There's a certain irony to the upcoming IPO of LendingClub, the lender that's used software to take on the big banks. The top winner is Wells Fargo.» Read More
Mark writes, “Does Soros’ purchase of 9.5 million shares of Lehman make you more bullish on this name?”
A happy ending to the saga of Kim and Scott Fisher, whom I've been blogging about for two days. They managed to find a buyer for their home willing to pay more than what they owed WaMu and Wells Fargo -- except they couldn't cover $35,000 in closing costs, and the home was heading into foreclosure. Finally, some good news....
Kim and Scott Fisher are watching the clock tick down. As I blogged yesterday, they have an offer on their home for an amount which will allow them to pay off their first mortgage to Washington Mutual and a second mortgage to Wells Fargo. But the Fishers do not have enough to cover $35,000 in closing costs, and they say lenders won't help. Plus, they say WaMu has moved to foreclose on the home. What a mess.
O'Reilly Automotive is a play on a new trend in American car ownership.
After hours Tuesday Goldman Sachs slashed its earnings outlooks for some of its major rivals however it's the Lehman downgrade that has the traders most concerned.
John Stumpf tells Cramer why his banks seems to be doing well despite this tough market.
WaMu, Wells Fargo play hardball with mortgage debtors -- Is this how to solve the housing crisis?! Also: California foreclosures DROPPING!
Fast Money now - the trades you need while the market is open!
Warren Buffett's Berkshire Hathaway has added a new stake in NRG Energy, according to a just-released portfolio 'snapshot' of its holdings in U.S. publicly-traded stocks as of June 30. A sharply reduced stake in Anheuser-Busch may have been a bet that InBev's initially unsolicited offer for the U.S. brewer would prove to be unsuccessful. Conoco-Phillips data is kept "confidential."
The Dow declined by triple digits on Wednesday with financial shares selling off for a second straight day on fresh concerns about the widening impact of the mortgage crisis.
A year after financial tremors first shook Wall Street, a crucial artery of modern money management remains broken. And until that conduit is fixed or replaced, borrowers will see interest rates continue to rise even as availability worsens for home mortgages, student loans, auto loans and commercial mortgages, says the New York Times.
The rapid slide in commodities prices is fueling the runup in stocks. But market pros think the switch might be short-lived.
With commodity prices coming down, many parts of the market can start their return ascent.
Berkshire Hathaway's second quarter earnings release shows operating profits are down as the insurance industry suffers. Berkshire's long-term potential profits from the stocks it holds are down even more as Wall Street struggled in the first half of the year.
Will recent legislation save the struggling housing market? HUD Secretary Steve Preston, Wells Fargo VP Mary Coffin and Nobel Prize-winning economist Joseph Stiglitz weigh in.
Warren Buffett is perhaps the biggest Wall Street whale of them all. But big bets on struggling financials have contributed to a nearly 25% decline in shares of Berkshire Hathaway. Has this whale been beached?
Cramer means it when he says it. Our great national nightmare is over.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Stocks declined Monday, led by financials after two more banks folded. Oil ticked higher after three straight weeks of decline, clipping consumer-discretionary stocks, including homebuilders, airlines and retailers.
At least not the kind we need right now, Cramer says. Here's why.