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Merrill Lynch's board of directors has alerted BlackRock chairman Larry Fink that he can take over as CEO if he so choses. Fink, according to sources close to the matter, has said he will take the next two weeks to decide.
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.
There's a flurry of selling going on this morning in shares of the biopharma Vertex Pharmaceuticals. Overnight the embargo lifted on the long awaited results of the company's mid-stage test on a new type of Hepatitis C drug. Two studies show that six months out 60% and 65% of patients had no detectable virus in their blood.
This morning we got more evidence about the havoc generic Zocor is wreaking on all of the companies that make brand-name statins--the pills to fight cholesterol. AstraZeneca is the latest casualty. On a down day in the markets AZN is one of the biggest losers in the sector.
As expected, Chrysler is wasting little time in downsizing both its work force and struggling line-up of vehicles. Today, the automaker announced it will cut another 8,500 to 10,000 jobs, including 1,000 white collar employees. This round of downsizing is on top of the 13,000 job cuts announced earlier this year as part of the plan to get Chrysler back in the black.
You gotta hand it to the folks over at Goldman Sachs, but particularly Brent Bracelin at Pacific Crest Securities who issued a note on Oct. 8, raising his estimates on Dell and singing the company's praises as it emerges from a financial purgatory gripping the company for more than a year.
The rapid fall of Stanley O'Neal from the helm of Merrill Lynch has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis.
Fashion parties are inherently uncomfortable, well-dressed and sometimes awkward events. They can also be a lot of fun for anyone who enjoys getting dressed up having cocktails and looking at beautiful objects/designs. When fashion intersects with retail (the business of selling these sometimes artistic/sometimes commercially minded clothing creations), my job occasionally involves attending some of these parties.
Shares of Merrill Lynch rose as investors bet the biggest U.S. brokerage wouldn't keep investors waiting too long before announcing a replacement for Stan O'Neal.
The anticipated departure of Merrill Lynch Chief Executive Stan O'Neal would mark a surprising flameout in a career that had been impressive in its ascent.
TheStreet.com's senior biotech writer Adam Feuerstein broke this story earlier today, but now we've confirmed it independently. The American Society of Clinical Oncology (ASCO) is changing its ways.
BlackRock Chief Executive Laurence Fink has long been on Wall Street's short lists to run any one of America's top investment houses. Now he may get a chance to prove that he can do the job.
Northwest Airlines on Monday said it swung to a profit in the third quarter as it kept fuel and other costs under control and moved on from its bankruptcy restructuring.
Chiquita Brands International said Monday it will cut 160 management jobs worldwide, close facilities and leave businesses as part of a plan to save $60 million to $80 million a year beginning next year.
Ahead of the Fed, stocks are holding onto higher ground as oil breaks another record and the dollar flounders. But the high interest story on Wall Street is the behind-the-scenes intrigue at Merrill Lynch as its board struggles to orchestrate the departure and replacement of Merrill Lynch CEO Stan O'Neal.
Not long after the Merrill Lynch board of directors agreed to oust Stan O'Neal as the company's chief executive, the same board offered to allow O'Neal to remain in the post on an interim basis, according to a person briefed on the matter.
E. Stanley O’Neal has been ousted as chairman and chief executive officer of Merrill Lynch that much is certain as the board of directors of the nation’s largest brokerage firm gets ready to prepare an official announcement.
If Merrill Lynch Chief Executive Stan O'Neal is forced out, there's little doubt who the firm's army of more than 16,000 brokers would like to see replace him: their own boss.
Time Warner shares rose nearly 4 percent on a report that Chief Executive Richard Parsons plans to announce his exit as early as next week.
“Power Lunch” is at the Mall of America outside Minneapolis/St. Paul, to look at alternative energy and consumer activity -- and a surprise definition for "retail stocks." Here's what some of the guests on the program are saying.