BNET Industries
Washington Mutual Inc. (WM) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $25.5B
- Profit
- Dec 31 2007
- ($67.0M)
- Market Cap
- Jul 17 2008
- $5.2B
Latest News and Analysis
Citigroup Losses Better Than Expected
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters UK) - Citigroup C posted a smaller-than-expected quarterly loss, despite $11.7 billion (5.85 billion pounds) of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totalled $2.5 billion, the...
Citigroup $2.5 Billion Loss Soothes Investors
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters) - Citigroup Inc C posted a smaller-than-expected quarterly loss, despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totaled $2.5 billion, the...
SEC Shorting Restrictions: Are Some Banks Being Set Up?
Michael Shedlock submits: While pondering SEC Restricts Shorting 19 Financial Stocks I could not help but notice the financial institutions conspicuously absent from the ruling.With that in mind let's recap the list of shorting curbs placed by the SEC. by Michael Shedlock
What Pushed the SEC to Tighten the Rules - Now?
Mark McQueen Wellington Financial submits: WSJ News item: SEC to stop “naked” short selling of financial stocks: Under current rules, a short seller must first locate shares to borrow, but does not have to enter into a contract with the share lender. Often, more than one trader...
Wells Fargo Leads Bank Shares to Huge Gains
By Jonathan Stempel NEW YORK (Reuters) - Wells Fargo & Co WFC led U.S. bank shares to their biggest gains in well over a decade on Wednesday after reporting a surprisingly high profit and increasing its dividend. The KBW Bank Index of...
Wells Fargo Results Ease Fears, Shares Surge
By Jonathan Stempel NEW YORK (Reuters) - Wells Fargo & Co WFC, the fifth-largest U.S. bank, reported surprisingly strong quarterly results and raised its dividend, easing investor fears about mortgage losses and causing its shares to soar on Wednesday. Profit fell 23 percent...
Next Week Is a Big One for Bank Reports
Richard Shaw QVM Group submits: The next seven days will see most of the banks in the KBW large bank index KBE reporting. That should be an interesting time with all the news and gyrations of the past few days. Here is a list of the members of...
U.S. Bank Default Risk Rises; European Bank Default Risk Falls
Hickey and Walters Bespoke submit: As global financial stocks have fallen significantly over the last week, you would think default risk has risen as well. However, while default risk has risen significantly for U.S. banks and brokers, it has actually fallen for the European firms. Below we highlight...
The Upside of Falling Bank Stocks
Felix Salmon submits: Financial stocks are plunging right now: If Fannie FNM and Freddie FRE can be brought to their knees, then no bank is safe. And falling bank stocks are systemically very worrying: The equity cushion is an important part of the way in which banks protect themselves...
Going Private, Lehman Edition
Felix Salmon submits: Lehman Brothers LEH is now trading at $12 a share, which is less than its asset-management business alone is worth. So at this point it makes perfect sense for CEO Dick Fuld to go private, sell off Neuberger Berman, and basically get the rest of...
City + Bank of America Losses = Rest of U.S. Banks Value
Paul Kedrosky submits: By my calculation, the two largest U.S. banks, Citi C and Bank of America C, have over the last year lost roughly as much in market capitalization as is the current value of the other six U.S. banks combined. To be specific, Citi and...
Spotting Banks In Danger
David Enke submits: The SEC is looking to expand investigations into the spread of false rumors that may affect the financial system. Articles at Reuters and Bloomberg mention the recent slide in Freddie Mac FRE and Fannie Mae FNM, as well as Lehman Brothers LEH, for the increased SEC...
Financials Down 6.1% - Like the Days of the Tech Bust?
Hickey and Walters Bespoke submit: The S&P 500 Financials sector had its worst day of the credit crisis yesterday, declining 6.1%. The one-day declines in many of the banks reminded us of the worst days during the bursting of the Tech bubble. To compare the two,...
Well-Capitalized Regional Banks: The Bottom Is In
Matthew Rafat submits: I am calling a bottom in well-capitalized regional bank stocks. When the New York Times publishes an article titled, "Analysts Say More Banks Will Fail" by Louise Story we have a good contrarian indicator. But here's what makes me angry: the reporter cites Richard Bove...
Bank Shares Plummet Amid Stability Fears
By Dan Wilchins NEW YORK (Reuters) - The shares of major U.S. banks plunged on Monday amid fears about the sector's stability following Friday's seizure by regulators of IndyMac Bancorp Inc IMB as withdrawals by panicked depositors led to the third- largest ...
WaMu Says Well-capitalized After Shares Sink
NEW YORK (Reuters) - Washington Mutual Inc WM said it is "well capitalized" with more than $40 billion of liquidity and $150 billion of retail deposits, moving to reassure investors and depositors after shares of the largest U.S. savings and loan...
Monday Options Outlook: XLF, WM, AMZN, CCE, PGB, CBG, VIX
Rebecca Engmann Darst co-authored this article. Financial Select Sector SPDR XLF ? Despite opening higher on news of the Fannie Mae and Freddie Mac lifeline, the financial sector ETF quickly turned tail to show a downtick of 1.5% to $18.38. Implied volatility on all XLF options remains extremely...
Bond Expert: Monday Wrap
John Jansen submits: Prices of treasury coupon securities surged today as the weekend rescue of FNMA FNM and Freddie Mac FRE did little to remove the residue of fear which clings to the financial markets. While the GSEs received the imprimatur of Treasury Secretary Hank Paulson, fear and anxiety...
Farewell, IndyMac: What's Next? (Part II)
Mike Stathis submits: See part I here. Say Hello to the ‘70s Those of you who are familiar with my previous publications know my real estate forecasts remain unchanged since first published in 2006. To reiterate, I’m expecting an average decline from peak prices of 30% (best case...
Financial Markets and the Three Bears
By Natsuko Waki LONDON (Reuters) - With the Goldilocks economy long gone, investors this week will wrestle again with the three bears of financial markets -- banking woes, slow-to-stagnant economic growth and rising inflation. On the blocks are the latest readings on inflation...
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- Incorporated: 1994
- CEO: Mr. Kerry K. Killinger
Washington Mutual is a thrift holding company providing financial services to consumers and small businesses. Co. has four operating segments for management reporting purposes: the Retail Banking Group, which as of Dec 31 2007, operated a retail bank network of 2,257 stores across 15 states throughout the U.S.; the Card Services Group, which operates a nationwide credit card lending business; the Commercial Group, which conducts a multi-family and commercial real estate lending business in certain markets; as well as the Home Loans Group, which engages in single-family residential real estate lending, servicing and capital markets activities.
Key Competitors
Washington Mutual Inc. Company Info
Board of Directors
Mr. Kerry K. Killinger
Chairman
Mr. Charles M. Lillis
Mrs. Regina T. Montoya
Ms. Margaret Osmer McQuade
Mr. Orin C. Smith
Mr. Stephen E. Frank
Mr. Stephen I. Chazen
Mr. Thomas C. Leppert
Mr. Phillip D. Matthews
Mr. Michael K. Murphy
Mr. William G. Reed Jr.
Mr. James H. Stever
Mr. David Bonderman
Contact Information
1201 Third Avenue
Seattle, WA
206 461-2000
NAICS Code
Savings Institutions: 522120Brought to you by IBMSponsored Resources
