An award-winning journalist and New York Times best-selling author, David Faber is a co-anchor of CNBC's "Squawk on the Street" (M-F: 9 a.m.-12 p.m. ET) and an anchor and co-producer of CNBC's acclaimed original documentaries and long-form programming.
During the day, Faber breaks news and provides in-depth analysis on a range of business topics during the "Faber Report." In his 20 years with CNBC, Faber has broken many big financial stories including the massive fraud at WorldCom, the bailout of the hedge fund Long Term Capital Management and Rupert Murdoch's unsolicited bid for Dow Jones.
Faber has reported ten documentaries for CNBC for which he has received Loeb, Emmy, Peabody and duPont awards.
His book, "The Faber Report," was published by Little, Brown in spring 2002; his second book, "And Then the Roof Caved In," was published in the summer of 2009 by John Wiley.
He holds a bachelor's degree in English from Tufts University.
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Express Script’s deal to acquire Medco Health Solutions for roughly $29 billion in cash and stock is being applauded by ESRX shareholders, but the key constituency on whether this deal will happen is likely to be the Federal Trade Commission.
A phone hacking scandal continues to rock the house of Rupert Murdoch, sending shares of News Corp plummeting as well as those of its acquisition target BSkyB.
It looks like it may be a busy weekend for Williams Companies, its advisors and its board of directors as the company seems likely to move ahead with an offer to top Energy Transfer's latest $40-a-share offer for Southern Union, according to sources.
It may have been missed given the strong rally in equity prices last week, but certain asset classes within the credit markets had their own rally last week, and for some it was a big one. The ABX index, which tracks the performance of different vintages of mortgage backed securities and is widely used as a barometer for so called subprime mortgages, was up an astounding 20 percent last week, while junk bonds also rallied sharply
If at first you succeed, why not try again. That seems to be the thinking of activist investor Nelson Peltz, who has recently purchased 12.2 million shares in Kraft Foods, a stock he has trafficked in frequently over the last four years, usually with good results.
Earlier this year, when Williams Companies approached Southern Union to talk about acquiring the company, the two sides didn't make much headway, say people familiar with the approach.
Regardless of whether there is another Greek “save”, preventing the actual default that still seems inevitable, the fact remains that adding debt to try and solve a debt crisis is a moronic approach when your interest costs already exceed your tax revenues (as is currently the case in Greece).