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Entries tagged "bank watch"Recession fears drag down markets, Deal StocksAs fears of a recession continue, stock prices continue to recede, and nothing, not even positive deal news, seems to be curbing selloffs. The Dow Jones Industrial Average on Friday ended a miserable week on a miserable note, losing 312.20 points to close at 8,378.95, its lowest finish in over five years. ... Bank Watch: Wachovia sends everyone into the redWith the Chicago Board Options Exchange Volatility Index soaring, and the Dow dropping almost 514.45 points or 5.69% to close at 8519.21, it should surprise no one that every firm on Dealscape's Bank Watch list was in the red at market close. The financial sector massacre was likely prompted by Wachovia Corp.'s earnings announcement. The troubled Charlotte, N.C.-based bank, which is slated to become part of Wells Fargo & Co., reported a $23 billion loss, the largest loss ever reported by a U.S. bank. - Matthew Wurtzel ... Bank Watch: Everyone in the redWith the Chicago Board Options Exchange Volatility Index soaring, and the Dow dropping almost 400 points in early afternoon trading Wednesday, it should surprise no one that practically every firm on Dealscape's Bank Watch list is in the red. It also doesn't help that Wachovia Corp. reported a $23 billion loss before the markets opened. - Matthew Wurtzel ... Bank Watch: Mixed results on down dayWith the Dow closing down 231.77 or 2.50% to 9,033.66, banks were mixed, with the largest banks feeling most of the pain. Interestingly, however, smaller regional banks National City Corp., Fifth Third Bancorp and KeyCorp fared relatively well, despite the three Ohio banks all reporting third-quarter losses. - Matthew Wurtzel... Bank Watch: Morgan in free fall as others stay in the greenDespite the volatile market, which at one point was down almost 600 points before rebounding to be down 127.28 by 10:30 a.m., most of the major banks are up in early-morning trading Friday, except for Morgan Stanley and Goldman, Sachs & Co., which are both taking a beating. Morgan is down on concerns that it may not be capitalized, and that Mitsibushi UFG may pull out of its deal to invest $8 billion in the bank. Additionally, Moody's Investors Service is reviewing its credit ratings on Morgan. Morgan's troubles are likely pulling Goldman down. Morgan was down 20% and Goldman... Banks, broader market soar on possible return of RTCThe word of the week and of the year for that matter is bailouts. First it was a big lumbering Bear, then it was a pair of faltering mortgage intermediaries, then it was a big old insurance company, and now it's bad debt ... all of it, or at least reportedly. CNBC reported that Treasury Secretary Henry Paulson is considering the formation of a government entity that will take over banks' bad debt, reminiscent of the Resolution Trust Corp. set up during the savings and loan crisis. And based on the rumor -- that, by the way, was reported... Bank Watch: Goldman, Morgan Stanley take a beatingMore worries on Wall Street as shares of investment banks Morgan Stanley and Goldman, Sachs & Co. took a plunge as speculation grows about their future as independent banks. This year stock for Goldman has dropped 45%, and Morgan's has sunk 57%. Meanwhile, commercial bank Washington Mutual Inc.'s shares are wavering as rumors circulate that U.S. federal regulators may be reaching out to Wells Fargo & Co., J.P. Morgan Chase & Co. and HSBC Holdings plc to acquired the troubled bank. - Maria Woehr Troubled Wall Street Prices at close Name Price at open Price at close Change Mkt... Is John Mack working the phones yet?As shares of Goldman, Sachs & Co. and Morgan Stanley, the remaining major independent investment banks, continue to take a beating in Wednesday morning trading, speculation about the future of Morgan Stanley begins to percolate. Last night, talk of a possible sale of Morgan Stanley began to pick up steam on CNBC.... AIG shares bleed as clock ticks on capital planAs the clock ticks on a capital raising plan for American International Group Inc., the selloff continues as the insurance giant's shares slid 21.22% to close at $3.75 on Tuesday. AIG has lost 70% of its value since its Friday close. AIG's shares fell nearly 55% by just before 5 p.m. in after-hours trading as the market gears up for the Federal Reserve's answer about its funding plan expected Wednesday morning. ... Blackstone, Fortress are countercyclicalOne of the selling points of private equity is that its returns are not linked to the stock markets, or at least that they are somewhat independent. That was certainly true this week. Amid the bloodbath in the equity markets Monday, the stocks of two private equity fund managers were sharply up: Blackstone Group LP and Fortress Investment Group LLC. ... HBOS leads European selloffBy noon, the U.S. stock market found its bearings (hold that thought?) even as investors reckoned with another day's selloff in Europe. The Dow Jones Stoxx 600 fell 2.7% to 263.50, a three-year low, and London's FTSE 100 sank 3.5% to 176.60. Before it ended the day, the U.K. index dropped below 5,000 for the first time since June 2005.... Bank Watch: Wall Street mixed as crisis continuesAs American International Group Inc. teeters on the brink and the Financial Times reports that bankrupt Lehman Brothers Holdings Inc. has agreed to sell its investment banking business to Barclays plc after all, banking stocks are mixed in Tuesday morning trading. Taking the biggest beating on the Street are the remaining independent investment banks, Goldman Sachs Group Inc. and Morgan Stanley, as questions of who is next continue to circulate. Meanwhile, commercial banks are in the green this morning led by Wells Fargo & Co., which has remained above the fray through much of the credit crisis. - Matthew... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "bank watch." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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