Stocks are at new highs, but where are the bargains? Big financials are mounting an impressive rally.» Read More
A former Morgan Stanley lawyer and her attorney husband who participated in an insider trading ring on Wall Street were each sentenced to six months of home confinement on Thursday.
Bear Stearns is seeing money return to the financial markets as fear created by this summer's credit crunch begins to ease, the firm's president said Thursday.
Goldman Sachs Group, which recently said it saw opportunities in the beaten-down mortgage industry, is in talks to buy the subprime servicing business of Credit-Based Asset Servicing and Securitization, people familiar with the situation said.
The European Commission fined Visa 10.2 million euros ($14.45 million) on Wednesday for refusing to let Morgan Stanley join its payment card system in Britain.
Credit Suisse Group will cut 170 jobs in its investment banking division, or nearly 1% of the unit's employees. This comes after Morgan Stanley said it would restructure its residential mortgage business and cut about 600 employees .
Stocks closed mixed as weak housing data was offset by better-than-expected auto sales from GM and sustained expectations for additional rate cuts by the Federal Reserve. "I think with liquidity back in the market you'll still see volatility but you're more likely to see more up days and fewer down days," said David King of Putnam Investments.
Morgan Stanley said Tuesday it will restructure its residential mortgage business and cut about 600 employees in a move that "reflects current market conditions."
Morgan Stanley will pay $9.5 million into a fund for several thousand arbitration claimants, and was fined $3 million by the Financial Industry Regulatory Authority, the brokerage industry regulator said on Thursday.
The Carlyle Group hopes to seal its first property deal in India this year and is buying homes for the elderly in Japan, as the private equity firm's real estate arm looks to make inroads in Asia.
Merrill Lynch's subprime mortgage unit, First Franklin Financial, could cut about $100 million from the brokerage's third-quarter profit on an impairment charge, a Wall Street analyst said Tuesday.
Discover Financial Services, a credit card company spun off from Morgan Stanley at the end of June, said Tuesday that third-quarter profit fell, as expenses rose and outstanding loan growth was tepid.
Goldman Sachs Group said Thursday that quarterly profit surged 79 percent, blowing away expectations of weak results, as the investment bank generated its second-highest revenue ever despite turbulent summer markets.
As suspected FedEx beat estimates for their first quarter but lowered full year guidance. Recall that they introduced fiscal 2008 guidance last quarter of $7.00-$7.40, but today lowered it to $6.70-$7.10. CEO Frederick Smith said that the global economy was solid "outside the U.S." but that "financial market volatility and high energy costs" increased uncertainty around the economic outlook.
Chatter on the street is that Goldman Sachs can't help but beat Wall Street's estimates when it reports earnings tomorrow. For that reason, it's one of the few in the brokerage group still holding onto gains at the close. Goldman stock closed up 2.5%. Bear Stearns, also reporting tomorrow, fell 3%. Morgan Stanley was down 2% after a disappointing report this morning, and Lehman was down a half a percent. Merrill Lynch though was 1% higher.
Morgan Stanley said on Wednesday its third-quarter earnings fell as the broad selloff in mortgage and corporate loan markets this summer delivered a $940 million blow to the broker.
A relatively tame inflation number and no mean surprises in Lehman Brothers earnings this morning is giving support to stocks ahead of the Fed's momentous decision today. Traders are also watching oil prices crack yet another record level.
Trading should stay tentative ahead of the Fed's Tuesday afternoon announcement. But before that news, Wall Street will have to navigate the first big earnings from the brokerage industry and some important economic data, including inflation measure, producer prices.
A slew of big brokerage houses report earnings next week with Lehman Brothers leading the pack Tuesday morning. One research firm has put out an interesting method of trading the financials – one with high risk, but high potential returns.
Cramer said there are three possible outcomes. These are his strategies for playing each one.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.