Citi argued it faces "a serious and imminent hazard" if it cannot process another interest payment by Argentina on $8.4 billion in bonds the country issued.» Read More
What’s in store for financials in ’08? Find out from a guy who has his ear to the ground and his nose to the Street!
Stocks had one of their worst opening days ever after getting slammed by $100 oil and bad news for manufacturing and the credit industry.
Citigroup layoffs are expected to begin next week, according to people familiar with the matter.
The stock market is off to a fitful start on this first trading day of 2008, not necessarily a good omen for the year if you believe soothsayers. ISM manufacturing data, released at 10 a.m., took an already waffling market lower.
Financial stocks have taken a beating -- but have they reached bottom? Jon Hilsenrath, money and investing news editor at The Wall Street Journal and a CNBC contributor, pointed to five bank stocks that savvy investors need to watch closely this year.
Understanding the performance of the stock market in 2007 comes down to one word: subprime.
Citigroup and Merrill Lynch were the world's top underwriters of stocks and bonds in 2007, measured by volume and reported fees, despite being at the epicenter of the global credit crisis.
The credit crunch and housing crisis led to some high-profile firings, most notably Merrill Lynch's Stan O'Neal and Citigroup's Chuck Prince. Still, while they lost their jobs, these executives didn't lose their shirts.
A contrarian investment strategy known as "Dogs of the Dow" has been a laggard this year, pulled down by Citigroup, one of the biggest casualties of the subprime credit meltdown.
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.