NEW YORK (CNNMoney.com) — A week ago, Joshua Hager was despondent. Laid off by a mortgage company, he has looked for jobs ranging from bank teller to risk analyst. He was sending out as many as 10 resumes a day but was getting barely a nibble from employers or recruiters.This week, things are are looking [...]
The Fed, in a bold move Sunday, agreed for the first time to let big investment houses get emergency loans directly from the central bank. This mechanism, similar to one available for commercial banks for years, got under way Monday and will continue for at least six months. It was the broadest use of [...]
But the lower results easily topped analysts’ expectations for a profit of $1.03 per share on $7.19 billion of revenue, according to Thomson Financial.
John Mack, Morgan Stanley’s chairman and chief executive, said the investment house known for its trading prowess “effectively capitalized on market opportunities and aggressively managed our positions.”
Wall Street’s biggest [...]
WASHINGTON (AP) — Big Wall Street investment companies are taking advantage of the Federal Reserve’s unprecedented offer to secure emergency loans, the central bank reported Thursday.The lending is part of a major effort by the Fed to help a financial system in danger of freezing.Those large firms averaged $13.4 billion in daily borrowing over the [...]
U.S. Financial Crisis Is Over, Analyst Bove Says (Update2)
By Aaron Clark and Jeff Kearns
March 20 (Bloomberg) — The U.S. financial crisis is over
and the decline in bank stocks offers a “once in a generation
buying opportunity for investors, according to Richard [...]
NEW YORK– Investment bank Lehman Brothers Holdings Inc. says its fiscal first-quarter earnings fell 57 per cent due to a steep decline in the company’s capital-markets business.
Net income for the quarter ended Feb. 29 fell to $489 million (U.S.), or 81 cents per share, the company said yesterday.
That compared with earnings of $1.15 billion, [...]
Seat Pagine Shares Drop After Dividend Is Omitted (Update3)
By Chiara Remondini
March 19 (Bloomberg) — Seat Pagine Gialle SpA, Italys
largest publisher of telephone directories, fell the most since
it started trading in Milan in August 2003 after saying it wont
pay a dividend [...]
Seat Pagine Shares Drop After Dividend Is Omitted (Update3)
By Chiara Remondini
March 19 (Bloomberg) — Seat Pagine Gialle SpA, Italys
largest publisher of telephone directories, fell the most since
it started trading in Milan in August 2003 after saying it wont
pay a dividend [...]
Morgan Stanley May Join Goldman in Dispelling Liquidity Panic
By Christine Harper
March 19 (Bloomberg) — Morgan Stanley, which analysts
expect to report a 57 percent drop in first-quarter profit today,
will likely join Goldman Sachs Group Inc. and Lehman Brothers
Holdings Inc. in reassuring [...]
Most U.S. Stocks Advance; Fannie Mae, Morgan Stanley Gain
By Eric Martin
March 19 (Bloomberg) — Most U.S. stocks rose as approval
for Fannie Mae and Freddie Mac to buy more mortgages and better-
than-forecast earnings at Morgan Stanley overshadowed a drop in
energy shares.
[...]
