Sep
15
Merrill Lynch to be bought by B of A in $50 bln all-stock deal
September 15, 2008 | Leave a Comment
Merrill Lynch agrees to $50 billion bid from B of A
Wary of the global financial storm, firm accepts $29-share all-stock proposal
By MarketWatch
Last Update: 9/15/2008 9:49:00 AM
NEW YORK (MarketWatch) — Merrill Lynch & Co., navigating in a global financial
storm, agreed to be bought by Bank of America Corp. in an all-stock deal the
companies valued at $50 [...]
Sep
15
Fed sets emergency steps to ease strains; market bets on rate cut
September 15, 2008 | Leave a Comment
Fed sets initiatives to limit market disruption
Market increases bets on a rate cut; bank watchers wait to see market reaction
By Greg Robb, MarketWatch
Last Update: 9/15/2008 10:10:00 AM
WASHINGTON (MarketWatch) — With Wall Street scrambling to contain a financial
crisis, the Federal Reserve on Monday assembled a series of emergency tools to
head off panic, expanding its loan programs [...]
Sep
15
Gold rises as financial crisis deepens
September 15, 2008 | Leave a Comment
NEW YORK (MarketWatch) - Gold futures rose Monday for a second session, rallying
to near $790 an ounce at one point, as the deepening crisis on Wall Street raised
demand for the safe-haven investment. Gold for December delivery rose $12.30, or
1.6%, to $776.80 an ounce in early electronic trading. It surged $25 overnight to
$789.50. Wall Street witnessed [...]
Sep
12
Judge Denies Latest Bid To Dismiss ‘Squawk Box’ Case
September 12, 2008 | Leave a Comment
NEW YORK (Dow Jones)–A federal judge on Friday denied a motion by a group of
ex-securities brokers and former A.B. Watley Inc. executives to dismiss a
criminal case against them in an alleged scheme to misuse brokerage firm “squawk”
boxes.
At a hearing Friday, U.S. District Judge Jack Weinstein refused to dismiss the
remaining conspiracy count against three ex-brokers at [...]
Sep
4
ANALYST RATINGS CHANGES AS OF 1100 GMT
September 4, 2008 | Leave a Comment
ANALYST RATINGS CHANGES AS OF 1100 GMT
Last Update: 9/4/2008 6:59:12 AM
BROKER & NEW RATING (FROM) TARGET (PREVIOUS)
COMPANY
=========================================================
Citigroup:
Banesto Sell (Hold) EUR8.3 [...]
Aug
28
Lehman layoffs cap a bad week for Wall St. jobs
August 28, 2008 | Leave a Comment
Lehman, Merrill shut the door
Commentary: Job cuts, smaller bonuses and scorn on tap until yearend
By MarketWatch
Last Update: 8/28/2008 3:15:00 PM
NEW YORK (MarketWatch) — If America has any pity left for the Wall Street
banker, it was directed Thursday at the bankers of Lehman Brothers Holdings Inc.
Reports said the battered Lehman (LEH) is planning to cut 1,500 [...]
Aug
21
3rd UPDATE: Three Banks Agree To Buy Back Billions Of ARS
August 21, 2008 | Leave a Comment
3rd UPDATE: Three Banks Agree To Buy Back Billions Of ARS
Last Update: 8/21/2008 8:18:38 PM
(Updates with SEC comment on settlement with Merrill Lynch in the works in
paragraphs 13 and 14, Goldman Sachs statement in paragraph 17, and Bank of
America declining to comment in paragraph 23.)
By Chad Bray
Of DOW JONES [...]
Aug
20
Goldman sees more pain for banks, brokers
Analysts cut profit estimates and warn of more write-downs, asset sales
By John Spence, MarketWatch
Last Update: 8/20/2008 3:13:00 PM
BOSTON (MarketWatch) — Goldman Sachs analysts became the latest to chop their
profit estimates on bank and brokerage stocks on the expectation of more ugly
write-downs triggered by the ongoing tumult in credit markets.
“We [...]
Aug
19
For Lehman, surviving comes at a cost
August 19, 2008 | Leave a Comment
Surviving at a cost
Commentary: Merrill and Lehman will survive but lose key parts
By MarketWatch
Last Update: 8/19/2008 8:52:00 AM
NEW YORK (MarketWatch) - Dick Fuld, Lehman Brothers Holdings Inc.’s chief
executive, has decided to sell off one of the company’s most prized assets to
survive.
Lehman (MER) is reportedly shopping Neuberger Berman, the asset management firm
it bought for $2.6 billion [...]
Aug
19
For Investment Banks, Mergers Are Looking Attractive Again
August 19, 2008 | Leave a Comment
By Matthias Rieker
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–In banking circles, convergence talk is back.
Mergers between investment banks and commercial banks had become rare until
JPMorgan Chase & Co. (JPM) bought Bear Stearns, but falling profits and tougher
funding have hurt Lehman Brothers Holdings Inc. (LEH), Morgan Stanley (MS),
Merrill Lynch & [...]
