Raymond James Recruits 3 Wirehouse Teams, $875M in Client Assets
Meanwhile, Morgan Stanley and Merrill Lynch grab advisors from each other in the latest recruiting push.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
Dow Average Tops 17,000 as Payrolls Rise Amid ECB Plans
Records set for Dow industrials, S&P after Labor Dept. reports 288,000 new jobs in June and Mario Draghi reveals European stimulus plans.
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.