A pair of big bond insurers with more than $10 billion of exposure to Puerto Rican debt have hired restructuring advisers.» Read More
Bank of America's settlement with MBIA may be a turning point for the company and its investors, reports CNBC's Kate Kelly. Benjamin Lawsky, NY's Dept. of Financial Services superintendent, weighs in.
Stocks finished narrowly mixed Monday as trading was largely muted with no major economic news on tap and as investors hesitated to jump in after the recent rally, but the S&P 500 rose to touch a fresh all-time high.
The bull market's latest run may have some cheering but traders say some of the stocks leading it are questionable -- a sign that a pullback could be ahead.
Hedge fund manager William Ackman, who has called nutritional supplements company Herbalife a pyramid scheme, said the biggest risk in shorting the company was whether regulators would take time to focus on the matter.
You just knew it was the zombies, didn't you? Countrywide's Angelo Mozilo says zombie homeowners were to blame for the financial crisis -- not bad loans.
MBIA scored a convincing victory Monday in its latest skirmish with Bank of America, so the somewhat muted response in the shares since then is surprising, TheStreet.com reports.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
Take a look at some of Monday's midday movers:
Shares of MBIA bounce back slightly after getting slammed yesterday. Mark Palmer, BTIG, explains why he is seeing a buying opportunity in the stock now.
Take a look at some of Tuesday's midday movers:
A lawyer for the banks said MBIA’s chief was “pregnant with inside information” on MBIA’s pending 2009 restructuring when he bought company stock in the months before the announcement. The New York Times reports.
Bank of America just saw the heat turned up again in its multipronged, multibillion-dollar legal battle over problem mortgages, according to an analyst report.
"The year has started a little firmer," Morgan Stanley CEO James Gorman told CNBC during the Davos World Economic Forum. "The U.S. is in a little better shape than the markets have appreciated, and the markets are catching up."
Wall Street sold off sharply in the final hour of trade after the Federal Reserve delivered little hope that it would turn on the easing spigots anytime soon and as a formerly rosy holiday retail season suddenly turned gloomy.
Morgan Stanley said it has reached a settlement with MBIA that will get some risky financial instruments off its books and will resolve pending litigation between the two companies.
Bill Ackman can always be relied on to provide a little excitement in investing circles. His lunchtime presentation at CNBC and Institutional Investor’s Delivering Alpha conference today will be no exception. The founder and CEO of hedgefund Pershing Square Capital Management will unveil his latest investing idea.
What follows is a roundup of corporate earnings reports for Tuesday, May 10.
Stocks ended higher as investors took heart from strong economic news and shrugged off disappointing quarterly results ahead of a big week of earnings. Merck and DuPont led the Dow higher, while BofA fell.
Stocks lost a little steam in the final hour of trading as technology companies slid, although investors remained encouraged by several upbeat economic report. Merck and DuPont gained, while BofA fell.
Fears of a massive wave of municipal bond defaults have given rise to a new question: how can investors profit if a nightmare meltdown scenario becomes reality?