Take-Two Interactive (TTWO) chairman Strauss Zelnick overplayed his hand. He continued to refuse a buyout bid from larger game company Electronic Arts (ERTS). Now Take-Two shareholders will pay for Zelnick’s error. According to The…
AIG (AIG) will sell several divisions to raise the capital it needs to stay independent. According to The Wall Street Journal the big insurance company "plans to disclose a comprehensive restructuring by early Monday…
Convinced that a Lehman (LEH) Chapter 11 could cause huge losses for other large financial institutions, the weakest players have become desperate to find partners or buyers. According to The Wall Street Journal, Merrill…
Several media reports say that large financial firms are trying to reduce their risk to deals that they have with Lehman (LEH) in the event that the firm begins a liquidation later today. According…
After appearing to be the front-runner for buying Lehman (LEH), rumors say that Barclays (BCS) has dropped out of the bidding completely. The reason seems to be that the federal government refuses to back…
Sorting out the potential aspects of a rescue of Lehman (LEH) has become like working on the puzzle of a Rubik’s Cube. The front runner in the bidding is probably Barclays (BCS), but that…
We normally would not use 24/7 Wall St. as any venue for non-stock or non-financial news or issues, but there really is no other venue we have to use these photos for. I also…
I have weathered the rather large Hurricane Ike with my wife, our two cats, and a cat-in-law here at home in Houston, Texas. I wrote these notes around 9:45 AM local time and have…
Power off and on. Downtown has some. Winds are side-way. Branches are flying through the air. Jon Ogg reported live from our Houston bureau described a storm which is as bad as it could…
Lehman (LEH) may or may not open for trading on Monday morning. A number of experts believe that the broker’s problems must be resolved before Asia markets open, or that a panic may cause…
American International Group (AIG) Market worries that balance sheet is tearing to pieces. Down to $11.49 from 52-week high of $70.13. Lehman Brothers (LEH) Going out of business sale. Drops to $3.17 from 52-week…
Wall St. might make the argument that GE (GE) has more exposure to the credit markets than most huge companies because of its financial division. But, the current hammering of the shares may have…
AIG (AIG) as taken its turn in the penalty box today, joining Washington Mutual (WM), Lehman (LEH), and Merrill Lynch (MER). After after three quarters of significant write-offs, AIG is down 25% today for…
There are hundreds of thousands of jobs at stake if the current trends continue in the financial services sector. When you tally up the employment just at five troubled firms noted below, there are…
PharmaNet Development (PDGI), a clinical services company, lowered its 2008 forecast for the second time, projecting a loss of 25 cents to 58 cents per share on $358 million to $366 million in revenue.…
Oil refiners have had a very tough year. Since January, Marathon’s (NYSE:MRO) stock is off nearly 30%, Valero (NYSE:VLO) has plunged more than 50%, and Tesoro (NYSE:TSO) is off more than 60%. All got…
Whatever sympathy there might have been for Lehman (LEH) is quickly slipping away. The calls for the federal government to stay out of the matter and let the investment firm fail on its own…
There may be an interesting trend in the IT outsourcing game, and one that will seem counter-intuitive if you have witnessed the currency trends and jobs migration trends since 2002. This isn’t exactly breaking…
There are surprisingly few analyst calls today, but these are some of the top positive calls and upgrades with more than two hours to the market open: Diebold (DBD) Raised to Buy at Wedbush…
There are surprisingly few analyst calls today, but these are some of the top calls we have seen as downgrades with more than two hours to the market open: Danaher (DHR) Cut to Hold…