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Stories related to: Morgan Stanley

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  • June 2008

    • Oil, Earnings Woes Key Retreat

      newser  |  MarketWatch  |  Jun 18, 08 3:34 PM CDT

      Oil, Earnings Woes Key Retreat

      The markets retreated today, battered by the familiar convergence of high oil prices and poor business performance, MarketWatch reports. Amid signs of broader malaise, financials dropped, and crude again topped $135 per barrel. The Dow fell 131.24 to close at 12,029.06. The Nasdaq lost 28.02 to 2,429.71, and the S&P 500 lost 13.12, settling at 1,337.81. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Lehman Brothers  • Morgan Stanley  • energy prices  • FedEx  • Fifth Third

    • Morgan Stanley Profits Fall 57%

      newser  |  Bloomberg  |  Jun 18, 08 8:00 AM CDT

      Morgan Stanley Profits Fall 57%

      Morgan Stanley profits were sliced in half this quarter, the company announced today, as stock slingers failed to offset real estate writedowns. The 57% drop, which brought earnings to $1.03 billion or $0.95 per share, was in line with analyst expectations. CEO John Mack said that thanks to “careful management of our capital, risk and liquidity” the US' second-largest investment bank isn't in danger. More »

      Tags

      corporate earnings  • bank  • quarterly earnings  • Morgan Stanley  • investment bank

    • Cramer: Never Seen Wall Street This Bad

      newser  |  New York  |  Jun 16, 08 12:02 PM CDT

      Cramer: Never Seen Wall Street This Bad

      While he steers clear of the Great Depression, everything else is fair game as reference in James J. Cramer’s apocalyptic appraisal of Wall Street for New York . In Cramer's 25 years, he's seen lots of implosions, but this one is different: With thousands of layoffs at major shops, and billions more in write-offs expected, he sees no place for canned employees—or investors—to flee. More »

      Tags

      Wall Street  • subprime crisis  • Bear Stearns  • finance  • Lehman Brothers  • Morgan Stanley  • opinion  • JPMorgan Securities

  • March 2008
  • February 2008
  • January 2008
  • December 2007

    • In Need of Cash, Banks Looking to Sell

      newser  |  Wall Street Journal  |  Dec 28, 07 7:48 AM CST

      In Need of Cash, Banks Looking to Sell

      Still in need of cash, as subprime writedowns continue to maul bottom lines, US and European banks are selling off or shuttering non-critical assets. They've already sold stakes to foreign investors and borrowed from central banks; now it's time for the yard sale, as the Wall Street Journal puts it. Citigroup and the UK’s HSBC, among others, are primed to sell. More »

      Tags

      subprime mortgages  • Citigroup  • Merrill Lynch  • UBS  • Morgan Stanley  • HSBC

    • Goldman Sachs Awards CEO $68M Bonus

      newser  |  MarketWatch  |  Dec 21, 07 8:07 PM CST

      Goldman Sachs Awards CEO $68M Bonus

      Goldman Sachs gave CEO Lloyd Blankfein a $67.9 million bonus for 2007, believed to be one of the largest such payouts in history, MarketWatch reports. The bonus includes $26.8 million in cash and $41.1 million in stocks. Goldman succeeded this year while rivals foundered in the subprime morass; CEOs at poor-performing Morgan Stanley and Bear Stearns did not receive bonuses for 2007. More »

      Tags

      Wall Street  • Goldman Sachs  • Morgan Stanley  • CEO  • investment bank  • bonuses

    • Merrill Lynch Seeking $5B Cash From Singapore

      newser  |  Wall Street Journal  |  Dec 21, 07 7:49 AM CST

      Merrill Lynch Seeking $5B Cash From Singapore

      Facing a fourth-quarter writedown of an estimated $8 billion in subprime paper, Merrill Lynch is negotiating with Singapore’s state-owned investment fund Temasek Holdings for a $5-billion cash infusion, the Wall Street Journal reports. If the deal goes through, Merrill would join several other Western financial institutions bailed out by Asian or Mideastern governments since November. More »

      Tags

      subprime mortgages  • Merrill Lynch  • UBS  • Morgan Stanley

    • Morgan Stanley CEO Feels Heat

      newser  |  Wall Street Journal  |  Dec 20, 07 11:37 AM CST

      Morgan Stanley CEO Feels Heat

      When John Mack became Morgan Stanley’s CEO in 2005, he told the company to take more risks. “You’ve lost your swagger,” he told his traders. Now, after several questionable moves and yesterday's staggering $9.4 billion writedown, swagger isn’t looking so hot—and Mack could be sent packing, the Wall Street Journal reports. More »

      Tags

      subprime mortgages  • Morgan Stanley  • CEOs  • John Mack  • Zoe Cruz

    • Morgan Stanley Stuns With $9.4B in Writedowns

      newser  |  Wall Street Journal  |  Dec 19, 07 8:10 AM CST

      Morgan Stanley Stuns With $9.4B in Writedowns

      Morgan Stanley, the nation's second-largest investment bank, lost $3.59 billion this quarter, its first loss ever, after taking a whopping $9.4 billion in writedowns on mortgage-backed securities. CEO John Mack, who promised to give up his 2007 bonus as penance for the losses, also announced a $5-billion cash infusion from China Investment Corp., the investment arm of the Chinese government, for a stake of 9.9% of the company. More »

      Tags

      subprime mortgages  • mortgage backed securities  • earnings reports  • Morgan Stanley  • writedowns  • John Mack

    • Markets Rally After Early Swoon

      newser  |  Wall Street Journal  |  Dec 13, 07 3:43 PM CST

      Markets Rally After Early Swoon

      Thanks to two pieces of unexpectedly good news today, the markets erased early losses, the Dow climbing 44.06 to 13,517.96 after dipping to almost 13,350 this morning. Retail sales in November increased 1.2%, twice what watchers had estimated. And wholesale prices had their biggest one-month jump since 1973, a 3.2% rise nearly doubling estimates, the Journal reports. Both numbers suggested economic strength. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • Merrill Lynch  • retail sales  • Lehman Brothers  • Morgan Stanley

    • Morgan Stanley Warns of Recession

      newser  |  Daily Telegraph (UK)  |  Dec 12, 07 6:11 PM CST

      Morgan Stanley Warns of Recession

      Morgan Stanley is warning that the US is headed to a recession, the Telegraph writes, indicating today that factors such as the continued housing slump and high cost of borrowing will lead to decreased demand and a “perfect storm” for consumers. A partial freeze on subprime mortgages and expected cuts in interest rates will only soften the blow. More »

      Tags

      US economy  • recession  • housing market  • Morgan Stanley

    • Struggling Citi Names Pandit CEO

      newser  |  Bloomberg  |  Dec 11, 07 2:19 PM CST

      Struggling Citi Names Pandit CEO

      Citigroup today named Vikram Pandit its new CEO. The current head of private-equity and hedge-fund investments will be charged with leading the bank's recovery from staggering losses in the subprime collapse and a 38% drop in its share price this year. The ex-Morgan Stanley president joined Citigroup in April; he replaces Charles Prince, forced out last month. More »

      Tags

      Citigroup  • Morgan Stanley  • Charles Prince  • Robert Rubin  • Vikram Pandit

    • Stocks Fall on Credit Worries

      newser  |  Bloomberg  |  Dec 4, 07 3:39 PM CST

      Stocks Fall on Credit Worries

      Stocks fell again today after JPMorgan Chase predicted that profits would drop at big brokerages. Meanwhile, lower oil prices lowered earning prospects for energy companies, reports Bloomberg. "Until credit loosens up, you can't get a solid footing in the market," says a manager. The Dow was down 65.84 to 13,248.73, the Nasdaq 17.3 to 2,619.83, and the S&P 500 9.63 to 1,462.79. More »

      Tags

      stock market  • Federal Reserve  • Merrill Lynch  • JPMorgan Chase  • Goldman Sachs  • Lehman Brothers  • Morgan Stanley  • Exxon  • Chevron

    • Financials Drag Dow Down

      newser  |  Bloomberg  |  Dec 3, 07 3:38 PM CST

      Financials Drag Dow Down

      Bad news in the financial sector today meant the first bearish day for the market in five sessions, as Deutsche Bank’s negative prediction for fourth-quarter earnings pushed Morgan Stanley, Merrill Lynch, and Lehman Brothers downward. The Dow fell 57.15 to 13,314.57, the Nasdaq slid 23.83 to 2,637.13, and the S&P 500 lost 8.72 to close at 1,472.42. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • Henry Paulson  • Merrill Lynch  • Lehman Brothers  • Morgan Stanley  • Deutsche Bank  • home builders

  • November 2007

    • Morgan Stanley Dumps Cruz Over Subprime

      newser  |  Wall Street Journal  |  Nov 30, 07 8:51 AM CST

      Morgan Stanley Dumps Cruz Over Subprime

      Morgan Stanley co-president Zoe Cruz has joined the ranks of subprime casualties, after the broker suffered $3.7 billion in mortgage-related losses in the first two months of the fourth quarter. Insiders said her leadership style and her 2005 backing of unpopular CEO Philip Purcell, who eventually was ousted, also contributed to her firing, the Wall Street Journal reports. More »

      Tags

      subprime mortgages  • Wall Street  • Morgan Stanley  • Zoe Cruz

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