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The private-equity buyers of Acxiom have reached a settlement to break off their proposed $2.25 billion acquisition of the data-management company, according to people familiar with the situation.
You can hear the collective sigh of relief as Wall Street gets ready to slam the books on the third quarter today. It's hard to believe after all that rocking and rolling, but the Dow is up 3.8% for the quarter, as of yesterday's close. The S&P 500 is up 1.9% and the Nasdaq, high on a tech rally, is up 4%.
Investment bank Goldman Sachs has slashed its forecasts for economic growth in the United States, Japan and Europe, joining numerous forecasters who are abruptly changing view since the start of a global credit crunch.
Shares in British reinsurance broker Benfield jumped almost 13% on Friday after a report it had received a 700 million pound ($1.4 billion) bid approach from the private equity arm of Goldman Sachs.
Third-quarter corporate earnings are expected to show the weakest growth in five years, but a rebound is likely in the fourth quarter.
Britain's Northern Rock is poised to withhold its dividend payment, the BBC reported on Tuesday, signaling the stricken bank will backtrack in the face of a political backlash about the 60 million pound payment.
The value of European banks could tumble by as much as 20% in 2008, Pierre Yves Gauthier, head of strategy at Oddo Securities, told "Squawk Box Europe" Tuesday, as the subprime-related turmoil takes its toll on the sector's growth potential.
Credit market conditions tightened on Tuesday sending euro money market overnight rates to a three week high as worries about the economic cost of the credit crunch spooked lenders.
Harman International Industries, whose $8 billion sale fell apart last week, warned Monday that quarterly profit would be less than half what Wall Street expected, sending its shares down as much as 8 percent.
Hopes of an early resolution to world credit market problems were hit Monday as the IMF warned turmoil would continue and more banks detailed damage.
A viewer condemns Cramer’s calls on Goldman Sachs, Sears and projecting an overly positive image. How does Skee-daddy respond?Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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Two private equity firms have backed out of their $8 billion buyout of upscale audio equipment maker Harman International Industries, making it the latest in a string of such deals to run into trouble amid tightening global credit conditions.
Stocks rallied sharply during the week after the Federal Reserve surprised investors with a deeper-than-expected interest-rate cut.
European stocks closed broadly lower Thursday as profit-taking set in and the financial sector took another hit.
No economic data today but it is quadruple witching expiration, the quarterly S&P rebalancing, and we are approaching the end of the quarter. The good news: for all the worries, the S&P 500 is up 1.02% for the quarter (as of yesterday). The bad news: without the big gains in energy, the index would be down 0.05%. Energy is the biggest sector gainer, up 9.8%.
This week the investment bank blew away its quarterly numbers and got back on track toward Cramer's price target. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks closed lower as a better-than-expected earnings report from financial bellwether Goldman Sachs was offset by record-high crude prices and a plunging greenback. "When Bernanke cut rates people thought the glass was half-full now today it looks like it is half-empty," said Phil Roth, chief technical analyst with Miller Tabak.
Two Wall Street investment banks had markedly different success weathering summer market turbulence as results at Goldman Sachs easily exceeded expectations while those at Bear Stearns fell far short.