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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The volatility in the stock market due to concerns on a slower economy and credit market risk is creating one clear winner: exchanges. We are seeing new highs for Nasdaq and are just off new highs on the Chicago Merc and Intercontinental Exchange; the New York Stock Exchange has gone from $70 to $90 (up 28%) in less than 2 months.
Markets are coming up against some serious headwinds. We are seeing: --Large number of new offerings coming this week ($8-$10 billion), which will compete with the existing market. --There's been an unusually large number of cancellation of new cash takeovers (over $40 billion)--remember arbs who bought the deals have to sell when they don’t go through, putting pressure on the market.
A flood of economics and earnings reports will quickly dominate the week; already there are a few companies sounding familiar themes. 1) Subprime bleeds into the current quarter for financials. UBS saying their third-quarter loss would be in line with the lowered guidance they gave earlier this month.
Ending at highs for the week, with both the Dow and the S&P up more than 2% for the week; Nasdaq up nearly 3%. Techs up on Microsoft; energy stocks up on oil, Kerkorian's partial bid for Tesoro, and a belief that global growth will remain strong and not diminish demand for oil; and thrifts up on Countrywide.
Two bellweathers in their respective industry have come out with surprisingly bullish commentary, and both have moved the markets. Microsoft's commentary have propelled the perpetual tech laggard to five year highs; to move a $300 billion market cap stock by 12% pre-open is a very rare occurrence.
Futures trading up as Motorola beat expectations and guided upward while EMC was in line and both are up nicely pre-open. There's strength in Europe, strength in Asia, third Quarter GDP in China rose 11.5%. That was in line with expectations. Chinese stocks are the only major market down in Asia, down 5%, probably on worries that more rate hikes are likely.
Alibaba's long-awaited IPO is finally around the corner, making this a good time to take a look at just how an IPO works.
Will Lennar finally turn around the negative sentiment dogging the home building sector?
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.
The Federal Reserve has asked Credit Suisse to address problems relating to the bank's underwriting and sale of leveraged loans.
In a market of 1,600 ETFs, more are pushing the limits of investing (and common) sense. We put oddball ETFs to the test.
The Fed could surprise markets Wednesday because of the wide divergence in Wall St. views about its next move.