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On Monday, for example, mutual fund investors panicked and pulled $10.9 billion out of the market (TrimTabs), with particularly large outflows ($4 b) from global funds.
Morgan Stanley is trading down 16 percent, despite several positive analyst comments on their earnings, as traders note that credit spreads are widening. The Reserve's Primary Fund, a money market fund, "broke the buck" (the net asset value of the fund fell below $1) because it owned Lehman paper.
The unprecedented government rescue of insurance giant AIG calms the market's angst, but the question is whether credit markets will cooperate with the Fed and what other shoes are there left to drop.
Morgan Stanley announced quarterly results earlier than expected, and Sandisk rejected a buyout offer from Samsung. Here's how to trade the news.
Maria Bartiromo discusses Tuesday's top business and financial stories -- and looks ahead to tomorrow's events.
Morgan Stanley, announcing quarterly results earlier than expected, reported a profit that declined slightly but blew past analysts' earnings expectations.
Morgan Stanley trading up 3 percent after the close, as it pre-announced earnings above expectations. CEO John Mack said, "We have continued to actively reduce our legacy postions and carefully manage our risk, capital and liquidity." Several factors worked in favor of today's modest but important rally.
Stocks rallied at the close after the Federal Reserve held the line on interest rates and investors were encouraged that Lehman Brothers and American International Group might work out deals to improve their perilous financial situation.
If this company goes under, Cramer says, the market will freeze.
There was booing on the floor as the Fed announced they would leave rates unchanged. But others applauded, noting that lower Fed funds rates will not accomplish notably lower consumer rates, particularly mortgage rates...
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.
In general, the markets are having a tough time moving forward (ex-financials) because earnings for the major sectors keep getting hit, for various reasons. Consider: 1) financials: event risk has taken down ests. on all the big names.
Lehman falls, Merrill is sold, and more fallout is likely ahead. Wall Street has likely changed forever, says the New York Times.
U.S. stock index futures dropped as fears mounted over the capital position of American International Group.
The Consumer Price Index had its first drop in nearly two years. Here is a breakdown of the inflation benchmark to show you where costs are rising most.
There is a certain air of disbelief on the Street today concerning AIG. Bank of America's analyst epitomized this: "AIG is facing a near-term liquidity issues, as opposed to solvency issues," a report this morning said. All insisted they have plenty of assets to sell.
The options market is signaling that the stock market is in for more volatility ahead, according to an options expert.
The already roiled markets have a new fear: the survival of AIG.
Which stocks were unfairly punished during Monday’s monster sell-off?
Wall Street had its worst day in more than six years on Monday as fears about the U.S. financial system's stability escalated after Lehman Brothers filed for bankruptcy.