Client News Release
UBS slashes target on Bank of America by 48 percent (Reuters) and [video] Raise Cash, Sell Puts to Survive (at TheStreet.com)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 12/03/2008 - Banking industry news provided by Financial News USA (OTC: FNWU). (Reuters) - UBS slashed its price target on Bank of America Corp (NYSE: BAC) by 48 percent, citing tighter credit conditions, uncertainty over near-term prospects of the Merrill Lynch & Co (NYSE: MER) deal and risk of additional write-downs. Tight credit conditions will continue into 2009 as banks focus on maintaining sufficient capital and liquidity levels in a difficult operating environment, analyst Matthew D O'Connor said in a note to clients."This will likely put further pressure on both consumers and commercial borrowers, leading to higher credit losses in 2009," he said.Bank of America, the No. 3 U.S. bank by assets, has loaded up on mortgages as the world's largest economy wrestles with the worst housing market since the Great Depression.The Charlotte, North Carolina-based bank further heightened its exposure to home loans by acquiring Countrywide Financial Corp, the largest U.S. [Read the full article]
© 1996-2008 TheStreet.com, Inc. All rights reserved.TheStreet.com's enterprise databases running Oracle are professionally monitored and managed by Pythian Remote DBA. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Hemscott. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. TheStreet.com Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period. IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month. © 1996-2008 TheStreet.com, Inc. [Read the full article]
NEW YORK, NY--(MARKET WIRE)--Dec 1, 2008 -- Thomas Weisel Partners (Nasdaq: TWPG), a global growth-focused investment bank, will host its inaugural Natural Resources Conference on Monday, December 1 at the New York Palace Hotel in New York. Institutional investors and company management will gather for this one-day conference, which will focus on opportunities and challenges in the energy and mining sectors for 2009 and beyond. Nearly 40 companies from around the globe, representing base metals, energy equipment and services, gold & precious metals, international oil & gas, oil & gas exploration and production and uranium, will be showcased at the conference. "We remain committed to focused coverage in the natural resources sector. The energy and metals & mining sectors have certainly
not escaped the downturn in the overall market we have seen this year. [Read the full article]
MIAMI--(BUSINESS WIRE)--Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) today announced that its Investacorp, Inc. independent broker-dealer subsidiary has formed a marketing affiliation with Ash Brokerage Corp, a national
leader and premier outsourcing partner to financial professionals for fixed and variable insurance products. Ash Brokerage, an independently-owned brokerage agency, will provide Investacorp's financial advisors with access to a dynamic portfolio of product resources in life insurance, fixed annuities, long-term care,
disability income, advanced markets and underwriting. [Read the full article]
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