Stocks were down sharply Friday after a reading on Midwest manufacturing came in at its lowest level in more than six years and a survey showed consumer confidence at its lowest level in 16 years.
Punk Ziegel lowered its earnings estimates for the first quarter and full year on several financial institutions in the US including Goldman Sachs, Merrill Lynch and Citigroup, to reflect higher loan losses underpinned by the weaker economy.
Only 39 percent of big investors think the way U.S. companies reward top executives has helped improve corporate performance, and most believe that top managers have too much influence in setting their own pay, a new study has found.
Stocks jumped after Federal Reserve Chairman Ben Bernanke's testimony on Capitol Hill Wednesday.
Stocks finished mostly flat Wednesday as investors juggled encouraging news on the regulation of mortage lenders with another round of bleak news on housing and the economy.
Stocks fell back after rallying on renewed optimism about the struggling housing market.
As the housing crisis deepens, major lenders say they will help borrowers avoid foreclosure, but nonprofit groups and others say their actions are not living up to their promises.
As subprime securities find a price, banks could discover they lost less than they thought. Which bank will be the first to say they overstated their subprime writedown?
Banks working to bail out Ambac include private equity and other financial firms that have no exposure to the troubled bond insurer, signaling optimism that Ambac will make money in the future.
Bond insurer Ambac saw its triple A rating reaffirmed by S&P Monday but could still be downgraded if details of a proposed rescue plan aren't approved by ratings agencies.
Banks begin reporting earnings March 10th. Will they issue warnings of further write-downs this week ahead of earnings? Also, your retail trades and options action in Cogent.
Standard & Poor's reaffirmed the Triple A rating on the two biggest bond insurers, MBIA and Ambac Financial Group, sparking a rally by both stocks and the market in general.
Stocks closed sharply higher after Standard & Poor's reaffirmed the triple A ratings on two big bond insurers, sparking an explosive rally.
Gold lost some of its luster today after U.S. Treasury Under Secretary David McCormick gave support to the idea of International Monetary Fund gold sales. Earlier today, the Treasury, in a turnaround, said it would support gold sales from the IMF's reserves if they are part of a package reforming the way the organization operates.
More trouble from the financial sector threatened yet again to thwart a mild rally on Wall Street.
Stocks moved into positive territory despite more signs of weakness in the housing market, as Genentech led pharmaceuticals higher.
Dresdner Bank, part of the Allianz insurance group, intends to support a rescue package for U.S. bond insurer Ambac Financial Group with a sum in the low double-digit millions of euros, the head of Dresdner's investment banking operations said on Monday.
An official deal on a recapitalization plan for troubled bond insurer Ambac that could save its triple-A rating is near, as banks worked over the weekend to forge it.
As of Friday, 441 (just under 90%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
Qatar's prime minister, who heads the country's $60 billion sovereign wealth fund, said he favors investing in European over U.S. lenders because U.S. bank stocks are likely to fall further.