This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Friday's Headlines: General Motors

(At 6:34 a.m. EDT)

Friday's Early Headlines

¿ BankUnited Becomes Largest Bank Failure in 2009. - BankUnited (BKUNA) was seized late Thursday by the Office of Thrift Supervision, which said the Florida bank "was critically undercapitalized and in an unsafe condition to conduct business." The Federal Deposit Insurance Corp. estimated that the cost to its deposit insurance fund will be $4.9 billion.

¿ U.S. Steering GM into Bankruptcy. - The Washington Post reported Friday that the Obama administration is preparing to send General Motors (GM - Get Report) into bankruptcy under a plan that would give the automaker tens of billions of dollars more in public financing. The report, which cited sources familiar with the discussions, said GM would receive nearly $30 billion in federal loans under the drafted plan. After surging 32% Thursday, GM shares were a penny higher at $1.93 in Friday's premarket session.

¿ TARP Warrant Sale Could Help Banks, Hurt Taxpayers. - Bloomberg reported Friday that banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Program, or TARP, money may shortchange taxpayers by almost $10 billion if the first sale is any indication. While 17 financial institutions have repaid TARP funds, only one has come to terms with the U.S. on the value of the rights to buy stock that taxpayers received for the risk of recapitalizing the industry, Bloomberg said. Old National Bancorp (ONB) gave the Treasury Department $1.2 million for warrants that may have been worth $5.81 million, according to Bloomberg's data.

¿ Bank of Japan's View of Economy Improving. - Japan's central bank modestly upgraded its economic assessment Friday, saying the economy was still deteriorating, but exports and production are beginning to level out. It was the first time the Bank of Japan raised its assessment of the economy in nearly three years.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AIG $64.49 -0.06%
BLK $338.19 -0.17%
GPS $36.43 1.10%
GM $31.75 -0.50%
RBS $10.67 0.19%

Markets

Chart of I:DJI
DOW 17,761.28 +15.30 0.09%
S&P 500 2,112.74 +4.11 0.19%
NASDAQ 5,147.3310 +18.5460 0.36%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs