The Deal
Monday, November 23, 
1:56 pm

Bank Watch: Wachovia execs get big bonuses; J.P. Morgan and Morgan Stanley prepare offerings

  Share     E-Mail    Discussion    Print Story
Stocks rallied on news that the Federal Reserve will create a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to buy consumer debt securities. The Dow was up 93.66 points at 8,537.05, the S&P 500 climbed by 10.98 points to 862.79, but the Nasdaq was down 0.19 points at 1,471.83. Most of the financial stocks remained in the green on Tuesday morning.

Continue reading below

Also on Dealscape

Wachovia Corp. is down as news that 10 of its top executives could get $98.1 million in severance after the bank is acquired by Wells Fargo & Co. Citigroup Inc. is still up after Monday's $20 billion bailout by the Fed. Morgan Stanley and J.P. Morgan Chase & Co. are up on news that the two banks are preparing offerings, taking advantage of the new U.S. program to guarantee debt. - Maria Woehr

Troubled Wall Street
Prices at 9:30am EST
Name Price at
open
Price
at 9:30am
Change Mkt cap
J.P. Morgan Chase & Co. 29.52 29.36 1.78 109.58B
Merrill Lynch & Co. 11.99 11.95 0.42 19.11B
Goldman Sachs Group Inc. 71.49 73.19 5.77 28.94B
Morgan Stanley 14.17 15.20 1.82 16.14B
Citigroup Inc. 6.39 6.31 0.36 34.38B
Fannie Mae 0.54 0.52 0.18 559.63M
Freddie Mac 0.67 0.62 0.17 401.24M
Bank of America Corp. 15.23 15.01 0.42 75.31B
Wachovia Corp. 5.25 5.19 -0.05 11.21B
Wells Fargo & Co. 27.14 26.77 0.75 89.01B
American International Group Inc. 1.74 1.72 -0.05 4.62B
Sovereign Bancorp Inc. 2.27 2.22 0.01 1.47B
National City Corp. 1.83 1.91 0.01 3.88B
Fifth Third Bancorp 9.04 9.00 0.32 5.19B
Capital One Financial Corp. 33.78 33.81 2.06 13.24B
SunTrust Banks Inc. 28.28 27.84 -0.47 9.85B
U.S. Bancorp 25.43 25.57 0.47 44.86B
Regions Financial Corp. 9.43 9.49 0.11 6.56B
KeyCorp 8.61 8.10 -0.01 4.00B
PNC Financial Services 50 51.25 2.70 17.84B
BB&T Corp. 28.49 28.17 0.76 15.56B
Bank of New York Mellon Corp. 32.34 31.50 -0.75 36.14B
State Street Corp. 38.43 37.97 1.88 16.40B
Source: The Deal
Reblog this post [with Zemanta]




Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.