Investors Flee SAC Capital as Investigation Ramps Up
As SAC Capital fights to fend off an insider trading investigation, investors are running away from the hedge fund.
morgan stanley
A Former CIA Deputy Director Fell for This Scam. Would You?
Frank Carlucci was the No. 2 man at the CIA and Reagan's Secretary of Defense, but he didn't use his intelligence to defend himself from getting conned out of $32 million.
Weak Earnings Results Drive Slight Decline on Wall Street
Disappointing earnings results weighed on the stock market in morning trading on Thursday, following two steep drops this week.
Morgan Stanley Profit Falls, But Beats Wall Street Expectations
Morgan Stanley says profit and revenue dropped in the first quarter, though the results beat Wall Street expectations.
Bullishness from 2 Investment Banks; Lululemon Recall
Goldman Sachs expects the S&P index to hit 1625 this year, and Morgan Stanley (MS) raised its target to 1600. Both had been pretty bearish on the market. The S&P closed yesterday at 1552.
Is Goldman Sachs Riskier Than It Wants to Admit?
The Federal Reserve will release the final results of its bank stress tests after Thursday's market close. But preliminary results suggest Goldman could lose $25 billion from bad trades in another financial crisis, more than any other bank tested by the Fed.
From Wall Street to NYC Cabbie: What I Learned on the Way Down
Jack Alvo explains how he went from earning $200,000-plus a year on Wall Street to driving a New York City cab, and how it gave him a second chance.
Why It's Really Time to Break Up the Too Big to Fail Banks
When the financial crisis hit, Washington chose to rescue America's biggest banks, lest their failure crush the economy. Now, "too big to fail" has morphed into "too big to jail," and letting them remain that way isn't good for the economy -- or the banking industry.
Morgan Stanley Shares Climb After Bank Swings Back to Profitability
Investment bank Morgan Stanley says it swung to a profit in the fourth quarter. Shares jumped in pre-market trading. The bank earned $867 million after stripping out an accounting charge. That's up from a loss of $374 million in the same period a year ago.
Goldman Sachs, Morgan Stanley Pay $557 Million in Mortgage Case
The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks and mortgage lenders, relating to wrongful foreclosures. Combined, the 12 firms will pay more than $9 billion.
Stock Futures Mixed After S&P Closes at 5-Year High
Stock futures are mixed in light volume with markets awaiting the next rush of earnings reports DJIA and S&P 500 futures are down a hair, while Nasdaq futures are up a point. Traders appear to be holding their positions a day after the Standard & Poor's 500 Index ended at a five-year peak.
Top 10 Business Stories of 2012
This would be the year when the global economy finally regained its vigor. At least that's what many had hoped. It didn't happen. So what were the top ten business stories of 2012?
Major Banks Cutting 160,000 Jobs Worldwide -- With More to Come
Major banks have announced some 160,000 job cuts worldwide since early last year, more layoffs are coming as the industry restructures. The numbers are much higher in Europe than in Asia or the United States -- and those loses will be a particularly heavy blow to Britain.
Stock Upgrades: Sherwin-Williams Set to Paint the Town Red
If the fifth lightest trading volume of 2012 was like watching paint dry, you won't find Sherwin-Williams complaining. The stock climbed 5.84% in its best showing for 14 months, and scored an analyst upgrade this morning.
2012 Election: Which Industries Won When Obama Did
The election is over, and now, the many investors who were keeping a close eye on the polls know what they're getting (somewhat) in terms of the federal government for the next few years. Here's a look at 21 economic sectors, and what a second Obama term will mean for each of them.
Morgan Stanley to Buy Citi's Smith Barney Stake
Morgan Stanley and Citigroup settled a dispute Tuesday over the value of the brokerage firm Morgan Stanley Smith Barney, which they jointly own. The deal clears the way for Morgan Stanley to buy Citigroup's 49 percent interest in the broker, giving Morgan Stanley full ownership.
Offshored Trillions: The Hidden Economy That's Robbing the World
Tax havens are big news in the U.S., but a recent study shows that, when it comes to offshoring cash to dodge taxes, Americans are amateurs. Globally, tax havens are used to hide an estimated $21 trillion, more than the entire U.S. GDP.
Ex-Citigroup CEO Weill: Time to Break Up 'Too Big to Fail' Banks
Sanford "Sandy" Weill, the tycoon most who built financial conglomerate Citigroup into a massive U.S. commercial and investment bank, said it is time to split up the biggest banks.
Where to Find Interest Rates on Savings That Beat Your Bank
Low interest rates may be great for borrowers, but they're terrible for savers. Bank accounts on average are paying around half a percent -- which doesn't even keep up with inflation. What to do? Turn to banks on the Internet.
Why Wall Street Workers Are Worse Investors Than Main Street
Wall Street's big banks paid out $156 billion last year in salaries, bonuses, and benefits. Yet while investment bankers' checking accounts were growing, their retirement savings took a massive hit -- and much of the reason can be traced to one common investing mistake.
Facebook, Week Two: Fortunes Made and Fortunes Lost (Mostly Lost)
The ongoing saga of Facebook's post-IPO tumble is a classic, Greek-style tragedy of hubris, epic overreach, and equally epic failure, and the media can't get enough of it -- even though large chunks of it are essentially fictional.
What Mark Zuckerberg Can Learn From Ben and Jerry
Facebook's first few days as a public company have been a rocky road. Moving ahead, Mark Zuckerberg would do well to recall the lesson of two other iconoclastic company founders: Ben Cohen and Jerry Greenfield. The tale of Ben & Jerry bears a bracing similarity to his own.
What's the Difference Between Wall St. Banks and Used Car Salesmen?
Not much, and the jokes on you if you think otherwise. As the Facebook IPO makes abundantly clear, ordinary investors need to stop counting on Wall Street to look out for them.
Morgan Stanley Cut Facebook's Forecast, Then Boosted Its IPO
After all the finger pointing over Facebook's rapid share price decline, there is one factor that should have served as warning. Morgan Stanley, the lead underwriter, cut earnings estimates in the lead-up to the IPO -- while expanding its size and raising its price.
Global Woes Hold Only 'Modest Contagion' Risk for U.S. Banks
A "modest contagion" for financial stocks "should allow domestically focused financial stocks to stabilize in the coming weeks," despite the JPMorgan Chase trading mess and the "deteriorating conditions in Europe, according to KBW analyst Fred Cannon.
JPMorgan's $2 Billion Loss Stuns Market; Bank Stocks Sink
JPMorgan Chase stock lost more than 8% of its value Friday after the bank, the largest in the United States, revealed a monster $2 billion loss in a trading group that manages the risks the bank takes with its own money.
Either a Borrower or a Lender Be: Why P2P Lending Keeps Growing
It's unlikely that random people will just give you the money you need to float you through your ordinary fiscal troubles. But they might make you a loan. Peer-to-peer lending, where borrowers bypass big banks and get loans directly from other individuals, is getting bigger all the time.
Is Another Banking Crisis Staring America in the Face?
Recent stress tests on America's big banks reveal that the financial crisis is far from over. While the "too big to fails" are in better shape than they were in 2008, there's still "room for improvement at virtually every firm."