The financial crisis has ravaged many a Wall Street giant, but it has also produced a handful of winners. BlackRock, a money manager that is much admired but little known outside financial circles, is fast emerging as one of the nation’s financial powerhouses, the New York Times reports.
The author brings readers inside the boardroom where you can actually feel the tension as key executives were being flooded by frantic BlackBerry messages about major hedge fund customers pulling billions of dollars from their accounts.
The crisis that hit last month at the Reserve Fund, the nation’s oldest money market fund, has frozen hundreds of thousands of customer accounts for more than six weeks — with no sure end in sight, says the New York Times.
Find out why the bottom in banks might have occurred in July!
Following are the day’s biggest winners and losers. Find out why shares of Medtronic and Reliance Steel popped while Las Vegas Sands and Starbucks dropped.
Money manager Federated Investors said it is buying prominent fund manager David Tice's Prudent Bear Funds, which specialize in making money on falling stocks.
Oil dominated the news again during the week, though crude prices fell back for a change. Economic data also moved the markets, which finished up for the week.
Conventional Wall Street wisdom says, "Sell in May, and go away." Manny Weintraub says that's not wise this year.
Is it time to jump back into beaten-down financial stocks--or is it still too early? Even the financial giants themselves can't agree.
Goldman Sachs said Tuesday it selectively upgraded shares of some brokers and asset managers, but remains cautious on stocks of regional banks, mortgage and specialty finance companies and real estate investment trusts.
Private equity is all the rage -- and while financial services companies typically have been shielded from such deals, that is beginning to change. KBW, a boutique investment bank specializing in financial services companies, recently penned a report that revealed possible private equity targets.