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Callahan's Cleveland Diary (Free subscription) | yesterday
On the PD’s list of potential buyers for National City: Wells Fargo. Headquarters: San Francisco Branches: 6,675 Deposits: $293 billion, plus Wachovia’s $422 billion; $715 billion total Founded: 1852 Comments: Yes, it’s buying Wachovia and that’s a project. But the California bank is the strongest bank in the United States and one of only two banks in the world that [...]
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Cincinnati Enquirer (Free subscription) | 10/11/2008
Analysts are doubtful that regional banks such as National City and Key Bank of Cleveland, Cincinnati-based Fifth Third and Columbus-based Huntington National Bank will directly benefit from federal dollars if the Treasury does what it suggested this week and makes direct investments into troubled institutions.
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The San Francisco Business Times (Free subscription) | 10/10/2008
National City, the troubled Cleveland bank, appears headed for a sale ahead of the three-day weekend, always a popular time for sewing up major bank mergers. (NCC) (BAC) (WB) (JPM) (WB) (AXP)
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Red Orbit (Free subscription) | 10/10/2008
S&P MAINTAINS STRONG BUY OPINION ON SHARES OF INTERNATIONAL BUSINESS MACHINES (IBM; 90.55): IBM announces preliminary third quarter results, including EPS of $2.05, vs. $1.68, and $0.03 above our estimate. Revenue rose 5%, aided by currency effects, but missed our 8% growth estimate.
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Cincinnati Enquirer (Free subscription) | 10/10/2008
Shares in National City Corp., Ohio's biggest bank, rose Thursday after the Wall Street Journal reported the company is in discussions with a number of suitors about a possible sale.
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Philadelphia Inquirer (Free subscription) | 10/10/2008
CLEVELAND - National City Corp. isn't talking about a report that it's looking to be bought, possibly by PNC. The Wall Street Journal cited unnamed sources in reporting yesterday that National City is in talks with several banks.
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Detroit Free Press (Free subscription) | 10/10/2008
National City Corp. isn't talking about a report that it's looking for a buyer. The Wall Street Journal cites unnamed sources in reporting Thursday that National City is in talks with several banks. ALSO: Oil below $85 a barrel; AIG cancels conference; Apparel chains see lower profits.
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Forbes (Free subscription) | 10/10/2008
Lender seems a possible takeover target, but at a low price.
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Times of the Internet (Free subscription) | 10/09/2008
CLEVELAND, Oct. 9 (UPI) -- National City, a regional U.S. bank, reportedly is up for sale after recent credit downgrades led to a steep drop in share prices. The Cleveland Plain Dealer Thursday said the bank's most likely buyers include PNC Financial Services Group of Pittsburgh and the Bank of Nova Scotia of Toronto. Declines in National City's credit ratings have contributed to the bank's shares...
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The Street (Free subscription) | 10/09/2008
Regional bank stocks took a nosedive on Thursday as the short-selling ban was lifted and pessimistic comments regarding the sector continued to hang in the air. National City was an outlier, as the bank's stock was buffeted by rumors of a sale.
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The Street (Free subscription) | 10/09/2008
Regional bank stocks took a nosedive on Thursday as the short-selling ban was lifted and pessimistic comments regarding the sector continued to hang in the air. National City was an outlier, as the bank's stock was buffeted by rumors of a sale.
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Forbes (Free subscription) | 10/09/2008
Shares of the bank soared on rumors that it could be acquired by a larger competitor.
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Business Week (Free subscription) | 10/09/2008
TJX Companies () sees lower-than-expected $0.55-$0.58 third quarter EPS from continuing operations, primarily reflecting lower-than-expected sales. Says this range is based upon estimated consolidated comp-store sales growth for the quarter of about flat to up 1%. Due to lower guidance, now expects fiscal year 2009 EPS from continuing operations to be in the range of $2.26-$2.31, with comp-store sales...
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San Diego Union (Free subscription) | 10/09/2008
NATIONAL CITY: A team of teachers at Palmer Way Elementary School was recognized by the school board for students' extraordinary achievement on last spring's math and English tests.
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Business Week (Free subscription) | 10/09/2008
TJX Companies () sees lower-than-expected $0.55-$0.58 third quarter EPS from continuing operations, primarily reflecting lower-than-expected sales. Says this range is based upon estimated consolidated comp-store sales growth for the quarter of about flat to up 1%. Due to lower guidance, now expects fiscal year 2009 EPS from continuing operations to be in the range of $2.26-$2.31, with comp-store sales...
