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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Merrill Lynch

Merrill Lynch stories: 155 news summaries

141 - 155 of 155 Stories | << Prev 1 ... 4 5 6 7 8

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Merrill Hedging Prompts Inquiry

SEC seeks info on delayed mortgage reckoning

Nov 2, 07 7:55 AM CDT
(Newser) - Merrill Lynch, still reeling from an $8.4 billion write-down on mortgage-related losses last month, has been making deals with hedge funds that may have been calculated to keep further losses out of investors' view, the Wall Street Journal reports. The move has attracted the attention of the SEC, which... More »

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Merrill Lynch • SEC • hedge fund • credit crisis • mortgage backed securities • subprime crisis

It's Official: O'Neal Out

CEO ousted after subprime writedowns, backdoor merger talks

Oct 30, 07 10:42 AM CDT
(Newser) - Merrill Lynch CEO Stan O’Neal is retiring effective immediately, the company announced today, shocking no one. Merrill characterized the ouster as a mutual decision, but massive subprime losses and takeover indiscretions clearly marked O’Neal for the chopping block. Terms of the exit package were not disclosed, but it's... More »

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subprime mortgages • CEO • Merrill Lynch • Stan O'Neal

O'Neal Exit Package Is All That's Left

Lawyers crafting golden parachute for Merrill CEO after $8.4B losses

Oct 30, 07 4:37 AM CDT
(Newser) - CEO Stan O’Neal has leaped from the flames of Merrill Lynch after its $8.4 billion write-down last week, but nobody yet knows the size of his golden parachute, writes the Wall Street Journal. Teams of lawyers are negotiating an exit package that may exceed $160 million, reflecting 21... More »

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subprime mortgages • Merrill Lynch • Stan O'Neal

Exxon Gives Markets a Boost

Hopes for Fed rate cut, O'Neal ouster buoy stocks

Oct 29, 07 3:47 PM CDT
(Newser) - Stocks rose again today as Exxon Mobil rode record crude prices to its greatest gains in 3 weeks, Bloomberg reports. The Dow was up 63.56 to 13,870.26, the Nasdaq 13.25 to 2,817.44, and the S&P 500 5.70 to 1,540.98. Continuing... More »

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stock market • ExxonMobil • Merrill Lynch • oil price • Stanley O'Neal

Embattled Merrill Chief Stepping Down

O'Neal will announce departure; Fink leading contender for CEO

Oct 28, 07 6:53 PM CDT
(Newser) - Merrill Lynch CEO Stan O’Neal has decided to step down, the Wall Street Journal reports, after days of speculation about his likely ouster following $8 billion in writedowns for the bank, and reports that he had discussed a merger with Wachovia without board authorization. The list of potential... More »

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Wall Street • Goldman Sachs • Wachovia • Morgan Stanley • Merrill Lynch • mortgage backed securities • Stanley O'Neal • Laurence Fink • BlackRock • Gregory Fleming

Merrill Lynch Sizes Up Potential CEOs

With O'Neal headed for exit, list of possible successors grows

Oct 26, 07 4:49 PM CDT
(Newser) - With Stan O'Neal all but ousted after an $8.4 billion writedown mostly on subprime loans and an overture to Wachovia, Merrill Lynch is on the hunt for a new chairman and CEO. Candidates include BlackRock's Larry Fink, NYSE Euronext's John Thain, and in-house contender Robert McCann, Reuters reports. Sources... More »

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New York Stock Exchange • Merrill Lynch • Stanley O'Neal • John Thain • Robert McCann • Larry Fink

New Losses Wallop
Merrill Lynch

Top bank to increase total write downs
to $7.5 billion

Oct 24, 07 4:40 AM CDT
(Newser) - Merrill Lynch is to announce its third-quarter earnings today, and the prognosis is bleak: insiders are expecting the bank to report $2.5 billion in additional losses. That's over and above the $5 billion Merrill already reported earlier this month. Today's announcement of greater losses raises even more questions about... More »

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Merrill Lynch • credit crisis

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

Sep 26, 07 3:46 PM CDT
(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You... More »

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United Auto Workers • Federal Reserve • Dow Jones • General Motors • Warren Buffett • Bear Stearns • Merrill Lynch • Nasdaq • Berkshire Hathaway • S&P 500

Banks Go Dutch on ABN Buy

Royal Bank of Scotland consortium expected to succeed with hostile bid

Sep 14, 07 5:33 AM CDT
(Newser) - The race to buy Dutch bank ABN Amro is in the final stage—with a consortium led by the Royal Bank of Scotland apparently on the inside track ahead of  Barclays. The consortium has already won agreement from ABN and the Dutch government, but has yet to raise the $99... More »

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Bank of America • Barclays • ABN AMRO • Royal Bank of Scotland • Merrill Lynch • John Varley • Fortis NV • Banco Santander • Rijkman Groenink

Home Depot Deal Renovated

Price for wholesale unit slashed

Aug 27, 07 5:37 AM CDT
(Newser) - The sale of Home Depot's wholesale supply unit—threatened by the credit crisis —is going ahead after tense negotiations between Home Depot, private equity firms buying the company and banks providing the financing. Home Depot slashed its price 18% to $8.5 billion and guaranteed some of the loans... More »

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private equity • Bain Capital • LBOs • Merrill Lynch • Lehman Brothers • Home Depot • buyout • credit crisis • HD Supply • Clayton Dubilier and Rice • JPMorgan Chase

Stocks Climb Following Surprising Home Sales Numbers

Markets, optimism surge as turmoil eases

Aug 24, 07 4:27 PM CDT
(Newser) - The Dow closed at 13,378.87 today, up 142.99 on strong durable goods orders and a better-than-expected home sales forecast. The S&P 500 jumped 16.87 to 1,479.37, and the Nasdaq rose 34.99 to 2,576.69. Nucor Corp., the second-largest American steel manufacturer,... More »

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stock market • Dow Jones • Merrill Lynch • recession • Nasdaq • markets • Countrywide • Department of Commerce • Nucor Corp. • S&P 500

Banks Might Derail Home Depot Deal

Private equity threatens lawsuit as financing dries up

Aug 24, 07 7:10 AM CDT
(Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have... More »

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private equity • Carlyle Group • Bain Capital • Merrill Lynch • Lehman Brothers • Home Depot • buyout • credit crisis • JPMorgan Chase

Loan Giant Downgraded to 'Sell,' Faces Bankruptcy

Top US mortgage lender caught in the squeeze

Aug 16, 07 7:44 AM CDT
(Newser) - Loan giant Countrywide saw its shares plummet 13% yesterday after the company experienced trouble borrowing money in the market for short-term debt. A Merrill Lynch analyst downgraded the stock from "buy" to "sell," sparking talk of possible bankruptcy, reports the LA Times. Before today's open, the company... More »

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stock market • bankruptcy • subprime mortgages • Merrill Lynch • loans • US economy • home loans • credit market • Countrywide

Asian Stocks Take a Dive

Prices plunge in response to US subprime mortgage crisis

Jul 27, 07 7:52 AM CDT
(Newser) - Share prices plummeted throughout Asia  today in response to the yesterday's sell-off on Wall Street and the escalating crisis in the US housing market. After the 300-point plunge in the U.S., the Tokyo Market closed at a three-month-low, and markets in Seoul, Hong Kong, and Sydney also took serious... More »

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stock market • Seoul • Asia • housing market • Hong Kong • stocks • Merrill Lynch • Tokyo • Mumbai

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors
nix bailout plan

Jun 20, 07 7:02 AM CDT
(Newser) - Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night, and the consequences could ripple... More »

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Bank of America • Goldman Sachs • subprime mortgages • business • Bear Stearns • Merrill Lynch • hedge fund • financial crisis

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