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Entries tagged "Sovereign Bancorp"Finance Layoffs: Sovereign Bancorp and moreThe latest banks to announce layoffs are Sovereign Bancorp and First National Bank of Georgia. Finance Layoffs: UBS, T. Rowe and SovereignMore pink slips are being doled out Wednesday at UBS (NYSE:UBS), T.Rowe Price Group (NASDAQ:TROW) and other banks. Bank Watch: Dow surges over 900 pointsStocks rallied. The Dow shot up 936 points surging to 9,387, the Nasdaq gained 194 points to 1,844.25, and the S&P 500 climbed 104 points to 1,003. It was a good day for financial institutions, which had been battered last week by the market. Particularly Morgan Stanley's stock is recovering after the company closed a $9 billion deal to sell a 21% stake to Mitsubishi UFJ Financial Group Inc. On the other hand, Sovereign Bancorp Inc.'s shares were down after reports that Banco Santander SA confirmed it was in negotiations to buy the largest remaining U.S. savings and loan. -... Bank Watch: Getting back on trackFollowing a series of cash injections by central banks and international government plans to aid the markets stocks surged this morning. The Dow was up 449 points to 8,900, the Nasdaq gained 93 points to 1,743, and the S&P 500 climbed 48.94 points to 948. Meanwhile, the three-month dollar Libor dove to the lowest its been since March. It fell 6.625 basis points lower at 4.75250 percent, according to CNBC. In the financial sector, Morgan Stanley got a lift after Mitsubishi UFJ Financial Group, Inc. finally closed on its $9 billion equity investment in the bank. Sovereign Bancorp also announced... Rewarding Wall Street's failuresBank CEOs have been under fire lately for the mortgage mess they helped fuel, and now they're receiving heat for the golden parachutes some of them have received on their way out the door. The brouhaha over executive exit packages has escalated so much so recently that politicians are calling for the proposed U.S. bailout to limit the exit compensation of CEOs of banks that choose to participate in the plan. ... Bank Watch: Picking up the piecesAfter Monday's bloodletting, investors scooped up shares on news that a revised bailout plan could be voted on Wednesday or Thursday. The Dow was up over 300 points. Even the regional banks bounced back up. Sovereign Bancorp shares more than doubled with news that CEO Joseph Campanelli will be replaced by Paul Perrault. - Maria Woehr Prices at 10:30 am EDT Troubled Wall Street Prices as of 2:00pm EST Name Price at open Price at 2:00pm Change Mkt cap J.P. Morgan Chase & Co. 44.63 46.22 5.24 158.96B Merrill Lynch & Co. 23.26 24.67 2.68 37.72B Goldman Sachs Group Inc.... Santander may answer Sovereign's SOS signalBanco Santander SA has a major presence in Europe and Latin America, but when it comes to the U.S its only beachhead in the country is its minority holding in Sovereign Bancorp. So, when the second-largest savings and loan pronounced a potential crisis, its Madrid-based parent along with other investors are reportedly making plans to send help in the form of a $2 billion capital infusion.... Citigroup to shed $400B in assetsWith investors once again worrying about the plight of financial companies, crippled banking titan Citigroup Inc. has outlined its plan for the future, which includes "winding down" assets by as much as $400 billion.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Sovereign Bancorp." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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