There has been some misplaced optimism that financial stocks bottomed earlier this month based on the notion that much of the bad news about write-offs had come out. Mid-month, the Fed increased…
Unlike theology and philosophy, there are no great truths in business, only petit verities. One of these is that breaking contracts to keep from losing money is OK. The banks which were…
Douglas A. McIntyre In what is likely to be a bit of a blockbuster, SEC charman Christopher Cox sent a letter to Swiss regulators indicating the Bear Stearns (NYSE:BSC) did not have to go the…
Douglas A. McIntyre This is just becoming all too familiar in the financial stocks, and the bears are still in charge since we can’t hold a major up-day. Merrill Lynch & Co. (NYSE: MER) is…
Douglas A. McIntyre Morgan Stanley (MS) followed other Wall St. firms with poor results and the company said the future was doubtul. But, the numbers were good enough to keep the horses in the barn.…
Douglas A. McIntyre Shares in Goldman Sachs (NYSE GS): are only down about 12% over the last six months. That is about the same as the S&P. But, shares in peers Morgan Stanley (NYSE: MS)…
The Federal Reserve has just made an expansion of its securities lending program to add much more liquidity to the banking system, but the difference here is that this goes above and…
The first quarter should be another brutal right of passage for big investment banks. Citigroup is forecasting that they will have to write-down another $9 billion in Q1. According to Reuters the…
The Fed may need to get ready to put another $300 billion into the banking system, trading cash for paper that is clearly not worth a hundred cents on the dollar. According…
Douglas A. McIntyre Thornburg Mortgage (NYSE: TMA) Fear of Chapter 11. Falls to $1.26 from 52-wek high of $28.40. CIT Group (NYSE: CIT) Lehman Brothers cuts price target. Drops to $15 from 52-week high of…
Verizon (VZ) Bad news on broadband set-top delays and price cutting for cellular service. Falls to $35.37 from 52-week high of $46.24. Idearc (IAR) New CEO appointed after weak earnings. Not much…
Below are the top analyst calls that 247WallSt.com is looking at this morning: Capella Education (NASDAQ: CPLA) started as Neutral at JPMorgan. Cephalon (NASDAQ: CEPH) raised to Strong Buy at Broadpoint. Dynegy…
Bank of America has release a study showing the levels of LBO write-downs that large banks and brokerages may have to take. The figures are based on a "the current series of…
The mutual fund industry is particularly brutal because each fund is graded every day on performance. The cruelty of that system hit small finance house Morgan Keegan especially hard in the second…
Below are ten of the top analysts calls that247WallSt.com is looking at this morning: Audible (NASDAQ: ADBL) downgraded to Hold from Buy at Citigroup. Google (NASDAQ: GOOG) downgraded to Hold from Buy…