Cisco and These 2 Mega Banks are Rocking the DJIA
The Dow Jones Industrial Average (NYSE:DIA) is down today 1.84% and stands at 11,735. The stocks below are among the lagging and declining performers today.
Bank of America (NYSE:BAC): A terrible day for stocks, even worse for financials, worst for major banks. Mike Mayo said on CNBC that large banks should be broken up as they pose a threat to the entire financial system. He specifically singled out Bank of America (NYSE:BAC) and Citigroup (NYSE:C) for poor corporate management. he also called on shareholders to replace top executives. Bank of America (NYSE:BAC) is down 5.42%.
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JP Morgan and Chase (NYSE:JPM): The decision by Papandreou to call a referendum about the terms of the bailout from the major European institutions has thrown worldwide markets into chaos, and hit large banks like JP Morgan and Chase in particular. The fallout from the MF Global bankruptcy is not helping matters either. JP Morgan is down 5.90%.
Cisco (NASDAQ:CSCO): Oppenheimer is bullish about Cisco (NASDAQ:CSCO), and said it would meet its targets that are set to be released this Wednesday. The downturn in the global markets have far superseded this upgrade. Cisco (NASDAQ:CSCO) is down 4.34%.
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