A CNBC reporter since 1990, Bob Pisani has reported on Wall Street and the stock market from the floor of the New York Stock Exchange for more than a decade. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before moving to the New York Stock Exchange in 1997.
He was nominated twice for a "CableACE Award"—in 1993 and 1995.
Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.
Follow Bob Pisani on Twitter @BobPisani.
So where's the bottom? Lowry's, the oldest technical analysis service in the United States, put out a long note this morning in which they somewhat sourly concluded, "Our analysis of the forces of Supply and Demand suggests that calls to buy may be premature."
Who’s the winner and loser in drug stocks today? Schering-Plough down 25 percent (!) and Merck down 16 percent pre-open on a study that showed that the companies cholesterol lowering drugs Vytorin and Zetia were not more effective than less expensive drugs.
By any stretch, it’s been a tough week for bulls: dismal economic news; no sign of a bottom in housing; financials have been unstable; and retailers have declined on concerns that not just March, but the second quarter, will be difficult. Still, the markets held up well, considering the news...
So plenty of debate on the retailers as JC Penney lowers estimates. The crux of the debate is, is this the worst for the year? Lehman Brothers thinks so, in a note to clients a short while ago they said, "we are optimistic that 1Q08 represents the low point of the year as we expect inventory levels to improve throughout 2008."
The talk today is not about stocks but about Jimmy Cayne selling his Bear Stearns stock for $60 million. Yes, he sold it for only $10 and change, far below the $175 peak and its $57 price just a few weeks ago, but don't kid yourself. This was bad timing.
The unofficial odds are rising that the Fed will announce taper plans at its December meeting.
Three Wall Street trade groups sued the Commodities Futures Trading Commission to stop tough overseas trading guidelines they fear.
Paid in the form of assistance programs, the funds are in effect a subsidy to the banking industry, The Washington Post reported.