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.
In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."
In 2014, Bob was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."
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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First, Merrill Lynch has put a price on CDOs and sold them. Yes, it's $0.22 on the dollar, but at least it is a price, and that is what the Street is looking for. Second, the Conference Board consumer confidence index was up, particularly the futures expectation component was up, off the record lows, which dovetails with the uptick in University of Michigan confidence numbers.
Two weeks after reporting huge losses, Merrill Lynch has surprised the Street with significant sales and capital raising. They are: 1) selling $30.6 b in CDOs. They were carried on the books at a value of $11.1 b; buyer Lone Star is paying $6.7 b ($0.22 on the dollar), but Merrill is financing three-quarters of the sale;
One third of decline in the Dow today was due to the five financials stocks. This is the second time in the last three trading days this happened (Thursday was the other day). To a lesser extent, the same situation applies to consumer discretionary stocks--builders, retail, and autos, as they too are underperforming the markets today and Thursday.
A number of factors have been proposed to account for the weakness in financials today. Several traders have pointed to National Australia Bank, which on Friday revealed that exposure to the U.S. subprime market was forcing them to set aside an additional $805 million...
Alibaba is turning the page on its new era...by closing the book on investors.
A theory about Alibaba's impact on other IPOs may get its first test on Thursday.
Energy stocks fall as Brent Crude oil falls to a 17-month low amid lower demand and plentiful supply.
Alibaba's IPO is getting strong demand, raising questions whether the e-commerce giant will increase the size of its offering.
The Russell 2000 has been diverging from the broader market, and technicians say it could be about to flash a very bearish signal.
Bank of America gave up billions in annual revenue by phasing out certain fees and risky banking products.
The Fed could surprise markets Wednesday because of the wide divergence in Wall St. views about its next move.