Bank of America drops the bomb

Discussion in 'Wall St. News' started by Daal, Oct 6, 2008.

  1. Daal

    Daal

    Cuts dividend 50%(meredith whitney bought into the CEO lies and thought it was sustainable), raising $10b and taking charge-offs of $6b
     
  2. not a huge bomb. at least they still made money and still have a div.
     
  3. S2007S

    S2007S

    Earnings were suppose to be on Oct 20th, I guess they just wanted to get the bad news out of the way and hopefully ride the possible global rate cut wave this week.....

    :)
     
  4. nkhoi

    nkhoi Moderator

    that 's pretty smart, front running bad news .
     
  5. kaciara

    kaciara

    an higher core tier I target
     
  6. #1 weighting in XLF. It won't be pretty in am for XLF.
     
  7. LOL the XLF is down a whopping 1/10 %..what a painful selloff...
     
  8. capmac

    capmac

    $7+ now...

    Seems like every big bank is following Citi's footsteps.
     
  9. Daal

    Daal

    dividend inexistent now, that CEO needs to step down, CFC MER and saying a huge yield was sustainable
     
  10. "Even if the dividend is larger than the share price, it's still sustainable" said the analyst, While remaining straight-faced. :cool:
     
    #10     Jan 16, 2009