The New York Times is reporting that Morgan Stanley (MS) has been approached by Wachovia (WB) about a buyout. According to the paper, the broker is also considering other options. Douglas A.…
Morgan Stanley (MS) tumbles on fears it will be the next victim of credit crisis. Shares falls to $16.08 from a 52-week high of $69.87. Goldman Sachs (GS) Even the premier US…
According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays…
By all accounts, Morgan Stanley (MS) was supposed to have a mediocre quarter. Wall St. was concerned it could be worse than that. Enough of the large financial companies had been damaged…
According to Reuters, the markets will now turn their attention to AIG (AIG) which is struggling to survive. Reuters report that the Fed will probably hold interest rates steady and signal a…
This week seems to be unprecedented for the financial powerhouses and bulge bracket brokerage firms. While Merrill Lynch had to throw in the towel and become a Bank of America subsidiary, Lehman…
AIG (AIG) plans to sell its auto insurance unit, annuity operations, and aircraft leasing division. It sounds a lot like Lehman’s (LEH) plan to spin-off its commercial real estate pool and sell…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip…
According to Reuters, Lehman (LEH) will seek Chapter 11 protection. Reuters reports that Bank of America (BAC) will buy Merrill Lynch (MER) for $50 billion. Reuters reports that AIG (AIG) is facing…
We few, we happy few, we band of brothers; For he to-day that sheds his blood with me Shall be my brother; be he ne’er so vile… Saint…
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…
Douglas A. McIntyre 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…
According to Reuters, oil fell another $1 to $109. Reuters writes that Coca-Cola (KO) will pay $2.5 billion for Chinese juice maker Huiyuan, Reuters writes that Google (GOOG) believes the its new…
Lehman (LEH) will lay off about 6% of its work force according to The New York Times. That is about 1,500 people, but it is not nearly enough. Earlier in the day…
The AP announced its list of the top 10 paid CEOs for 2007. The figures were based on "AP’s compensation formula, which adds up salary, perks, bonuses, above-market interest on pay set…
