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.
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This Friday at 9 pm EST and midnight, CNBC will air a special, "Boomer Angst," on the difficulties the baby boomers are facing in their retirement. We did a similar special a year and a half ago, and the facts have not improved since then.
1) UBS is pounding the table on oil: It upgraded oil to $115 for 2008, $120 for 2009, and intitiates coverage of the offshore drilling sector, with buy ratings on Atwood, Diamond Offshore, Ensco, Noble, Rowan, and Transocean. Here are the reasons...
The dangers of complacency were abundantly evident in the last hour. I have remarked all day that the CBOE Volatility Index (VIX) was nearing its lowest level since July of last year. While this is an indication that the levels of fear are clearly dropping, it also indicates--given the real concerns with the economy--that complacency may be a bit too high.
The government reported that gasoline prices in April were down 2 percent when "seasonally adjusted." How could this be, when we know prices went up at the pump? Here's how it happened:
Futures popped 8 points as CPI was a bit below expectations. Prior to the CPI, the bond market broke to lows for the year as the Wall Street Journal's front page asks, "Recession? Not So Fast, Say Some."
Want to know how frustrated Hewlett-Packard spacer shareholders are today? Here's a couple stats: Market cap yesterday: $123 b Today: $107 b Loss: $16 b.
Three points about today’s trading: 1) financials again down on weak earnings from European banks; 2) Bulls hoping that strengthening dollar would lead to a decline in commodity prices are again having a hard time; and 3) All those people arguing that the EDS/Hewlett deal would be a big challenge to IBM are missing the point.
Stronger retail sales than expected (ex-auto up 0.5 percent, the best showing since November) has caused an 8-point pop in futures. Elsewhere: 1) Hewlett-Packard's $12.6 b deal for Electronic Data systems ($25.00 a share) is a direct challenge to IBM.
China sees biggest drop in exports in four-and-a-half years and the biggest trade deficit in two years, weighing on stocks.
Copper is swooning on China fears, and it's not exactly alone.
Banks lead this week after underperforming this year. Rising rates provide a boost.
Stocks are at new highs, but where are the bargains?
Institutional investors are closely monitoring the developments at Pimco in the wake of the CEO's resignation and ensuing acrimony with co-founder Bill Gross.
What's behind investor activist Carl Icahn's battle with Marc Andreessen, the entrepreneur turned technology investor.
Stocks are likely to suffer in the short term, but jumping out of the market is not a smart move, said Jack Bogle.