Richard Bove

Rochdale Securities banking analyst Dick Bove was critical of a weekend New York Time's article on Citigroup (NYSE: C), saying the writers missed the point and that "Citigroup is already dead."

Bove explains, "A small portion of what was Citigroup, called Citicorp, will arise as a very successful company. But Citicorp is not Citigroup and Citicorp is not too big to fail."

Bove says Citigroup is being liquidated, and the ongoing part of this company only has approximately 40% of what the old Citigroup controlled. Once ...

Rochdale Securities' bank analyst Dick Bove downgraded ...

Yesterday's late sell-off in stocks is being attributed in the main stream business media to Rochdale Securities banking analyst Dick Bove's downgrade of Wells Fargo (NYSE: WFC). While sensationalized less, some pros even suggested that some of the selling pressure was related to the call.

Late yesterday afternoon, as noted at StreetInsider.com, Bove downgraded Wells Fargo to Sell. Bove called the bank's earnings low-quality and said profits were boosted from real estate hedging.

Today on Fox Business Network Bove explained his call more clearly. Bove told FOX Business Network's Alexis Glick ...

Barclays raises their price target on Wells Fargo & Company (NYSE ...

Good morning. Long time readers of Daily State of the Markets know that I am a firm believer in the idea that the indices don’t move a hundred points or so in a matter of minutes just for the heck of it. No, my feeling is that if you dig hard enough, you will discover that there is a reason behind every big move in the market. The reason may not always be logical, but if we can understand why the market moved the way it did, it can help us understand what is driving the action.

So… in light of the fact that the DJIA was up 30 points or so with less than an hour to go in the session yesterday and then dove to finish with a loss of -92, well, from where I sit, there has to be a reason. Or in this case, a number ...