Wall Street – News Stories About Wall Street - Page 32

Feb 15, 2008 7:36 AM CST

Gore to Investors: Ditch Guzzlers

Costs risk market crash, he warns

(Newser) - Nobel prize-winner Al Gore yesterday urged financial leaders at a United Nations conference in Manhattan to unload their investments in businesses reliant on carbon-intensive energy. Gore likened such investments to the subprime mortgage market, warning that "the assumption you can safely invest" in business models that assume carbon is...

Time Warner Plans AOL Spin-Off

UPDATED

Feb 6, 2008 11:44 AM CST

Time Warner Plans AOL Spin-Off

New CEO also considers selling Time Warner Cable

(Newser) - In an effort to revive the company's slumping stock, Time Warner's new CEO plans to break up AOL, keeping its growing online ad properties, but unloading its increasingly obsolete dial-up Internet service provider. Operating income at AOL fell 70% in the fourth quarter, as the company continued to lose Internet-access...

European Markets Open Higher as
Asia Rallies

Feb 4, 2008 7:33 AM CST

European Markets Open Higher as Asia Rallies

Street's positive close has investors upbeat

(Newser) - European markets opened higher on the heels of a mining and technology stock rally in Asia and a positive close on Wall Street Friday, reports the AP. China's benchmark Shanghai Composite Index surged 8.1%, in part on news in state-run papers that the snow emergency in China was overblown....

Microsoft-Yahoo Draws Huzzahs From Analysts

OPINION

Feb 1, 2008 2:46 PM CST

Microsoft-Yahoo Draws Huzzahs From Analysts

Some see bid turning hostile if Yang balks at Ballmer offer

(Newser) - First reaction to Microsoft's bid to buy Yahoo for $44 billion has been generally positive, especially among Wall Street analysts. Silicon Alley Insider's Henry Blodget, an ex-analyst, quotes several who predict regulators and shareholders will have no problems with the deal. Meanwhile, New York Times blogger Steven M. Davidoff says...

Profits Burnout at Electronic Arts

Feb 1, 2008 1:08 AM CST

Profits Burnout at Electronic Arts

Game maker loses money despite soaring game sales

(Newser) - Video game sales are at an all-time high but the world's largest independent publisher of them has reported a third-quarter loss, reports the AP. Electronic Arts says the loss is down to restructuring and accounting changes. Revenue was up 17%, but the company saw its share of the market slip...

Amazon Gets Late Christmas Present

Jan 30, 2008 5:47 PM CST

Amazon Gets Late Christmas Present

Holiday shopping doubles retailer's quarterly income

(Newser) - Amazon's net income more than doubled in the fourth quarter, in part because of the retailer's sales gimmicks for the holidays, reports the Wall Street Journal. In addition, Amazon released a cheerier than expected forecast for this year's first quarter. The good news could help soothe Wall Street's nervousness over...

Investors Worry Clear Channel Sale Is Off the Air

Jan 30, 2008 3:22 PM CST

Investors Worry Clear Channel Sale Is Off the Air

Credit worries and a slumping stock price have Wall Street worried the deal is done

(Newser) - Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports....

Are Foreign Bailouts
Good for the Economy?

Jan 25, 2008 11:30 AM CST

Are Foreign Bailouts Good for the Economy?

Critics worry rush of overseas cash heralds fundamental

(Newser) - Wall Street firms, battered by the collapsing subprime market, shored by their bottom lines by selling ownership stakes to foreign governments. Although the investments represent a significant change in the US economy, they drew little public criticism and no government intervention. That reaction—or lack thereof—follows years of lobbying...

Poll: Most Expect Recession but Aren't Hurting—Yet

Jan 25, 2008 3:34 AM CST

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

No Worm in Apple, Yet
Stock Falls

Jan 22, 2008 10:23 PM CST

No Worm in Apple, Yet Stock Falls

Record-high $1.5B earnings fail to placate nervous investors

(Newser) - Despite reporting record-high earnings, Apple saw its stocks fall more than 11% after the market closed today, the New York Times reports. Apple's lowered 2nd quarter earning expectations may have sparked the drop, analysts say, unless investors are anxious about the high-end electronics market in general as the US economy...

Merrill Hauls in $6.6B Lifeline

Jan 15, 2008 6:05 AM CST

Merrill Hauls in $6.6B Lifeline

Recapitalization plans move forward as firm struggles to shake subprime debacle

(Newser) - Merrill Lynch has reached into the deep pockets of foreign investors once again, pulling in a $6.6-billion lifeline today from a consortium of investors that include Japan’s Mizuho Financial Group and the Kuwait Investment Authority, the Wall Street Journal reports. In December, Merrill received a $5-billion cash infusion...

Investigators Ask: Did Banks Withhold Info?

Jan 12, 2008 4:35 PM CST

Investigators Ask: Did Banks Withhold Info?

Banks hid risk of bundled 'exception' loans, insiders say

(Newser) - Prosecutors are probing Wall Street banks to see if they ever revealed the risky nature of certain subprime mortgage investments, the New York Times reports. Industry experts are accusing the banks of turning high-risk loans, called exceptions, into investments without divulging details to investors and credit-rating agencies. One probe, led...

Tumbling Yahoo Now a Target?

Jan 11, 2008 9:51 PM CST

Tumbling Yahoo Now a Target?

Rumors of Microsoft takeover still swirling

(Newser) - Yahoo's falling core value threatens the company's future and is ringing alarm bells for investors, the New York Times’ Saul Hansell warned in his "Bits" blog. The central business of Yahoo.com, excluding subsidiary holdings, is worth less than half of its current share price, and a paltry 7%...

Merrill Deal Yields $6.2B
in Capital

Dec 24, 2007 1:07 PM CST

Merrill Deal Yields $6.2B in Capital

Bank sells discounted stock to investors, sells division to GE

(Newser) - With another quarter of massive writedowns looming, Merrill Lynch today announced a deal to raise up to $6.2 billion by selling discounted stock to two investors. Up to $5 billion will come from Temasek Holdings, Singapore's state-owned investment company. The other $1.2 billion comes from money managers Davis...

Goldman Sachs Awards CEO $68M Bonus

Dec 21, 2007 8:07 PM CST

Goldman Sachs Awards CEO $68M Bonus

Blankfein nets huge payday after bank avoids subprime tank

(Newser) - 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...

Classmates.com Fails to
Score IPO

Dec 13, 2007 1:07 AM CST

Classmates.com Fails to Score IPO

Company losing popularity contest to Facebook, analysts say

(Newser) - Classmates.com received an early dismissal today after its owners withdrew a planned IPO for the social networking site. United Online cited turbulent market conditions, but analysts say the real reason is waning popularity of the site and its overpriced offering. The interest in IPOs is there, one analyst explained,...

Death Airs Hedge-Fund Excesses

Dec 5, 2007 3:00 PM CST

Death Airs Hedge-Fund Excesses

Drowning unleashes rumors of coke binges, male strippers and murder

(Newser) - The legal wrangling that has followed the September death of hedge fund manager Seth Tobias in his Florida swimming pool is sensational enough, the New York Times reports—his wife says he drowned; Tobias' brothers accuse his wife of murder—but details of the high living bankrolled by high finance...

New 'Petascale' Computers Will Speed Up Science

Dec 3, 2007 11:53 AM CST

New 'Petascale' Computers Will Speed Up Science

Machines accelerate advances in climate change, geology, drug development research

(Newser) - A new generation of "petascale" supercomputers capable of 1,000 trillion calculations per second—about twice the current standard—will start running next year, and the power could not only accelerate scientific discovery but also change the scientific method itself, the Washington Post reports. "We can now do...

Computers Thin Ranks of NYSE Floor Traders

Dec 3, 2007 9:38 AM CST

Computers Thin Ranks of NYSE Floor Traders

Iconic backdrop 'dead' as shares trade electronically

(Newser) - The famously frenetic NYSE trading floor is rapidly becoming history as more efficient computer trading replaces human traders. With most of the exchange's trading rooms shuttered, only two trading halls stay open to the 1,500 remaining traders, whose numbers are dwindling, AFP reports. "The floor as we knew...

No-Frills Chain Has CEO
to Match

Dec 2, 2007 9:05 AM CST

No-Frills Chain Has CEO to Match

Costco's Jim Sinegal wins loyalty of his workers, customers

(Newser) - With his hot-dog lunches, second-hand desk, and disdain of ties, Jim Sinegal of Costco is not your typical Fortune 500 CEO. But the 71-year-old's steadfast devotion to the company's no-frills business plan and generosity to employees has helped make Costco a formidable player in the retail business, writes the Seattle ...