Morgan Stanley's incoming CEO will be facing a drastically different landscape on Wall Street from when John Mack took over in 2005. James Gorman is poised to take over a bank that some say is still looking for direction after surviving a credit crisis that wiped out most of its competitors.
Stocks are poised for a slightly higher open, and are seeking to rise for the 6th straight day. The S&P is up nearly 5 percent over the past 5 days, and if it closes up today, it will have its best 6-day winning streak in about 6.5 years.
The change in the Morgan Stanley management will benefit the bank, but CEO John Mack should leave for good, Rochdale Securities Banking analyst Richard Bove told CNBC Friday.
Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by James Gorman, one of the investment bank's co-presidents, CNBC learned. Mack will remain chairman, however.
Uncertainty over guidance from Lehman Brothers casts a pall over the entire banking sector, including Merrill Lynch, Goldman Sachs — and Lehman itself.
In the after hours, traders were trying to get a handle on Morgan Stanley’s future after learning that CEO John Mack is stepping down.
If today's gains hold, we're looking at a 5-day advance in stocks. How should you trade?
Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday.
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
The surprise of the U.S. Open, 17-year-old Melanie Oudin, who is playing her quarterfinals match against Caroline Wozniacki tonight, has signed a new endorsement deal.
Stocks closed higher for a fourth straight day on Wednesday, sending the S&P 500 to its best finish so far this year.
China will continue to grow as the crisis has forced it to shift from an export-led economy to one which bases its development on domestic consumption, Jim O'Neill, head of global economic research at Goldman Sachs, told CNBC Wednesday.
This is the text of an article on Warren Buffett's response to the financial crisis, published in the New York Times on Tuesday, September 8, 2009.
Warren Buffett always says he loves to go to work each day, and the global financial crisis has done nothing to damper that enthusiasm for his job. Buffett tells the New York Times that all the "drama" has made for an "incredibly interesting period in the last year and a half."
Both the Dow and S&P 500 closed higher on Friday as investors focused on the bright side of a mixed payrolls report. So, what's in store for Tuesday?
The unemployment numbers were disappointing at face value, but overall, economic data has been consistently building a foundation for recovery, said Robert Keiser, Standard & Poor's senior director.
Both the Dow and S&P closed higher on Thursday ending a four-day losing streak after stronger-than-expected retail data boosted economic recovery hopes.
After propping up lenders with billions of taxpayer dollars, the Obama administration is contemplating long-term measures aimed at preventing, or at least minimizing, any future financial crisis.
The S&P 500 closed lower for the fourth day in a row after the latest economic reports suggested that the job market could trip up the recovery.
Investors struggled to make sense of the market Tuesday after stocks tumbled on heavy volume sending the S&P 500 below the psychologically important 1000 threshold.