Stocks Morgan Stanley

More

  • Federal Reserve Chairman Ben Bernanke.

    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

    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.

  • graphic_fast_money.jpg

    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.

  • citi_ext2_OQ.jpg

    Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.

  • Chuck Prince

    Charles Prince resigned on Sunday as chairman and chief executive of Citigroup, and the bank said it may suffer an $11 billion write-down for subprime losses.

  • Merrill Lynch

    Merrill Lynch's credibility and stock took a big hit Friday on reports that the biggest brokerage firm sought to delay billions of dollars of losses on troubled assets by moving them to hedge funds.

  • citi_ext2_OQ.jpg

    Large U.S. banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue, a Deutsche Bank analyst said.

  • Markets dealing with several issues this morning. 1) The S&P/Case Shiller Home Price Index August fell 4.4% year over year. This is the biggest decline since the series began 6 years ago. The index is a composite that tracks twenty U.S. cities.

  • The "kitchen sink" theory is out the window. There's a trust problem developing on the Street. Remember a few weeks ago traders drove up the stocks of companies like Citigroup, even though they did take very large losses for subprime and CDOs?

  • Stanley O'Neal

    Merrill Lynch Chairman and CEO Stan O'Neal told shareholders that  "mistakes" in  subprime lending exposure  led to $7.9 billion in write-downs for the third quarter.

  • New York Times shares fell about 3 percent on a CNBC report that Morgan Stanley may be selling 10 million shares of the company.

  • Financial services giant Morgan Stanley  is laying off 300 workers in the wake of difficulties from the recent market turmoil.

  • Morgan Stanley Chief Executive John Mack told CNBC that he does not expect the investment bank to take further write-downs on assets beyond what was announced last month.

  • A group of nine Wall Street banks has agreed to pay $280 million for a minority stake in Thomson's TradeWeb, an online market for bond trading, the Wall Street Journal reported on Thursday, citing sources.

  • A Bank of America branch.

    JPMorgan Chase and Bank of America are expected to disclose losses of about $3 billion in mortgage securities and leveraged loans when they report earnings this month, the Financial Times reported, citing an analyst.

  • 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.