Wall Street – News Stories About Wall Street - Page 31

Mar 14, 2008 9:25 AM CDT

JP Morgan, Feds Bail Out Bear Stearns

The investment bank's liquidity crisis forces it to ask for emergency help

(Newser) - Bear Sterns has reached out to rival JP Morgan Chase and the Federal Reserve Bank of New York for emergency funding to reassure investors concerned about the struggling investment bank's deteriorating liquidity, the Wall Street Journal reports. The move is a startling indicator of how hard the subprime virus has...

Most Economists Say
Recession Is Here

Mar 13, 2008 5:00 PM CDT

Most Economists Say Recession Is Here

WSJ poll sees big shift toward the negative from survey five weeks ago

(Newser) - A cascade of bleak financial news has convinced most economists in a Wall Street Journal poll that the US is already in a recession. The results are markedly more negative than a similar survey only five weeks ago, and much of the foul mood can be traced to last week’...

Come Clean or Quit; Maybe Both

OPINION

Mar 11, 2008 12:35 PM CDT

Come Clean or Quit; Maybe Both

Should he go? What would it take to stay?

(Newser) - As Eliot Spitzer mulls his options, the editorial boards of the state's newspapers are weighing in:

Wall Street Journal: "The stupendously deluded belief that the sitting governor of New York could purchase the services of prostitutes was the last act of a man unable to admit the existence of,

...

Corporate America Revels in Spitzer's Fall

Mar 11, 2008 9:40 AM CDT

Corporate America Revels in Spitzer's Fall

Schadenfreude strikes onetime targets of 'Sheriff of Wall Street'

(Newser) - Wall Street is reveling in the fall of Eliot Spitzer, who as AG made exposing corruption highly personal, reports the Wall Street Journal. "He actually believes he's above the law," says ex-NYSE director Ken Langone, whom Spitzer sued for paying too much to the Big Board's CEO. "...

Fidelity Pays $8M in SEC Gift Scandal

Mar 5, 2008 10:20 PM CST

Fidelity Pays $8M in SEC Gift Scandal

Investor giant Peter Lynch fined $20K for procuring tickets to concerts, games

(Newser) - Investment guru Peter Lynch and Fidelity Investment settled SEC charges brought against them alleging that Lynch used Fidelity traders to procure tickets to high-profile concerts and sporting events. Lynch, vice chairman of Fidelity's parent company, agreed to pay $15,948 for the tickets, plus $4,183 in interest. Fidelity will...

Wall Street Faults Rules
on Writedowns

Mar 1, 2008 12:09 PM CST

Wall Street Faults Rules on Writedowns

Critics say accounting rules exaggerate losses, hinder market

(Newser) - After months of staggering writedowns battering Wall Street, some investors and executives are charging that accounting rules are exaggerating losses and triggering slumps like yesterday’s 315-point plunge in the Dow, reports the Wall Street Journal. Rules requiring companies to value holdings at current market rates, no matter how volatile,...

IBM to Buy Back $15B of Stock

Feb 26, 2008 3:04 PM CST

IBM to Buy Back $15B of Stock

Company raises its profit forecast

(Newser) - IBM will repurchase $15 billion of its own stock, it revealed today, leading the IT company to raise its profit forecast for the year to beat Wall Street predictions. The Armonk, NY-based computing giant will spend $12 billion on the buyback this year, the AP reports. The company told the...

Gore to Investors: Ditch Guzzlers

Feb 15, 2008 7:36 AM CST

Gore to Investors: Ditch Guzzlers

Costs risk market crash, he warns

(Newser) - Nobel prize-winner Al Gore yesterday urged financial leaders at a United Nations conference in Manhattan to unload their investments in businesses reliant on carbon-intensive energy. Gore likened such investments to the subprime mortgage market, warning that "the assumption you can safely invest" in business models that assume carbon is...

Time Warner Plans AOL Spin-Off

UPDATED

Feb 6, 2008 11:44 AM CST

Time Warner Plans AOL Spin-Off

New CEO also considers selling Time Warner Cable

(Newser) - In an effort to revive the company's slumping stock, Time Warner's new CEO plans to break up AOL, keeping its growing online ad properties, but unloading its increasingly obsolete dial-up Internet service provider. Operating income at AOL fell 70% in the fourth quarter, as the company continued to lose Internet-access...

European Markets Open Higher as
Asia Rallies

Feb 4, 2008 7:33 AM CST

European Markets Open Higher as Asia Rallies

Street's positive close has investors upbeat

(Newser) - European markets opened higher on the heels of a mining and technology stock rally in Asia and a positive close on Wall Street Friday, reports the AP. China's benchmark Shanghai Composite Index surged 8.1%, in part on news in state-run papers that the snow emergency in China was overblown....

Microsoft-Yahoo Draws Huzzahs From Analysts

OPINION

Feb 1, 2008 2:46 PM CST

Microsoft-Yahoo Draws Huzzahs From Analysts

Some see bid turning hostile if Yang balks at Ballmer offer

(Newser) - First reaction to Microsoft's bid to buy Yahoo for $44 billion has been generally positive, especially among Wall Street analysts. Silicon Alley Insider's Henry Blodget, an ex-analyst, quotes several who predict regulators and shareholders will have no problems with the deal. Meanwhile, New York Times blogger Steven M. Davidoff says...

Profits Burnout at Electronic Arts

Feb 1, 2008 1:08 AM CST

Profits Burnout at Electronic Arts

Game maker loses money despite soaring game sales

(Newser) - Video game sales are at an all-time high but the world's largest independent publisher of them has reported a third-quarter loss, reports the AP. Electronic Arts says the loss is down to restructuring and accounting changes. Revenue was up 17%, but the company saw its share of the market slip...

Amazon Gets Late Christmas Present

Jan 30, 2008 5:47 PM CST

Amazon Gets Late Christmas Present

Holiday shopping doubles retailer's quarterly income

(Newser) - Amazon's net income more than doubled in the fourth quarter, in part because of the retailer's sales gimmicks for the holidays, reports the Wall Street Journal. In addition, Amazon released a cheerier than expected forecast for this year's first quarter. The good news could help soothe Wall Street's nervousness over...

Investors Worry Clear Channel Sale Is Off the Air

Jan 30, 2008 3:22 PM CST

Investors Worry Clear Channel Sale Is Off the Air

Credit worries and a slumping stock price have Wall Street worried the deal is done

(Newser) - Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports....

Are Foreign Bailouts
Good for the Economy?

Jan 25, 2008 11:30 AM CST

Are Foreign Bailouts Good for the Economy?

Critics worry rush of overseas cash heralds fundamental

(Newser) - Wall Street firms, battered by the collapsing subprime market, shored by their bottom lines by selling ownership stakes to foreign governments. Although the investments represent a significant change in the US economy, they drew little public criticism and no government intervention. That reaction—or lack thereof—follows years of lobbying...

Poll: Most Expect Recession but Aren't Hurting—Yet

Jan 25, 2008 3:34 AM CST

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

No Worm in Apple, Yet
Stock Falls

Jan 22, 2008 10:23 PM CST

No Worm in Apple, Yet Stock Falls

Record-high $1.5B earnings fail to placate nervous investors

(Newser) - Despite reporting record-high earnings, Apple saw its stocks fall more than 11% after the market closed today, the New York Times reports. Apple's lowered 2nd quarter earning expectations may have sparked the drop, analysts say, unless investors are anxious about the high-end electronics market in general as the US economy...

Merrill Hauls in $6.6B Lifeline

Jan 15, 2008 6:05 AM CST

Merrill Hauls in $6.6B Lifeline

Recapitalization plans move forward as firm struggles to shake subprime debacle

(Newser) - Merrill Lynch has reached into the deep pockets of foreign investors once again, pulling in a $6.6-billion lifeline today from a consortium of investors that include Japan’s Mizuho Financial Group and the Kuwait Investment Authority, the Wall Street Journal reports. In December, Merrill received a $5-billion cash infusion...

Investigators Ask: Did Banks Withhold Info?

Jan 12, 2008 4:35 PM CST

Investigators Ask: Did Banks Withhold Info?

Banks hid risk of bundled 'exception' loans, insiders say

(Newser) - Prosecutors are probing Wall Street banks to see if they ever revealed the risky nature of certain subprime mortgage investments, the New York Times reports. Industry experts are accusing the banks of turning high-risk loans, called exceptions, into investments without divulging details to investors and credit-rating agencies. One probe, led...

Tumbling Yahoo Now a Target?

Jan 11, 2008 9:51 PM CST

Tumbling Yahoo Now a Target?

Rumors of Microsoft takeover still swirling

(Newser) - Yahoo's falling core value threatens the company's future and is ringing alarm bells for investors, the New York Times’ Saul Hansell warned in his "Bits" blog. The central business of Yahoo.com, excluding subsidiary holdings, is worth less than half of its current share price, and a paltry 7%...