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Morgan Stanley

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  • BofA Will Take $3 Billion Debt Writedown Tuesday, 13 Nov 2007 | 2:33 PM ET
    A Bank of America branch.

    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.

  • Morgan Stanley Predicts Slower Growth in 2008 Tuesday, 13 Nov 2007 | 2:24 PM ET

    1st paragraph of story should go here

  • Wachovia, Capital One Say Credit Conditions Worsen Friday, 9 Nov 2007 | 9:45 AM ET
    A Wachovia branch bank.

    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.

  • The Bottom For Banks? Thursday, 8 Nov 2007 | 6:48 PM ET

    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?

  • Fed's Balancing Act On Rate Cut Getting Tougher Thursday, 8 Nov 2007 | 4:17 PM ET
    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.

  • Credit Crunch May Last Longer Than Thought Thursday, 8 Nov 2007 | 1:25 PM ET

    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.

  • Europe Stocks End at 6-Week Closing Low; Miners Jump Thursday, 8 Nov 2007 | 12:52 PM ET

    European equities lost ground on Thursday, ending at their lowest close in six weeks as persistent credit fears continued to pull banking stocks lower.

  • Seabreeze Partners' Kass: A Rally Is Coming Thursday, 8 Nov 2007 | 11:00 AM ET

    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.

  • Calmer Day on Wall Street ahead of Bernanke Thursday, 8 Nov 2007 | 8:18 AM ET

    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 Sees $2.5 Billion Earnings Hit Wednesday, 7 Nov 2007 | 8:06 PM ET
    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.

  • Morgan Stanley: $2.5 Billion Write-Down Wednesday, 7 Nov 2007 | 7:37 PM ET

    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.

  • Citigroup Troubles Worsen As Stock Gets Slammed Monday, 5 Nov 2007 | 2:44 PM ET

    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.

  • Prince Out At Citigroup; Writeoff Figures Climb Monday, 5 Nov 2007 | 8:55 AM ET
    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's Stock--And Image--Take a Big Hit Sunday, 4 Nov 2007 | 2:46 PM ET
    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.

  • U.S. Banks Face $10 Billion More Writedowns: Analyst Friday, 2 Nov 2007 | 11:22 AM ET

    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 Fight Consumer Confidence, "Lack" Of A Cut Tuesday, 30 Oct 2007 | 12:02 PM ET

    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.

  • Wall Street Now Faces Issue Of Trust Wednesday, 24 Oct 2007 | 1:57 PM ET

    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?

  • Merrill CEO: 'Mistakes' Led To Huge Write-Downs Wednesday, 24 Oct 2007 | 1:47 PM ET
    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 Down On Stake Sale Report Wednesday, 17 Oct 2007 | 12:51 PM ET

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

  • Morgan Stanley to Furlough 300 Wednesday, 17 Oct 2007 | 10:33 AM ET

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