The New Goldman Sachs Model: Quarterly Losses (GS, C, BRK-A)
Goldman Sachs Group (NYSE: GS) had been the one spot in the brokerage sector which was immune from the credit crunch and nearly immune from the mortgage mess. In fact, the company made a…
Banking, finance, and taxes
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Newest first · Page 261Wells Fargo Offering Larger Than A Super-IPO (WFC, WB, BRK-A)
Wells Fargo & Company (NYSE: WFC) has priced that monster share offering. Rather than $10 billion being raised, it is more like $11 billion. The banking giant priced 407.5 million shares at $27.00 per…
Pandora Opens The Credit Card Receivables Box (BAC, C, AXP)
Everyone has been looking for the next shoe to drop in the financial sector where it ties in with the consumer. Everyone thought this would be credit cards now that primary mortgages, secondary mortgages,…
GMAC: An Explosion In The Boiler Room For Cerberus
Cerberus has invested billions of dollars into the US auto industry. Its best-known deal was its purchase of 80% of Chrysler. That investment is probably worth nothing. Its other highly visible deal was the…
Greenhill Files To Sell Shares (GHL)
Greenhill & Co., Inc. (NYSE: GHL) has filed to sell up to 3.5 million shares of common stock in a secondary offering. The offering will allow the company and certain stockholders to sell shares…
S&P Throws Wrench In Hexion-Huntsman Deal (HUN)
Standard & Poor’s debt ratings group is raising a red flag which could cause some added skepticism over the Apollo-backed Hexion Specialty Chemicals’ acquisition of Huntsman Corp. (NYSE: HUN). S&P has lowered the credit…
Daily Slaughterhouse: FCStone Group (FCSX)
FCStone Group, Inc. (NASDAQ: FCSX) is getting crushed after its update on liquidity, credit issues, and commodity volatility. The commodity risk management firm now expects to incur up to a $25 million pre-tax bad…
The Bailout Gets Too Big
The Treasury may have to hire circus clowns and insurance salesmen to keep track of all the US banks it is bailing out. Now that the really large money center and regional banks have…
Credit Card Losses, Next Big Trouble For Banks
Word is starting to get around town that Citigroup (C) has some more trouble coming and it could show up as soon as the next quarter. In this case, Citi’s problems may not be…
Barclays (BCS) Shows Why Taxpayer Bailouts Are Junk
Barclays (BCS) turned down cash from the UK government. Unlike most large US banks, it did not want to trade independence for money. Companies such as Goldman Sachs (GS), JP Morgan (JPM), and Citigroup…
AIG Borrows From Peter To Pay Paul In Debt-Arbitrage (AIG)
American International Group Inc. (NYSE: AIG) disclosed in a filing today that four affiliates applied for participation in the Federal Reserve Bank of New York’s Commercial Paper Funding Facility. It is harder to tell…
Boeing Raising Up to $5 Billion (BA)
The Boeing Company (NYSE: BA) has filed for a shelf registration to allow its Boeing Capital Corporation unit to raise up to $5,000,000,000.00 ($ billion) via the sale of debt securities.
CME’s Mixed Bag (CME)
CME Group Inc. (NYSE: CME) has reported earnings of $2.81 GAAP EPS on revenue of $681 million, but non-GAAP earnings were $4.13 EPS if you include NYMEX and CME merger operations. The numbers today…
CME Owners Bracing For Earnings (CME)
CME Group Inc. (NYSE: CME) is set to report earnings after the close of trading today. The futures and commodities exchange giant estimates (from First Call) are $3.98 EPS and $644.3 million in revenues. …
Huntman & Hexion Vs. Bankers, Trouble Merger-Land? (HUN)
Huntsman Corporation (NYSE: HUN) is now indicated down after a rise yesterday. Apparently, Deutsche Bank and Credit Suisse have said they do not want to fund the Apollo-led merger with the Hexion merger financing.