In the current age of financial pessimism, Morgan Stanley (MS) does not want to be bested. In a show of unusual courage, its president is predicting that the world of Wall St.…
Douglas A. McIntyre According to Reuters, analysts expect Lehman (LEH) to have a $1.8 billion loss. Reuters writes that the US is likely to recapitalize Fannie Mae (FNM) and Freddie Mac (FRE). Reuters reports that…
According to Reuters, Ford (F) will build a news luxury crossover vehicle. Reuters writes that Merrill Lynch (MER) will freeze all hiring through the end of the year. Reuters reports that the…
These are some of the top analyst downgrades or negative calls we are seeing this morning, and you’ll notice that brokerage firm stocks are again the targets of many downgrades: Citigroup (C)…
According to Reuters, Greenspan says the housing market should bottom in 2009. Reuters writes that US auto makers are scrambling to make more fuel-efficient cars. Reuters reports that the SEC is close…
According to Reuters, JP Morgan (JPM) lost $1.5 billion in July. Reuters writes the UBS (UBS) posted a huge loss and will split itself into a wealth management operation and an investmen…
Morgan Stanley (MS) thought it could pull a "monkey see, monkey do" act with NY State Attorney General Andrew Cuomo. The investment house offered to buy back $4.5 billion in auction-rate securities…
NY Attorney General Andrew Cuomo wants blood from the banks that marketed auction-rate securities but have not made settlements with him. In his mind, Wachovia (WB), Morgan Stanley (MS), and JP Morgan…
There has been a great deal of talk about how the New York State Attorney General and the SEC has done companies and individual investors a service by getting Merrill Lynch (MER),…
The Fed has been testing investment banks to see what will become of their balance sheets and liquidity if the credit markets signal another hurricane watch. According to the FT, "Bankers with…
Douglas A. McIntyre Now that Citigroup (C), UBS (UBS), and Merrill Lynch (MER) have agreed to buy back a total of about $40 billion in auction-rate securities, Wall St. will have to hazard a guess…
Morgan Stanley (MS) has gone to some of its private clients and told them they cannot borrow more on their home equity lines of credit. The customers thought they had signed up…
Douglas A. McIntyre According to Reuters, a new tally of votes for the Yahoo! (YHOO) board election shows a high percentage of protest votes. Reuters reports that the Fed held rates steady and indicated it…
According to Reuters, T Boone Pickens is seeking an "army" of business leaders and citizens to back alternative energy. Reuters reports that Starbucks (SBUX) posted if first loss as a public company…
In an ironic bit of sloganeering, the current Merrill Lynch (MER) corporate promotion is "Even In Today’s Economy, There Are Smart Places For Your Money." It may not be lost on the…
