regional banks Archives • Rutherford Investment

Bill Rutherford Quoted In CNNMoney.com

Stocks rally on housing rescue

Dow surges 290 points as investors consider what the Fannie and Freddie bailout means for the broader economy.

by Alexandra Twin, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — Stocks surged Monday, with the Dow gaining 290 points and the broader market also gaining as investors breathed a sigh of relief that the government has swooped in to bail out Fannie Mae and Freddie Mac.

The Dow Jones industrial average (INDU) added 290 points or 2.6%. The broader Standard & Poor’s 500 (SPX) index added 1.8%, paring its morning gains. The Nasdaq composite (COMP) added 0.6%, after climbing in the morning and then falling in the afternoon. […]

September 8th, 2008|Categories: Bill Quoted|Tags: bailout, credit markets, dow jones, dow jones industrial average, economic slowdown, fannie mae, global economy, jon burnham, lehman brothers, new york mercantile exchange, new york stock exchange, paulson, regional banks, Rutherford Investment Management, steven goldman, stock market, treasury secretary, william rutherford|Comments Off

Bill Rutherford Quoted In The Wall Street Journal

Anchor Bancorp Drops 16%; Pioneer Drilling Up 8.4%

by Kejal Vyas

Renewed concerns over large financial firms and their ability to withstand a global economic correction trickled over to other sectors Tuesday, helping small-capitalization stocks close in negative territory.

Weighing on the financial sector was an avalanche of less-than-encouraging news, starting with several analysts warning about Goldman Sachs’s earnings.

Additionally, J.P. Morgan Chase said it is taking a $1.5 billion write-down on mortgage-backed securities, Morgan Stanley said it is buying back $4.5 billion in auction-rate securities and Wachovia revised its second-quarter loss lower.

Among small-cap financials, regional banks made up the biggest losers as Anchor Bancorp Wisconsin dropped $1.48, or 16%, to $7.97 after posting a 44% drop in fiscal-first-quarter net income. Not too far behind were shares of Sterling Financial, which slumped a dollar, or 10%, to 9.17. […]

August 13th, 2008|Categories: Bill Quoted|Tags: capitalization stocks, energy stocks, mortgage backed securities, new york mercantile exchange, new york stock exchange, regional banks, Rutherford Investment Management, wall street journal, william rutherford|Comments Off

Bill Rutherford Quoted By Associated Press

Wall Street’s credit crisis heads into second year

by Joe Bel Bruno, AP Business Writer

NEW YORK (AP) – There are new signs that the worst of the global credit crisis is yet to come, and that banks and brokerages caught up in the market turmoil may lose $1 trillion by the time it has passed.

Major U.S. investment banks this week announced yet another painful quarter amid the implosion of mortgage-backed securities and risky credit investments. Regional banks have scrambled to secure fresh capital to stay in business, and by Wednesday there was new talk that embattled investment bank Lehman Brothers might be forced into a sale. […]

June 18th, 2008|Categories: Bill Quoted|Tags: credit crisis, david viniar, global credit, goldman sachs, international monetary fund, investment bank, lehman brothers, market turmoil, morgan stanley, mortgage backed securities, regional banks, Rutherford Investment Management, state treasurer, william rutherford|Comments Off