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| As of Friday, November 27th: |
LATEST EARNINGS RESULTS
- Global Selloff From Dubai Shows Signs of Winding Down
- Dubai Stock Selloff May Bring Buying Opportunity
- Tiger Woods Out of Hospital After Accident
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Get Paid Six Figures to Wear a T-Shirt?
- The World's Biggest Debtor Nations
- Five Tips for Buying a Foreclosed Home
- Slideshow: Fantasy Christmas Gifts 2009
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- Get Paid Six Figures to Wear a T-Shirt?
- 8 Retailers that Gain During the Holidays
- Dubai Spooks Investors But May Bring Buying Opportunity
- Finding the Holiday's Best Buys
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Longer Lines, Fuller Carts This Black Friday
- The Good Entrepreneur Winner
- Banks Play Down Dubai Exposure, Investors Still Wary
In yet another surprising development, the Federal Reserve has granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.
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With that announcement, the chances of a Morgan-Wachovia deal diminishes considerably.
The Fed's move to declare Morgan Stanley into a bank and extend credit to the firm as if it were a bank put Morgan Stanley's merger with Wachovia [WB
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] firmly on the back burner and possibly scuttled the deal all together, sources tell CNBC.
Morgan Stanley [MS
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] had been negotiating with officials from Wachovia through Sunday night for a possible merger. At the same time, Morgan Stanley had been speaking with officials with the Chinese government about a huge cash infusion.
Meanwhile, Morgan Stanley has also been dealing with Fed officials about possibly transitioning its legal structure, meaning the Fed would extend virtually unlimited credit, making Morgan Stanley less susceptible to bear runs with hedge funds pulling lines of credit.
Morgan officials were unclear Sunday as to when and if the Fed might announce the move, which is one reason why they continued talks with Wachovia and the Chinese.
But with the new powers, the Wachovia deal has been put on hold indefinitely and any potential deal with the Chinese may become unnecessary, people close to the firm said.
Concern within Goldman Sachs [GS
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] had been mounting for the last week, with people close to that firm saying that they would potentially merge with a bank. The Fed's move should scuttle that as well.
The change in status makes Goldman Sachs the fourth largest bank holding company in the U.S.
For Investors
- Is Your Money-Market Fund Safe? Find Out
- Slideshow: Biggest Chapter 11 Cases in US History
- Eight Tips for Investing in Hard Times
- Need Safety? Take a Look at Bonds
- What If You're a Client of Lehman, Merrill or AIG?
- Have an AIG Insurance Policy? Don't Fret
- How You Can Protect Your Money
- TiVo Reports Quarterly Loss but Matches Forecasts
TiVo announced a quarterly loss that matched analysts' forecasts, but its sales topped expectations.
- Hewlett-Packard Profit Rises, Matches Guidance
Hewlett-Packard said a strong performance in China and improved profit margins in its services business helped drive quarterly earnings 14 percent higher.
- Analog Devices Results Beat Expectations; Shares Rise
Analog Devices reported a quarterly profit that fell from a year ago but topped Wall Street's expectations, sending shares higher in extended trading.
- TiVo Reports Quarterly Loss but Matches Forecasts
- Tyson Food Profit Beats Estimates
Tyson Foods posted higher-than-expected quarterly results on Monday on strength in its beef, pork and prepared foods businesses, which it expects to continue in its new fiscal year.
- Tyson Food Profit Beats Estimates
- Horton Results Miss Estimates, Shares Drop
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- Gap Reports Earnings in Line With Forecasts
- Intuit Posts Narrower-Than-Expected Loss
- Sears Posts Second Consecutive Quarterly Loss
- BJ's Wholesale Profit Falls, Hurt by Falling Food Prices
- Salesforce Profit Beats Forecasts, but Shares Fall
- Autodesk Shares Fall on Disappointing Outlook
- Home Depot Profit Beats; Says Markets Under Pressure
- Target Third Quarter Profit Up, Cautious on Fourth
- Weak US Housing Market Drags on Lowe's Profit
- JC Penney Profit Falls, but Shares Up on Forecast
- Disney Profit, Sales Top Forecasts; Shares Jump
- Nordstrom Earnings Miss Forecasts; Shares Take Hit
- Wal-Mart Holiday Forecast Light, Profit Beats








