A Bail-Out For Bond Insurers? (MBI, ABK)
Watch for a big run-up in Ambac (NYSE: ABK) and MBIA (NYSE: MBI) tomorrow. These stocks had major run-ups today in the last 90 minutes of trading as word of this began coming out,…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 302A Book Of Etiquette For Sovereign Funds
Worries over the actions of sovereign funds from China, Singapore, and the Middle East have government officials in the US and the UK voicing concerns about whether all of their large financial institutions will…
Bank of America Earnings Fall Short (BAC)
Bank of America (NYSE: BAC) has just posted earnings at $0.05 EPS, while First Call had estimates at $0.18 on last look. Net income was actually $268 million in the quarter even though B…
Sovereign Funds Bring Bad Image With Cash (C)(MER)
Getting a much-needed investment when a company is in deep trouble is nice. But, when it damages the firm’s public reputation it takes away some of the joy of surviving. According to the FT,…
Can Barron’s Save MBIA From Ambac’s Fate? (MBI, ABK)
There was an interesting article in this weekend’s edition of Barron’s. The financial weekly bible is noting that, despite the turmoil and perhaps terminal verdict of bond insurers, there may actually be some significant…
Merrill Lynch (MER) May Face A Judge
Merrill Lynch (NYSE:MER) sold the city of Springfield Mass a financial instrument which lost 90% of its value. According to The Wall Street Journal "Merrill violated state law by not properly informing the city…
NYSE Buys AMEX, Becomes ETF King (NYX)
The NYSE Euronext (NYSE: NYX) is finally acquiring the American Stock Exchange. NYSE is paying roughly $260 million entirely in NYSE stock to acquire its tiny rival exchange. Amex members (full seat owners) will…
Would Warren Buffett Rescue The Bond Insurers? (ABK, MBI, MTG, BRK-A)
Shares of Ambac Financial Group, Inc. (NYSE: ABK) are being crushed even harder today than yesterday by more than 60% to around $5.00. The problem is that Moody’s has put it under review for…
Vulture & Value Investing With Chimera Investment (CIM, NLY, LM)
Chimera Investment (NYSE: CIM) is an investment vehicle that is set up to invest in mortgages per its charter, although as we noted the day of the initial filing that this is going to…
Merrill Lynch Monster Writedowns (MER)
Merrill Lynch (NYSE: MER) has issued its loss for the quarter at -$12.57 EPS for Q4, -$10.73 EPS for all of 2007. The total loss in dollars was listed as $8.6 Billion for the…
Would Fannie & Freddie Lift Conforming Limits in Stimulus Package? (FRE, FNM)
If you look at the share prices in Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) you might wonder if this is euphoria over the fact that there is at least some decent…
A Disconnect In Online Broker Stocks (SCHW, AMTD, ETFC)
TD Ameritrade (NASDAQ: AMTD) is set to report earnings tomorrow morning. What is interesting is that Joe Moglia’s discount broker is down today, while Charles Schwab (NASDAQ: SCHW) is trading higher after its earnings…
Medallion Financial Corp. Interview: 24/7 Wall St. Exclusive (TAXI, HMR)
When you have ridden in a taxi cab, have you ever thought of the business metrics behind the business of being a cab driver? I have. Medallion Financial Corp. (NASDAQ:TAXI) is the business that…
AMBAC Comes Clean & Runs The Gauntlet (ABK, MBI)
Ambac Financial Group, Inc. (NYSE: ABK) has finally come clean, but this coming clean is so brutal that it will be dirty. Below are some of the summary changes, many of which are substantial:…
JPMorgan Chase EPS, Fuel For Bulls & Bears Alike (JPM)
JPMorgan Chase (NYSE: JPM) posted earnings of $3 Billion in net income with a generation of $0.86 EPS vs $0.92 estimates. Revenues were $18.275 Billion on a consolidated basis, while First Call had just…