For Immediate Release
Chicago, IL – April 7, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Citigroup Inc. (C), JPMorgan Chase and Co. (JPM), Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and Goldman Sachs Group Inc. (GS).
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Here are highlights from Tuesday’s Analyst Blog:
Treasury Earns 8.5% from TARP
According to an SNL Financial report, the U.S. Treasury Department has earned an 8.5% annualized return from 49 banks that have repaid the bailout money they received as part of their participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis.
The return calculation excludes TARP companies that have partly repaid the bailout money and the companies that still have common shares held by the Treasury like Citigroup Inc. (C).
Most of the major institutions in the financial market such as JPMorgan Chase and Co. (JPM), Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and Goldman Sachs Group Inc. (GS) have repaid the TARP loan.
Also, the Treasury has started auctioning stock warrants it acquired from the banks that received taxpayers’ money and have fully repaid the same. The proceeds came from the auction of stock warrants acquired from the TARP banks. The return is calculated as on Mar 30.
Last month, the Treasury said that new loans tumbled in Jan 2010 at nine major banks, which received significant government aid through TARP during the height of the financial crisis and have not repaid yet.
According to the Treasury, the drop in loan originations in January could partially be a result of large increases in originations during November and December of 2009.
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