Wachovia (WB) named a former Treasury official as its CEO. Robert Steel most recently served as undersecretary for domestic finance for the U.S. Department of the Treasury according to Reuters. He has also been a vice chairman at Goldman Sachs (GS).
The bank’s announcements did not end with that. The company said credit, mortgage and legal problems will result in a $2.6 billion to $2.8 billion second-quarter loss.Wall St. expected the numbers to be better.
WB trades at $14.29, well below its 52-week low of $53.10.
Douglas A. McIntyre
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats.
There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside.
If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.