Shares of major financial firms from Goldman Sachs (GS) to Morgan Stanley (MS) are up 25% to 35% in the pre-market. Washington Mutual’s (WM) stock is up more than 40% and AIG’s…
Vikram Pandit’s job was to cut Citigroup (C) down to size. "Reverse the insanity of the empire builders who came before you", his investors said. Dump the damaged assets and maintain the…
According to Reuters, Morgan Stanley (MS) is in merger talks with several firms. Reuters says HSBC (HBC) may be a possible buyer for Morgan Stanley. Reuters reports that Washington Mutual (WM) is…
The latest rumor on Wall St. is that Washington Mutual (WM) will be auctioned off and has retained Goldman Sachs (GS) to handle the deal. According to The New York Times, Wells…
Bank regulators may be trying to find a home for Washington Mutual (WM). According to The New York Post, "The fate of Washington Mutual remained in question yesterday as federal regulators recently…
Douglas A. McIntyre Constellation Energy Group (CEG) falls on fears of link to the Lehman bankruptcy. The company says no. The shares plunges to $13 from 52-week high of $107.97. Gatehouse (GHS) shows why it’s…
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…
After a savage day in which one Wall St. firm closed and another was sold, perhaps there might have been an evening’s respite. Lehman (LEH) has more than 25,000 employees, 20,000 of…
At one point Merrill Lynch (MER) was up to $22.68 because of Bank of America’s (BAC) buyout offer of $50 billion. Merrill closed at $17.05 on Friday. Wall St. is now so…
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…
A bail-out of Washinton Mutual (WM) could cost tax-payers another $24 billion. According to Bloomberg, Richard Bove, an analyst at Ladenburg Thalmann & Co., said the federal government may have to provide…
Douglas A. McIntyre Several of the world’s largest banks on working on assembling a $50 billion fund to offer capital to weaker financial companies as firms like Lehman (LEH), Merrill Lynch (MER), and Washington Mutual…
Douglas A. McIntyre Convinced that a Lehman (LEH) Chapter 11 could cause huge losses for other large financial institutions, the weakest players have become desperate to find partners or buyers. According to The Wall Street…
AIG (AIG) as taken its turn in the penalty box today, joining Washington Mutual (WM), Lehman (LEH), and Merrill Lynch (MER). After after three quarters of significant write-offs, AIG is down 25%…
There are hundreds of thousands of jobs at stake if the current trends continue in the financial services sector. When you tally up the employment just at five troubled firms noted below,…