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If no private equity bridge loan: 20 percent chance that a sov. wealth fund or private equity would offer a high interest rate loan with an option to buy the entire company at a price above the present market value.
U.S. stock index futures dropped as fears mounted over the capital position of American International Group.
The Dow and S&P 500 fell over 4.5% today, while the Nasdaq composite dropped 3.6%, as concerns over the health of the financial sector intensified following the decision of Lehman Brothers to file for Chapter 11.
We almost certainly would have broken through the important 1,200 level on the S&P 500 had there not been a report that the feds have asked Goldman and JP Morgan to lead a $70 to $75 lending facility for AIG; this took AIG and the markets off their lows just after 3:30 ET.
"What we have right now is maybe a purging," Vince Farrell, chief investment officer at Soleil Securities, said on CNBC. "At the end of the day there's going to be some opportunities."
Increasing optimism about loans to the U.S. auto industry helped drive major indexes out of negative territory. General Motors was the top gainer on the Dow Jones Industrial Average and S&P 500, while Ford was among the top gainers on the Nasdaq.
Bring back the uptick rule. This is Number One on many traders' wish list. Last July the rule that prevented traders from shorting on a downtick was eliminated.
CNBC's parent company, NBC has already sold about 75 percent of the big event's commercial time, whereas in past years only 50 or 60 percent would be sold by now. These faster sales are particularly impressive considering the fact that prices are up some 10 percent this year to as much as $3 million for just a 30 second spot.
Stocks swung between positive and negative territory as investors grappled for a direction with oil flirting with $100 a barrel and the market abuzz with speculation that a resolution for Lehman Brothers could happen within days.
Stocks swung between positive and negative territory as investors grappled for a direction with oil bouncing higher after its brush with $100 a barrel and the market abuzz with speculation that a resolution for Lehman Brothers could happen within days.
The developments at Lehman Brothers are making the options market swirl in general, according to Rebecca Darst of Interactive Brokers.
We now have video evidence that Warren Buffett's pitch to catcher Jack Welch at Boston's Fenway Park last night wasn't quite a "perfect strike." We also, however, can go to the videotape to prove that Buffett throws better than Mariah Carey.
It's a big day for CNBC's parent company, NBC Universal, aiming to move the company's TV distribution strategy to the next generation.
Warren Buffett and his good friend Jack Welch (the former General Electric Chairman) took the field at Boston's Fenway Park Tuesday night for the ceremonial first pitch before the Red Sox and Tampa Bay Rays continued their pennant fight. Here are some behind-the-scenes photos taken by CNBC Producer Tom Rotunno as Buffett toured the historic ballpark and warmed up with Welch for their debut. Also included: official Red Sox photos of Buffett on the mound.
When Warren Buffett first revealed to us that he would be throwing out the ceremonial first pitch at tonight's Red Sox game in Boston, he seemed to be hedging his bets. He told CNBC's Becky Quick he would be prepared to throw any pitch catcher Jack Welch called for, even the tricky "ball that bounces four or five times before it gets to the plate." Buffett had nothing to worry about.
Apple Inc. Chief Executive Steve Jobs poked fun at reports of his poor health on Tuesday as he introduced new iPod nano and Touch music players.
Investors are snapping up mortgage-backed securities, corporate bonds and Treasuries , which are offering better yields than stocks.
Warren Buffett has thrown out the ceremonial first pitch at baseball games before, but he's never had a business all-star as a catcher. Tonight (Tuesday), Buffett is scheduled to take the mound at Boston's Fenway Park just before the Red Sox play the Tampa Bay Rays. His catcher: Jack Welch, the legendary former Chairman of General Electric, and a devoted Red Sox fan.
A little more than 24 hours after announcing its big, lucrative Alzheimer's drug partnership with Pfizer, Medivation had the lead-off position (I wonder if they told organizers they'd be a newsmaker) at today's BioCentury/Thomson Reuters biotech investment conference in New York City.
Stocks may have had a tough summer, but Wall Street is gearing up for an even rougher fall.