"Dilbert" creator Scott Adams visited this week, bringing custom characters for hosts Joe Kernen, Becky Quick and Andrew Ross Sorkin.» Read More
One of the biggest problems the Street has is that no one knows how to value assets that are plummeting: in particular mortgage backed securities and their derivatives, and (to a lesser extent) land in markets that are experiencing severe downturns.
Morgan Stanley may face a fiscal fourth-quarter write-down of as much as $5.7 billion for mortgage-related losses, CNBC has learned.
This week $13.5 billion flowed into the financials. Do these purchases of subprime distressed assets mark a bottom for bank stocks?
A $4 billion sale of loans being raised by automaker Chrysler following its takeover by buyout firm Cerberus has been indefinitely postponed, the Wall Street Journal reported.
Wells Fargo believes the nation's housing slump is the worst since the Great Depression and is far from over, Chief Executive John Stumpf said Thursday.
NovaStar Financial shares fell as much as 63 percent Thursday after the troubled subprime mortgage lender posted a $598 million third-quarter loss and said bankruptcy is possible.
Investment analysis firm MSCI, which is being spun off by Morgan Stanley, soared in its stock market debut on Thursday, a day after raising $252 million with an initial public offering that priced at the top of expectations.
United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.
Inflation and retail sales data, plus a speech from Fed Chairman Ben Bernanke are the big before-the-bell events that could sway market direction Wednesday.
Bank of America, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter, as fallout from the nation's housing slump deepens.
1st paragraph of story should go here
Wachovia said Friday it suffered a $1.1 billion loss on subprime mortgage-related debt in October, while Capital One Financial said more customers are having trouble paying their bills as the U.S. credit crisis deepened.
Bank stocks stopped the slaughter and mounted a dramatic rebound Thursday with Morgan Stanley rising and Citigroup paring its losses. Can these financial giants regain their footing or is there more carnage to come?
Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.
European equities lost ground on Thursday, ending at their lowest close in six weeks as persistent credit fears continued to pull banking stocks lower.
Perma bear Doug Kass of Seabreeze Partners just put out a note saying he sees a rally coming, albeit a brief one. "This is a tough call for me to make because I believe the world's economy and capital markets face significant challenges. But, increasingly, many of those concerns have been recognized and some of my shorts have reached my targeted price objectives.
Stocks are striking a much-improved tone after Wednesday's high energy selloff, as investors await testimony this morning from Fed Chairman Ben Bernanke. Monthly chain store sales and some big earnings could also influence direction.
Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.
Morgan Stanley on Wednesday said it expects fourth-quarter earnings to be reduced by about $2.5 billion from a write-down of its U.S. subprime exposure.