The Deal
Monday, November 23, 
2:38 pm

Bank Watch: Market dives after auto bailout fails

  Share     E-Mail    Discussion    Print Story
Stocks sunk due to the Senate's rejection of the $14 billion auto bailout, which could lead General Motors Corp. into bankruptcy. News of a $50 billion fraud scheme on Wall Street didn't help financial stocks out. The Dow was fell 128.79 at 8,436.30, the S&P 500 was down 13.79 at 859.80, and the Nasdaq slipped 14.66 points to 1,493.22.

Continue reading below

Also on Dealscape

More layoff were announced Friday morning at several banks. Bank of America Corp. announced it could lay off 35,000. J.P. Morgan Chase & Co. is still down after CEO Jamie Dimon told CNBC that the bank was having a "terrible" November and December and that it has used its portion of government bailout money to lend aggressively, but didn't need the $25 billion TARP funds. - 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. 28.45 28.77 -1.17 107.37B
Merrill Lynch & Co. 11.98 12.17 -0.50 19.46B
Goldman Sachs Group Inc. 65.89 67.35 -2.36 26.63B
Morgan Stanley 12.95 13.03 -0.71 13.83B
Citigroup Inc. 7.08 7.38 -0.19 40.21B
Fannie Mae 0.62 0.64 -0.03 688.77M
Freddie Mac 0.64 0.66 -0.02 427.12M
Bank of America Corp. 14.12 14.39 -0.52 72.20B
Wachovia Corp. 4.88 4.97 -0.05 10.73B6
Wells Fargo & Co. 24.97 25.46 -0.44 84.66B
American International Group Inc. 1.7 1.68 -0.05 4.51B
Sovereign Bancorp Inc. 2.54 2.57 -0.10 1.70B
National City Corp. 1.7 1.72 0.00 3.50B
Fifth Third Bancorp 7.24 7.51 -0.05 4.33B
Capital One Financial Corp. 26.25 27.56 -0.29 10.79B
SunTrust Banks Inc. 26.35 27.18 -0.01 9.62B
U.S. Bancorp 24.48 24.80 -0.05 43.51B
Regions Financial Corp. 8.15 8.41 0.11 5.81B
KeyCorp 7.69 7.76 -0.21 3.84B
PNC Financial Services 46.44 46.02 -0.63 16.02B
BB&T Corp. 26.44 26.61 -0.60 14.70B
Bank of New York Mellon Corp. 26.32 26.57 -0.42 30.49B
State Street Corp. 37.59 36.88 -1.89 15.93B
Source: The Deal




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.