Prepare for Dow 12,000 if Oil Shock Shakes Market
While an oil supply shock is not a Citigroup report’s “base case,” the ramifications of this “fairly fat tail risk” would be ugly.
Citigroup Shares Rise as Profit, Revenue Beat Estimates
Citigroup Inc. rose as much as 4.6%, the most in more than 15 months, after the bank posted a surprise increase in first-quarter profit and revenue.
SEC Enforcement: SEC Busts Scheme Involving Stock Tips on Napkins
Also in enforcement, the SEC fined Lions Gate Entertainment and froze assets of the promoter of a microcap stock scalping scheme.
SEC, DOL Enforcement: Big Four Accounting Firms Must Disclose China-Related Records
Meanwhile, DOL wins a $10 million settlement in ESOP case and Massachusetts bars an advisor for fraudulent, unethical activities.
Goldman Reports Highest Profits in 3 Years
Underwriting revenue at Goldman Sachs surged to a record, and the firm’s reliance on trading fell to the lowest level in more than a decade.
Uncertainty Prevails in Bank Sector as Q4 Earnings Season Kicks Off
Some analysts expect the major banks to have "sluggish" earnings, but others see the market momentum as working in their favor.
Meredith Whitney to Lead Hedge Fund
The popular analyst is known for correctly predicting Citi's woes and erring in her outlook of muni bond doom.
New Hire Roundup: CFPB Names Antonakes Deputy Director
Justin Frys became a branch manager for Zeigler in Minnesota, and Chad Parks joined Beacon Research as sales director.
How Morgan Stanley Advisor Used LinkedIn to Land a $70M Account
Morgan Stanley advisor Mitchell Rock talks about how he uses LinkedIn to land clients.
SEC, DOL Enforcement: Oppenheimer Portfolio Manager Misled Clients
SEC accuses ex-Oppenheimer & Co. portfolio manager of misleading investors about fund returns; DOL orders theater workers' pension trustees to repay more than $2.2 million.