Goldman Sachs has laid the groundwork to launch actively managed exchange-traded funds, the latest Wall Street bank to set its sights on the market.» Read More
Troubled insurance giant American International Group has hired JP Morgan Chase to advise on raising new capital or come up with some kind of deal that infuses the company with enough money to prevent a possible dowgrade, CNBC has learned..
BlackRock is trying to raise some $3 billion to create a second fund that will buy distressed debt that banks are trying to unload because of the credit crisis, a person with knowledge of the deal said on Wednesday.
Lehman Brothers Holdings Chief Executive Dick Fuld is running out of time not only to keep his job as CEO but have the Wall Street firm remain independent.
Negativity about the stock market is rampant, and to BlackRock Vice Chairman Bob Doll, that is a healthy sign. Doll is BlackRock's chief investment officer for global equities, and he visits plenty of financial advisers. "The mood is very thick," he said. "To the contrarian, it feels good."
Lehman Brothers Holdings Chief Executive Dick Fuld continues to work feverishly on possible transactions that will help the investment bank drum up much-needed capital and offset possibly billions in further writedowns, according to people with knowledge of the matter.
Stocks rallied Friday as a more than $4 a barrel drop in oil prices offset the drag of Fannie Mae's earnings miss. It's going to be the same story next week: Energy prices. Even if there are disappointments in CPI or Wal-Mart's earnings, investors are expected to overlook them as the drop in gas prices puts more money in consumers' pockets.
Stocks rallied Friday as a more than $4 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
Stocks rallied Friday as a more than $3 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
Stocks ticked higher Friday as a more than $2 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
The allure of distressed debt has grown so strong that Wall Street's biggest money managers are picking over their carcasses, suggesting the worst of the credit crisis may be over.
Massachusetts' $50.6 billion pension fund on Wednesday fired a Legg Mason unit run by fund manager Bill Miller and four other fund firms from managing a $1.8 billion U.S. stocks portfolio due to poor performance.
Officials at Lehman Brothers have held conversations about the possible sale of the firm's entire investment-management division, according to a people with knowledge of the matter.
Lehman Brothers Holdings is expected to follow in Merrill Lynch's footsteps and sell a lot of risky assets at a loss. But shedding the assets may create another headache for Lehman -- the need to raise large amounts of new capital, including common equity.
Troubled investment bank Lehman Brothers is in talks to sell its CDOs and mortgage related assets to money management powerhouse Blackrock, CNBC has learned.
Bob Doll, CIO of global equities at BlackRock, told CNBC which stocks his firm is buying. Surprise! There're a few financials in the mix.
One year into the credit crisis that led to the near-collapse of Bear Stearns, some big U.S. investment banks are down, but probably won't get taken out right now.
Following are the day’s biggest winners and losers. Find out why shares of Harley-Davidson and Capital One popped while eBay and Yum! dropped.
Merrill Lynch came close to selling its 49 percent stake in BlackRock, but pulled the plug at the last minute because of concerns from rating agencies.
Stocks resumed their ascent after a midmorning dip as oil began to recede and financials rallied.
Merrill Lynch posted a $4.9 billion second-quarter loss because of writedowns but said it is close to selling $8 billion of assets in a bid to raise fresh capital.