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SAC said it may not be able to provider investors with frequent updates regarding the government insider-trading probe but there will be "more clarity" soon.
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Countrywide has been very smart about figuring out ways to make money from every part of the mortgage process. Here's an example pointed out to me. Countrywide reinsures some of its mortgages. When a homebuyer puts down only 10%, he or she usually has to buy mortgage insurance from a third party (I thought mortgage insurance was dead in the age of 80-20 loans, but apparently not).
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E-Trade Financial, the beleaguered online trader, is in talks to sell itself, according to people familiar with the situation. Bankers say that while there is plenty of interest, it is far from clear whether anything will get done.
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United Rentals said Monday that it had filed a lawsuit seeking to compel Cerberus Capital Management to complete its $4 billion buyout of the equipment rental company.
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Several financial institutions have been telling investors that subprime losses may not be as big as feared. Yet many wonder if it's all just wishful thinking.
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A New York appeals court has upheld the convictions of former Tyco International senior executives Dennis Kozlowski and Mark Swartz, the court clerk's office said Thursday.
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Help may be on the way for the financial sector, but in the meantime individual institutions are continuing to get hit with damage from the growing subprime mortgage crisis.
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A Citi analyst downgraded shares of E-Trade Financial on Monday after the online brokerage said late Friday that deterioration in the value of its holdings of securities backed by home mortgages has fallen significantly and will lead to bigger-than-expected write-downs in the fourth quarter.
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The chief of the nutritional supplement company confronts allegations about bad business practices and S.E.C. investigations in an exclusive interview.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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Merrill Lynch said its total exposure to risky debt is $27.2 billion, or about $6.3 billion more than what the company disclosed late last month.
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Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.
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Charles Prince resigned on Sunday as chairman and chief executive of Citigroup, and the bank said it may suffer an $11 billion write-down for subprime losses.
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Former American International Group chief executive and major stockholder Maurice "Hank" Greenberg said in a filing on Friday that he was considering "strategic alternatives" for the world's largest insurer.
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Former Countrywide Financial Vice President Quan Zhu agreed to pay $108,840 to settle insider trading charges, the U.S. Securities and Exchange Commission said on Monday.
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Two former officers at a company that supplies body armor to the U.S. Army face charges they inflated the company's stock price and made nearly $200 million in the process.
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A U.S. securities regulator Tuesday warned investors to be wary of scams touting huge potential profits from energy-related stocks, when the onlypeople likely to make money are those running the schemes.
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The Securities and Exchange Commission has opened an informal investigation into stock sales by Countrywide Financial’s founder and chief executive officer, Angelo Mozilo, the Wall Street Journal reported, citing people familiar with the matter.
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I don’t own any stock. That’s not by choice, but by CNBC edict. I just want that out there. Reporters are not allowed to own stock, unless it’s GE (parent company) in the 401K, because we report on companies constantly, and there cannot be any appearance of bias for gain, etc. We report on companies, we do not run them. That’s my preface to this post.
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On Tuesday, the U.S. Supreme Court is hearing an case that some say may alter the landscape of investing. The outcome potentially could strengthen shareholder confidence -- or stifle investment markets.
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On Oct. 9, the U.S. Supreme Court will hear a case that some say may open the flood gates to a tidal wave of investor lawsuits. Legal experts joined CNBC to debate both sides of the issue.
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US Airways Group said on Friday that it expects costs per available seat mile, or unit costs, to rise faster than earlier expected as its reins in capacity.