Citigroup already broke the ice. There is less market impact for Bank of America.
I can't say if this forces anyone's hand, but it suggests that Capital One's time as a stand-alone entity might be limited, and raises its potential value in the marketplace.
[The productivity report is] a good thing for corporations because it means wages are being kept down and efficiency is going up and that should improve profitability, ... We should be able to rally from here to the end of the year.
Wachovia's numbers looked good.
I know a lot of people were bracing for the worst. But they've righted the ship, stabilized things and have everybody rowing together. And you have one of the best market environments in some time.
They just can't get out of their own way. Citigroup may need to further disassemble parts of its operations to satisfy shareholders.
It's symptomatic of issues going on beneath the surface. They're still trying to get their house in order. Their stock hasn't been doing very well.
Broadly diversified financial services firms, and banks in particular, are looking to augment their revenue, ... This is essentially a bet that the U.S. consumer, contrary to what you may read, is not tapped out.
The magnitude of the surprise was bigger than most people were expecting, ... Earnings and revenue were driven by proprietary trading and M&A activity and its role as prime broker and clearinghouse for hedge funds.
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