Wall Street

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Dow Surges After Asian Bleeding, Roller-Coaster Day

(Newser) - Wall Street is dizzy after mixed signals threw traders into buy mode despite an abundance of bearish indicators today, making for one of the most volatile days in weeks. The Dow finished up 150.38 points at 13362.37, even after Asian markets plummeted across the board last night, a...

Dow Shocks with 92 Point Gain
Dow Shocks with 92 Point Gain
Jul 30, 2007 3:44 PM CDT

Dow Shocks with 92 Point Gain

But credit worries still lurking

(Newser) - The Dow rebuffed Wall St.'s bearish ambiance today, picking up 92.84 points to close at 13,358.31. One analyst says the weekend calmed jitters that led to a 500 point bloodletting at the end of last week, and a day without any major economic shakeups or earnings...

Wall Street Jittery After Drop
Wall Street Jittery After Drop
Jul 30, 2007 4:47 AM CDT

Wall Street Jittery After Drop

Markets jittery after stock drop

(Newser) - Wall Street has a case of nerves. After last week's market drop, the worst in five years, investors shouldn't expect any more "Merger Mondays" for some time to come, the New York Times predicts. Instead opening the week with big new deals, to send the market to new highs,...

Why Wall Street Is Bullish on Texas

Big tax breaks for firms at home on the range

(Newser) - Companies with Texas offices save thousands by hosting cattle or growing crops on their property, the WSJ reports. The state’s “agricultural exemption” grants hefty property tax breaks to firms devoting at least part of their land to preserving or cultivating nature. Fidelity saved more than $318,000 by...

Dow Sinks Further on Credit Jitters
Dow Sinks Further on Credit Jitters
Jul 27, 2007 4:10 PM CDT

Dow Sinks Further on Credit Jitters

GDP report, earnings, can't stave off 208.10 point slide

(Newser) - Stocks tumbled more than 200 points for the second day in a row, on fears that small-cap securities might be especially hard hit by a possible collapse in certain financial services. The Dow was down 208.10 to 13265.47, despite a report that the GDP grew faster this quarter...

Credit Crunch Rocks LBOs
Credit Crunch Rocks LBOs
Jul 27, 2007 6:27 AM CDT

Credit Crunch Rocks LBOs

Fears of risky debt ripples through global markets

(Newser) - Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which just weeks ago were predicting acquisitions worth $100 billion and more, are now finding large-scale borrowing too expensive...

5 Reasons to Think Bearish
5 Reasons to Think Bearish
Jul 22, 2007 8:29 AM CDT

5 Reasons to Think Bearish

Despite record growth, Wall Street has plenty of cause for concern, Business Week says

(Newser) - Wall Street is giddy with low unemployment, optimistic earnings predictions, and a resilient economy, but BusinessWeek lists five things for investors to worry about.
  1. Volatility in earnings, especially tech companies
  2. Consumer spending, as gas prices take their toll
  3. Inflation, which could prompt the fed to raise interest rates
  4. Subprime aftereffects,
...

Bear Stearns Funds Nearly Wiped Out
Bear Stearns Funds Nearly Wiped Out
Jul 18, 2007 11:08 AM CDT

Bear Stearns Funds Nearly Wiped Out

Wall Street avoids subprime blues, but outlook bearish

(Newser) - Bear Stearns told clients yesterday that two of its hedge funds backed heavily by subprime mortgages were close to valueless. The investment bank is putting up $1.6 billion in rescue financing, as Wall Street looks to dump other bonds that have been hit by the subprime downturn as quickly...

Dow Breaks 14K, Briefly
Dow Breaks 14K, Briefly
Jul 17, 2007 3:56 PM CDT

Dow Breaks 14K, Briefly

Strong earnings, weak inflation boost markets

(Newser) - The Dow shattered the 14,000 mark for the first time in its history today, floating 22 points above the milestone but dipping just before the bell to close at 13,971.55—still a 20.57-point gain. A projection of relatively docile inflation, combined with continued encouraging earnings reports...

Motorola Chief Walks On Razr&rsquo;s Edge
Motorola Chief Walks On
Razr’s Edge
Jul 12, 2007 11:22 AM CDT

Motorola Chief Walks On Razr’s Edge

Second straight quarterly loss fans firing flames for Zander

(Newser) - Motorola posted its second consecutive quarterly loss yesterday, amplifying calls for the ouster of CEO Ed Zander. Despite the popularity of the Razr handset, the company has likely ceded its second-place position in the cellphone wars to Samsung, and now analysts are doubting it'll turn a profit this year.

Funds Find One Bet They Can't Hedge: Trust

It's 1998 all over again as Bear Stearns buckle triggers panic

(Newser) - The recent collapse of two Bear Stearns hedge funds, and the resulting informal SEC investigation, have once again placed the complex system and its impact on markets under the spotlight. The Washington Post delves into the history and ethos of the powerful funds, comparing them to the Wizard of Oz...

Battle for Tech-Savvy New Grads Heats Up

Geeks are a hot commodity on the job market

(Newser) - Demand for students and recent grads with top-notch tech skills is higher than it's been in over a decade, thanks in part to banks and securities firms waging the recruiting wars alongside Silicon Valley giants such as Google. Bloomberg goes inside the process of wooing the so-called millennials, born between...

Wall Street, GOP Team Up on Tax Bill

Proposal would raise tax rate for private-equity profits from 15% to 35%

(Newser) - Wall Street stormed Washington yesterday, as more than 70 lobbyists for financial firms met with GOP lawmakers to organize opposition to a bill that would raise the tax rate on private-equity partners. The proposal would require managers at private partnerships to pay the normal income tax rate of up to...

CPI Registers Spring Spike
CPI Registers Spring Spike
Jun 15, 2007 11:06 AM CDT

CPI Registers Spring Spike

Energy, food drive big May bump in consumer spending as core inflation stays cool

(Newser) - The consumer price index jumped 0.7% in May, riding high energy prices to its second-biggest spike in 16 years. But the volatile food and energy sectors appeared not to disrupt the rest of the economy, MarketWatch reports. The core CPI, which excludes food and gas prices, rose only 0....

Wall Street Mogul Starts N(ew)FL
Wall Street Mogul Starts N(ew)FL
May 30, 2007 4:03 PM CDT

Wall Street Mogul Starts N(ew)FL

Investment banker, Google exec lay groundwork to challenge NFL next year

(Newser) - Wall Street renegade Bill Hambrecht is taking on one of America's biggest monopolies and launching his own professional football league. The United Football League plans to launch its challenge to the NFL's hegemony in 2008 with eight teams in non-NFL markets, including Los Angeles, Las Vegas, and Mexico City. One...

Former Exec Rails on Paydays
Former Exec Rails on Paydays
May 17, 2007 2:22 PM CDT

Former Exec Rails on Paydays

(Newser) - Former Goldman Sachs chairman John Whitehead is appalled by Wall Street's salary binge, and he wants his ex-employer to snap out of it. In an ornery interview with Bloomberg News, Whitehead, who ran the company from 1976 to 1984, says hedge funds sparked the rush toward obscene paydays but Goldman...

Inflation Cools, Heats Wall Street
Inflation Cools, Heats Wall Street
May 15, 2007 1:48 PM CDT

Inflation Cools, Heats Wall Street

But gas prices, at record highs, still worrisome

(Newser) - The core consumer price index stayed steady last month, rising just 0.2% and cooling worries about inflation. The overall CPI, which responds to fluctuating food and energy costs, climbed 0.4%, still well within the comfort zone. That's good news for the Fed, which held interest rates steady last...

The Class System at Dow Jones
The Class System at Dow Jones
May 3, 2007 4:30 PM CDT

The Class System at Dow Jones

how class system favors Dow Jones

(Newser) - In rejecting Rupert Murdoch's offer for Dow Jones, the Bancroft family provides a textbook example of the case for—and against—dual class shares for media companies. With their shares carrying ten times the voting power of publicly traded shares, the family has the power to spurn a suitor it...

Wall Street Snapping Up Losers
Wall Street Snapping Up Losers  
Mar 28, 2007 9:46 AM CDT

Wall Street Snapping Up Losers

Tech companies with no profits are enjoying hot IPOs again

(Newser) - Money-losing tech companies are enjoying overheated IPOs again. In a disconcerting echo of 1999, Forbes reports more than half the companies going public so far this year have yet to turn a profit. "The losers may be us," Quentin Hardy cautions, "a public suddenly so hot for...

Wall Street Tigers Bearish on Stocks

Investment club moves to hedge funds, private equity instruments

(Newser) - Tiger 21—the elite investment club whose members have at least $10 million each — is moving away from stocks and into alternatives like hedge funds and private equity instruments. Michael Sonnenfeldt, Tiger 21 founder, reports that assets in stocks are down 10 percent from last year, based on members'...

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