Just think about it. Stocks with multi-billion market caps down 40% this year. Merrill (MER) and Bear Stearns (BSC) are down about that much. Lehman (LEH) is down 20% and Morgan Stanley…
According to Reuters, some auto industry experts think car sales could hit a 15-year low in 2008. Reuters reports that the OPEC summit ended with members disagreeing about what to do about…
Losses related to record U.S. home foreclosures using a “back-of-the-envelope” calculation may be as high as $400 billion for financial companies, Jan Hatzius, chief economist at Goldman (GS) in New York wrote…
The New York Post has reported that NYSE (NYSE:NYX) CEO John Thain will be made the new head of Merrill Lynch (NYSE:MER). The announcement is expeted after the close. This also follows…
Newspaper chain Gatehouse (GHS) has been down as much as 15% today on poor earnings and a downgrade from "buy" to "neutral" at Goldman Sachs (GS). And, this may just be the…
Goldman Sachs (GS) is trading up 6% on word from its CEO that the firm "does not expect to take any significant asset write-downs," according to Reuters. There have been rumors that…
The CEO of Virtual Iron, Ed Walsh, spoke exclusively to 24/7 Wall St. partners in two separate interviews. Virtual Iron is the virtualization company owned in part and backed by Goldman Sachs…
Analysts are beginning to talk about how large the write-downs may be at financial institutions when earnings are reported for the next quarter. "Everybody will have write-downs in the fourth quarter," Charles…
Douglas A. McIntyre 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…
Wednesday is much more than Halloween and it is more than the FOMC announcement date. We have an event that has been perhaps more influential to many key stocks than the upcoming…
Sirius (SIR) has gone from being a market darling to one of the most maligned companies among those that the press follows with any regularity. The conventional wisdom is that the firm…
Several banks with troubled fixed income and mortgage securities are making the rounds to raise $80 billion to $100 billion to build a fund to buy some of this distressed debt. Citicorp…
Chinese officials confirmed and several media outlets reported that China’s Citic Bank would like to buy a piece of Bear Stearns (BSC). Members of Congress will likely mount their soap boxes and…
According to Reuters, several retailers cut holiday forecasts and the economy slows. Reuters writes that Chrysler has reached an accord with the UAW. Reuters reports that Boeing (BA) has delayed delivery of…
There was some hope that as mortgage problems and hedge fund headaches took down shares and earnings of investment banks like Lehman (LEH) and Morgan Stanley (MS) that global M&A fees would…