Wall Street

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Reality Bites Wall Street Whiz Kids
Reality Bites Wall Street Whiz Kids
Aug 21, 2007 4:48 PM CDT

Reality Bites Wall Street Whiz Kids

Quant fund eggheads screwed up just as badly as everyone else

(Newser) - The eggheads who run Wall Street's "quant funds," using complex algorithms to play the markets but neglecting the human element, screwed up as badly as everyone else during the Dow's recent dive. "They are very smart in front of a textbook but not smart enough to understand...

Buffett Turns Wall Street's Frown Upside Down

Star investor hunts for lucrative bargains

(Newser) - Wall Street may be seeing red after weeks of volatility and losses, but Warren Buffett is seeing green as he goes bargain-hunting for the same kind of junk bonds and stocks that have netted him nearly $50 billion, the Journal reports. Downtrodden deal-makers are hoping the star investor will use...

Trib Deal Could Come Undone
Trib Deal Could Come Undone
Aug 20, 2007 3:21 PM CDT

Trib Deal Could Come Undone

Wall Street unsure of Zell takeover will go through

(Newser) - The Tribune Company’s shareholders are meeting tomorrow to approve Sam Zell’s $8.2 billion takeover, but whispers persist on Wall Street that the deal will crumble. A disappointing stock price, concerns about the fading newspaper business, and a sagging credit market have convinced some analysts that Zell’s...

Consumer Confidence Plummets
Consumer Confidence Plummets
Aug 17, 2007 5:37 PM CDT

Consumer Confidence Plummets

Wall Street woes might be spreading to Main Street

(Newser) - Consumer confidence dropped dramatically in August, according to the latest index released by Reuters and the University of Michigan. The metric places consumer sentiment at 83.3, the lowest reading of the year, and well below the predicted 88.0. It may be a sign that chaos on Wall Street...

Fed's Cut Flips Markets Upwards
Fed's Cut
Flips Markets Upwards
Aug 17, 2007 4:46 PM CDT

Fed's Cut Flips Markets Upwards

But credit debacle undergirds even gains, analysts warn

(Newser) - Markets surged upwards today after the Fed cut its discount rate, thanks to a flurry of short-covering aided by today's options expiration. The Dow was up for the first time in over a week, jumping 233.30 to close at 13079.08. But many experts warn that the rally could...

Nasdaq Debuts $100M Fat Cat Exchange

High-rolling private bourse will be free from federal regulation

(Newser) - Nasdaq is launching a regulation-free private stock market for the super-rich, offering those who can pony up at least $100 million access to the first-ever private investment exchange. Any private company can then sell stock to these elite shareholders, without having to worry about making their finances public—or being...

Fed Stands Pat on Prime Rate
Fed Stands Pat on Prime Rate
Aug 7, 2007 2:30 PM CDT

Fed Stands Pat on Prime Rate

Central bank's top priority remains curbing inflation

(Newser) - The Fed today kept its benchmark interest rate steady at 5.25%, despite concerns that tightening credit will lead to an economic downturn. It's the ninth consecutive time the Fed has left the prime rate unchanged, the Times reports, and a sign that Ben Bernanke's top priority is curbing inflation...

Builders' Loans Pushed Credit Meltdown

Peddling dubious mortgages to move properties helped burst bubble

(Newser) - In the ongoing post-mortem of the housing boom, BusinessWeek turns an acute eye on developers, especially big, publicly traded builders who jumped into the mortgage business to move people into their newly built houses faster. As demand for new homes began to fizzle, they kept sales brisk by offering adjustable-rate...

Battered Bear Tries to Act Bullish
Battered Bear Tries to Act Bullish
Aug 4, 2007 2:06 PM CDT

Battered Bear Tries to Act Bullish

Wall Street's anxieties force Bear Stearns to make major changes

(Newser) - The securities firm Bear Stearns will oust its stocks and bonds trading chief, the WSJ reports, and soften its emphasis on short-term trades. The extraordinary moves come in the wake of Friday's market sell-off, partly triggered by investor concern about Bear Stearns after the collapse of two of its mortgage-bond...

Jobless Rate Rises While GDP Rebounds

Economic growth balances looming threat of inflation

(Newser) - The unemployment rate increased slightly in the second quarter, but the GDP recovered after a lackluster first quarter, providing Wall Street with a mixed report card of the nation’s economy as the Fed meets to determine interest rates. Unemployment ticked up 0.1% to 4.6%, hastened by losses...

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.

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