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Stocks finished little-changed after another up-and-down session.
Berkshire snaps up the Dutch bank's reinsurance company, NRG, for $435.2 million, while Citi and HSBC are reportedly also interested in shedding parts of their businesses.
Sallie Mae, the largest U.S. educational lending company, said it sold $1 billion of convertible securities and $2 billion of common stock, raising more money than it had expected to pay off bad derivatives bets.
Like precision radar, The Fast Money Five zero in on three hot trades. Find out how they're playing excessive write-downs, a highly anticipated decision from the FDA and avoiding a visit from the tax man!
The major indexes lost well over 1% and the Dow Jones industrial average fell more than 190 points. What's the word on the Street?
A weakness in durable goods orders at home and terrorism abroad thwarted an end-of-year rally in US markets, which finished lower.
U.S. government bond prices extended gains on Thursday after a weaker-than-expected eading on November durable goods orders and a jump in new jobless claims.
S&P futures dropped 5 points on the reported death of Benazir Bhutto after a suicide bombing at a rally in Pakistan, then an additional 2 points as the durable goods report was below expectations. But according to MasterCard SpendingPulse, total U.S. retail sales, excluding automobile sales, rose 3.6% for the holiday season so far.
Citigroup may need to slash its dividend 40 percent to preserve capital, and with Merrill Lynch and JPMorgan Chase may write off $33.6 billion of debt this quarter as the global credit crunch deepens, a Goldman Sachs analyst said.
Time to sort through the Fast Money in-box and answer more of your questions. Gary writes, “What do you think the 6 month to 1 year outlook is for Circuit City (CC). I’m looking for a trade with CC but I’m not a real long-term fan of the company.
U.S. stocks managed a largely flat close Wednesday -- despite disappointing holiday retail news -- as the battered financial sector and energy companies gave a boost to the broader market.
Merrill Lynch shored up its capital base by as much as $7.5 billion after selling a stake to Singapore's government and an asset manager, and unloading much of a lending business, as it wrestles with huge subprime mortgage losses.
Christmas Eve brought glad tidings to Wall Street, with holiday cheer emanating from the battered financial sector and spreading through the market.
Merrill Lynch said it plans to sell most of its Chicago-based capital lending business to General Electric and will boost its capital by raising up to $6.2 billion in a private placement.
Saudi Arabia plans to establish a sovereign wealth fund that may exceed $900 billion, which would likely be the largest in the world, the Financial Times reported on its Web site without naming sources.
Bad home loans sparked a bear market in bank stocks this year. How will the credit crisis evolve in ’08?
A last minute buying spree on Wall Street could give the stock market a surprise bounce before the end of the year. "I think we're in for a real ramp up," says Jim Cramer.
Major banks have abandoned plans to set up a bailout fund for subprime-related debt, mainly because not enough banks were willing to participate.
Merrill Lynch is the topic today: As Morgan Stanley and Bear Stearns have both taken substantial writedowns on their mortgage-related portfolios, there is speculation that Merrill will also be taking writedowns when they report in January.
With losses mounting, Merrill Lynch, the nation's largest brokerage firm, is turning to Asia for financial help.