Goldman Sachs has been questioned by chiefs of rivals Bear Stearns and Lehman Brothers about speculation that the securities firm had a role in putting pressure on their firms' stocks, the Wall Street Journal said on Wednesday citing people familiar with their talk.
U.S. securities regulators issued an emergency rule Tuesday to limit certain types of short selling in major financial firms, including Fannie Mae and Freddie Mac.
The Dow closed below 11,000 for the first time in two years on Tuesday. What's the "Word on the Street?"
America lost an important civil servant -- a hero of the masses -- when Bob Steele gave up his post of Treasury Undersecretary to take over the reins of the troubled Wachovia Bank spacer. Cramer worked with him at Goldman Sachs spacer and praises him simply a "brilliant man," not a compliment Cramer gives often -- with the exception of certain dead classical composers. Steele is a "visionary and a hard worker," someone who "gets" that the banking system is in dire straits.
Viewers ask Cramer the essential question: Am I diversified?
Wachovia Corp, the fourth-largest U.S. bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, and said mortgage and legal problems will result in a $2.6 billion to $2.8 billion second- quarter loss, much larger than many analysts expected.
Stocks ended a tumultuous session with a late selloff that left all three major indexes in bear-market territory. Financials fell sharply amid worries about more shoes to drop and techs took a hit after Cisco's chief said customers don't see a recovery until next year.
Stocks declined, following a two-day rally, as a report showed crude inventories shrunk last week. Oil climbed in a choppy session after falling more than $9 abarrel in the past two sessions.
Stocks declined, following a two-day rally, as a report showed crude inventories shrunk last week. Oil rebounded $1 to $2 a barrel after shedding more than $9 in the prior two sessions.
Goldman Sachs said the European banks sector needs to raise about 60 billion to 90 billion euros, or withhold one year of dividends, to reach an aggregate Tier I ratio of 9 percent -- a level achieved by European banks that have recapitalized recently.
For the short Independence week ending Friday, July 3, 2008, the U.S. Markets ended the week in bear market territory with the Dow and the NASDAQ off more than 20% from their market peak set in October, 2007.
Aetna shares dropped 5 percent and Health Net tumbled 10 percent after a Goldman Sachs analyst slapped "sell" ratings on the two health insurers' stocks Thursday.
The Dow Jones Industrial Average shed 1.5 percent, ending the day firmly in bear-market territory. GM took a hit as one analyst raised the prospect of bankruptcy. Lehman Brothers rose.
The Fast Money traders reveal their best second half trades.
Citigroup is planning to change its bonus system for senior managers to encourage different parts of the vast company to cooperate and help one another win business, a person familiar with the matter told Reuters.
For the week ending Friday, June 27, 2008, the U.S Markets tumbled on low consumer confidence levels, battered financial stocks, interest rates concerns, and new record prices for crude oil.
I think a lot of people envy Goldman, but give them credit, they have had some awesome calls. Doug Kass joked their are two kinds of people. Those that work at Goldman and those who envy them that do.
The market for initial public offerings in the United States suffered its worst quarter since the third quarter of 2003, as canceled IPOs easily outpaced the number of new offerings, according to preliminary Thomson Reuters data.
Who needs theme park thrill rides when you’ve got Wall Street. The Dow tumbled by 358 points after oil climbed to $140 for the first time ever. What's the "Word on the Street?"
The Dow closed at its lowest level in nearly two years after a downgrade on brokerage stocks and a slew of weak earnings and economic reports. Several Dow components and several financial stocks hit multiyear lows, with the biggest shock coming from GM, which fell to its lowest in more than 50 years.