Citizens Financial said its initial public offering was priced at $21.50 per share, valuing the U.S. unit of Britain's RBS at about $12 billion.» Read More
Wall Street was poised for a big Friday at the end of a rollercoaster week after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials.
Remember, it's a quadruple witching expiration (expiration of stock and stock index options, and stock and stock index futures). The S&P 500 options stopped trading at the CLOSE last night, however the settle price is at the OPEN this morning.
We can fix this. If nothing else, that’s the message I hope readers take away from this column. Of course, the “this” is the run on the world banking system. Stock markets have plunged globally, gold prices have shot up, and U.S. Treasury-bill rates have plummeted to 10 basis points, the lowest since the 1950s.
What’s risky? What’s not? Carmen clears up the confusion so you can make the right decisions.
The plan to create a massive facility to buy mortgage-backed securities could cost as much as a half-trillion-dollars and would involve the purchase of both private-label and government-guaranteed mortgages.
A proposal to help financial institutions shed their bad debts sparked a big rally on Wall Street, but it was unclear whether the move was a turning point in the credit crisis.
Should hedge funds be required to report their short positions, daily?
Where there was dread, there's now a ray of hope: At least that's how some traders were talking at the end of the day Thursday, after the stock market rocketed 300 points in the final hour, the mirror opposite of Wednesday's frightening performance. Going into Friday, traders say there may be some positive follow-through, based on the course of news from Washington overnight.
(That's Balance Sheet, of course.) As Morgan Stanley, Genworth, State Street, WaMu and others are feeling the squeeze, I feel the need to dispel some myths that are crippling Wall St. and arguably the world.
Now everyone has a plan! We've gone from no ideas to plenty of ideas on how to deal with the current crisis. No less than TWO plans appear to be in the works, and there may be more:
Stocks whipsawed back into positive territory after regulators in the US and Europe took aim at short sellers and progress continued toward resurrecting the Resolution Trust Corporation to dispose of bad bank assets.
The Dow rallied 250 points shortly after 1 pm ET when the UK government announced they were banning short selling in financial stocks until January, and would require hedge funds to reveal their short positions.
Treasury Secretary Henry Paulson is working on a plan that would set up a government facility to take on bad debts from financial institutions, preventing a worsening of the global credit crisis, Wall Street sources have told CNBC.
If the usual suspects aren't responsible for hurting Goldman Sachs and Morgan Stanley, then who is?
As investors bail out of stocks and other types of "paper" assets, they're pouring into tangible investments—namely oil, gold and other metals.
Crises: Lehman, Merrill, AIG, Goldman Sachs and Morgan Stanley. What does it all add up to? Possibly the death of capitalism, says Paul Donovan, senior international economist at UBS.
The experts have their say on whether any investment banks can go it alone.
Wall Street has a had a wild ride this week, from the bankruptcy filing of Lehman Brothers Holdings to the government rescue of American International Group , investors have had plenty of news to digest.
Many investors are wondering what’s next for Goldman Sachs, a firm some on Wall Street consider to be in a league of its own...
Morgan Stanley -- one of the two last independent, U.S.-based investment banks -- is in advanced merger talks with Wachovia Bank, according to sources close to the company.