Archive | December, 2012

Wells Fargo Stores Mortgage Revenue Ahead of Refinancing Boom’s End

Wells Fargo has been a big winner in the mortgage market lately, but the decision to forego third-quarter profits on home loans shows the bank knows the party won’t last. The country’s largest mortgage banker kept $9.8 billion worth of new conforming mortgages on its books this past quarter rather than selling them to investors. […]

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Citi shares climb after bank announces 11,000 job cuts

Citigroup is cutting costs like it’s going out of style. The third-biggest bank by assets announced it will chop 11,000 jobs, or about 4 percent of its workforce, today to boost profitability and scale-down the once-heralded financial supermarket. After former CEO Vikram Pandit left in mid-October, Citigroup (C) realigned focus toward operations and efficiency. Mike […]

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Why are Apple Shares Sliding?

Apple shares fell sharply Wednesday, leaving investors and traders searching for the reasons for the fall.  Shares in Apple (AAPL.O) closed down 6.43 percent, dragging down the NASDAQ index along with it. The NASDAQ Composite index closed down 0.06 percent. The Dow Jones Industrial Average index closed up 0.64 percent, while the S&P 500 index closed up 0.16 percent on Wednesday. Some […]

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