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In a market littered with landmines, investors are desperate for a trade that won't blow up on them. Jon Najarian may have found something.
The Dow Jones Industrial Average hit its lowest level in 12 years, slipping below 7,000, then 6,900 and then 6,800, as another bailout of insurance giant AIG stirred fear about the stability of the financial system.
Stocks tumbled Friday and the S&P hit a 12-year low as news of the government's stake in Citigroup and General Electric slashing its dividend stirred worry in the market.
Friday: General Electric (CNBC's parent company) said it'll slash its quarterly dividend 68 percent, saving $9 billion annually. The U.S. agreed to boost its stake in Citigroup to as much as 36 percent. U.S. GDP data was sharply revised downward, with economic loss at 6.2 percent. Experts told CNBC that the market is resisting scary talk from President Obama and Fed Chairman Bernanke — but the recession's end is nowhere in sight.
Wachovia's name will no longer appear on the 2009 PGA Tour tournament it sponsors. In fact, the tournament won't even use the name of bank's parent company, Wells Fargo , which received $25 billion in TARP funds.
A Bank of America official told us that for every $1 they spend on sports marketing, they net $3. They also said that out of all the new checking accounts that were opened in 2008, 10 percent of those were attributed to their sports marketing programs.
Details of the government’s plan to convert its preferred shares to common shares in Citigroup have pushed stock futures sharply lower, with shares of Citi and other banks under pressure in pre-market trading.
Futures started the day lower as investors bailed out of Citigroup, then slipped further after a report showed economic growth slowed more than previously expected.
Could it be? And if so, will it continue? Cramer says there’s reason to think it might.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Don't expect to see any Morgan Stanley executives or clients at the PGA Tour event they sponsor in June. If they show up at The Memorial Tournament presented by Morgan Stanley, they'll be paying their own way.
Fresh off his objection of Northern Trust's spending this past weekend, Rebecca Jarvis and I interviewed House Financial Services Chairman Barney Frank to talk about how companies that have taken bailout money should advertise.
We on Power Lunch were all transfixed during Sen. Corker’s questioning of Federal Reserve Chief Ben Bernanke Tuesday.
Executives with Wachovia and Buick better start scaling back now because this much is now clear: If you or your parent company are receiving federal funds as part of the bailout, having big bashes and spending big money at sporting events is no longer acceptable.
Stocks fell flat as investors grew more confident that the government will stabilize the battered financial sector, but technology remained weak.
The Lightning Round is extended in this CNBC.com exclusive feature.
Here's our Fast Money Final Trade. Our gang gives you Monday's best trades, right now!
Following are the week’s biggest winners and losers. Find out why shares of Wal-Mart and Whole Foods popped while Chesapeake Energy and Wells Fargo dropped.
The market situation's too dire for the Treasury secretary to be out of pocket.
Bank shares have been hammered for two days and some traders are pointing to a "slip of the tongue" Fed Chief Ben Bernanke made when answering questions at the national press club this week.