking help to find new directors after shareholder revoltMay 8th, 2009 Bank of America seeks new board membersCHARLOTTE, N.C. — Bank of America Corp.
After stress tests, Amex, JPMorgan, Bank of New York Mellon won't be asked to raise moneyMay 6th, 2009 Amex, JPMorgan, Bank of New York Mellon pass testsWASHINGTON — Leaked results of the government's stress tests of 19 large banks are boosting investor confidence in the financial sector. American Express Co., JPMorgan Chase & Co.
Bank of America shares rise in premarket trading amid reports it needs $34 billion in capitalMay 6th, 2009 Bank of America may need $34B in new capitalNEW YORK — Bank of America Corp. stock rose as investors appeared comforted by reports that the bank has the means to cover a potential $34 billion shortfall in capital.
Bank of America shares rise in premarket trading amid reports it needs $34 billion in capitalMay 6th, 2009 BofA shares rise amid reports of $34B shortfallNEW YORK — Bank of America Corp. stock rose Wednesday as investors appeared comforted by reports that the bank has the means to cover a potential $34 billion shortfall in capital.
Bank of America shares fall in premarket trading on reports it needs $34 billion in capitalMay 6th, 2009 BofA shares fall on reports of $34B shortfallNEW YORK — Bank of America stock is falling in premarket trading amid reports that it needs $34 billion in new capital. The Wall Street Journal and New York Times are reporting regulators are telling the Charlotte, N.C.-based bank it needs about $34 billion in capital based on results of government "stress tests." Both reports cite anonymous sources.
Bank stocks give back some of prior day's big gains, dip ahead of stress test resultsMay 5th, 2009 Bank stocks mostly lower ahead of stress testsNEW YORK — Bank stocks were mostly lower Tuesday as investors took profits ahead of results of the government's stress tests. The KBW Bank Index, which tracks 24 of the nation's largest banks, dipped 1.7 percent after jumping 14.7 percent on Monday.
Investors turn cautious after big gains, await bank stress test results, economic dataMay 5th, 2009 Stocks mixed after prior day's big gainsNEW YORK — Caution returned to Wall Street Tuesday ahead of results of the government's stress tests of banks. Stocks were narrowly mixed in early trading following a big advance Monday that sent one key Wall Street indicator, the Standard & Poor's 500 index, into positive territory for the year and the Dow Jones industrials up more than 200 points.
10 US banks need more capital: ReportMay 5th, 2009 NEW YORK - About 10 large US banks will need to increase their capital under a government stress test to measure their health, a news report has said, citing people familiar with the discussions. Citigroup, the Bank of America and Wells Fargo are among the 19 banks being examined by the Obama administration who may need to raise more capital to protect themselves against the ongoing financial crisis, the Wall Street Journal reported Tuesday.
Government stress tests show Wells Fargo needs more money to survive deeper recessionMay 4th, 2009 Wells Fargo asked to raise money after stress testWASHINGTON — Regulators have told Wells Fargo & Co. to shore up its finances after government "stress tests" showed the bank would have trouble surviving a deeper recession.
Bank of America, Office Depot, GM, Bristol-Myers Squibb are big market movers TuesdayApril 28th, 2009 Bank of America, Office Depot, GM big moversNEW YORK — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
Bank of America Corp., down 77 cents at $8.15
Sources said the bank will need to raise more cash if it can't convince the government its "stress test" results are in error. Office Depot Inc., up 29 cents at $2.82
The office products chain posted a loss, but excluding charges relating to store closings, results were better than analysts expected.
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