Fannie Mae (NYSE:FNM) is seeing shares trade much lower after net income fell by more than half in the first nine months now that SEC filings for Q1, Q2 and Q3 have…
Moody’s has begun to downgrade the debt in a number of the structured investment vehicles that own huge pools of mortgage-related securities. According to The Wall Street Journal "in its report, Moody’s…
According to Reuters, Morgan Stanley (MS) has suffered a $3.7 billion loss from its mortgage portfolio, Reuters writes that shares in Cisco (CSCO) were driven down on concerns that orders from the…
Washington Mutual (WM) Mortgage company in bad environment. Down to $19.72 from 52-week high of $46.38. Capital One Financial (COF) Big financial loss. Down to $50.05 from 52-week high of $83.84. Fannie…
The FT says that the "super-fund" to bail out financial instruments tied to mortgage-backed securities may be dead. Speaking about the fund to the paper: “As far as we can see, it…
Douglas A. McIntyre The term "perfect storm" is overused by writers who have no other way to describe a disaster. Leaving that aside, the news from the last day would appear to indicate that a…
According to Reuters, profits rose 2.7% at Toyota (TM) and the company raised full-year forecasts. Reuters writes that GM (GM) will take a $39 billion non-cash charge in Q3 Reuters reports that…
Below is the short interest for major companies traded on the NYSE and changes from October 15, 2007 to the most current date, October 31, 2007. Company …
Stock Tickers: ANF, ARO, AEO, ANN, ADSK, BMRN, CA, CHS, C, COGN, CWTR, ETR, GPS, GOOG, JCG, LF, MA, MSFT, ORH, ORCL, PAS, PNWIF, PT, RIMM, JAVA, SYMC, UA, URBN Abercrombie &…
"Directors are not like some kind of 1950s housewife who was always the last to learn about the misadventures of her husband," said J. Richard Findlay, head of The Centre for Corporate…
Douglas A. McIntyre Fremont General (FMT) Mortgage company debt rating cut. Falls to $1.81 from 52-week high of $17.30. Valeant Pharmaceuticals (VRX) Drops on downgrade. Drops to $10.35 from $18.82. Nordstrom (JWN) Retailers keep hurting.…
According to Reuters, Chuck Prince stepped down at CEO of Citigroup (C) and the bank indicated it may have to write off as much as another $11 billion. Reuters writes that shares…
One thing must be said for Chuck Prince, who left Citigroup (C) todayafter four years. He could take a beating. From the moment the CEO’s chair was vacated by the ample frame…
Dear Board of Directors at Citigroup, 24/7 Wall St. has made no secret since early December 2006 that Chuck Prince needs to go. Mr. Prince is not incompetent and he is not…
Douglas A. McIntyre According to a report in The Wall Street Journal, Citigroup (C) CEO Charles Prince will offer his resignation at a board meeting on Sunday. There is speculation that the bank will have…
Douglas A. McIntyre 