-
Market Roundup (MS, C, HLS, UBS, HBC, USB, MRK)
Friday, April 23, 2010 - 2:35pm | 252According to some sources, a troubled Morgan Stanley (NYSE: MS) real estate fund has won a 60-day extension with lenders, including Citigroup (NYSE: C). MS has to pay back about $2.4 billion in loans used in a hotel investment in Japan. UBS (NYSE: UBS) has settled a lawsuit related to a $2.7...
-
Hedge Funds Still Support Goldman Sachs (GS)
Friday, April 23, 2010 - 2:17pm | 170Beleaguered bank Goldman Sachs (NYSE: GS) may draw some solace from the fact that it still has support from hedge fund clients. According to Reuters, hedge fund managers are wary of deserting Goldman Sachs (GS). One senior London-based hedge fund source, told Reuters, “Goldman's standing is as...
-
All Is Well In Stock Land. Or Is It?
Friday, April 23, 2010 - 12:04pm | 516Since February 5th, 2010 the major market indexes have had one of the most impressive rallies in an incredibly short span, trading higher by more than 15 percent. The SPDR S&P 500 ETF (NYSE: SPY) traded as low as 104.58 on February 5th, 2010 and is now trading at 121.25. That is almost 17...
-
Market Commentary (AAPL, GS, BP, RIG, SHLD)
Friday, April 23, 2010 - 11:07am | 232According to securities law professors, Goldman Sachs (NYSE: GS) is taking a risk in fighting the SEC instead of simply cutting its losses. Goldman is most likely to lose its motion to throw out the suit as it lacks legal merit. The risks will mount, thereafter, weakening its negotiating position....
-
Company News for April 23, 2010 - Corporate Summary
Friday, April 23, 2010 - 10:00am | 322• Microsoft (NASDAQ:MSFT) reported after the close with results of 45 cents up from estimates of 42 cents versus 33 cents a year ago, with revenues up 6.2%, to $14.5 billion, versus Street estimates of $14.47 billion • Amazon (NASDAQ:AMZN) posted earnings of 66 cents versus last year's 41 cents...
-
Ecuador: Correa’s Play for Greater Influence in the Oil Sector
Friday, April 23, 2010 - 8:25am | 2000Summary Ecuadorean President Rafael Correa is pressuring foreign oil investors to change from production-sharing agreements to service contracts, or else face expropriation. Correa is looking to enhance the state’s authority over oil revenues and thus enhance his own political security, but is...
-
Ecuador: Correa’s Play for Greater Influence in the Oil Sector
Friday, April 23, 2010 - 8:25am | 2000Summary Ecuadorean President Rafael Correa is pressuring foreign oil investors to change from production-sharing agreements to service contracts, or else face expropriation. Correa is looking to enhance the state’s authority over oil revenues and thus enhance his own political security, but is...
-
Is Settling Charges With The SEC The Solution For Goldman Sachs?
Friday, April 23, 2010 - 7:13am | 144Wall Street and legal experts have begun to question whether Goldman Sachs (NYSE: GS) should settle charges made by the SEC on defrauding investors by not disclosing its role in the sale of mortgage back securities to its clients. The SEC claims that these transactions cost the clients involved...
-
ETFC’s Credit Trends Continue To Improve Gradually
Friday, April 23, 2010 - 1:56am | 114Analysts at Macquarie Capital Markets maintain their "neutral" rating on E*TRADE Financial (NASDAQ: ETFC). The target price for ETFC is set to $1.72. ETFC has posted its Q1 EPS and revenues ahead of the estimates and consensus. According to Macquarie Capital Markets, “Early-stage delinquencies on...
-
Keefe, Bruyette & Woods Raises Estimates And Price Target For Morgan Stanley (MS)
Thursday, April 22, 2010 - 3:24pm | 108Analysts Robert Lee and Aaron D. Teitelbaum at Keefe, Bruyette & Woods have released an update on Morgan Stanley (NYSE: MS). The bank reported its first-quarter results on Wednesday. Morgan Stanley reported a first-quarter EPS of $0.99. Operating EPS came in at $0.82. Analysts had forecast...
-
Market Roundup (BX, GS, CTL, Q, LCC, UAUA, CAL, AIG)
Thursday, April 22, 2010 - 2:00pm | 321Blackstone (NYSE: BX) is sticking with Goldman Sachs (NYSE: GS) as BX’s CEO Stephen Schwarzman continues to have full faith in the ethics of the financial firm. He said that he hasn't doubted the firm in 40 years of their work relationship. He added, "We’re a major client of Goldman’s and will...
-
Gold Man, Gold Bug, Golden Opportunity, Goldman Sachs (NYSE:GS)
Thursday, April 22, 2010 - 1:38pm | 1796The big news in the markets and media is Goldman Sachs (NYSE:GS), just charged with a fraud suit that alleges they didn’t disclose material information about a CDO they packaged and sold in 2008. The stock promptly sold off to the tune of 15% (down nearly $30, to $155) before rebounding to settle...
-
Gold Man, Gold Bug, Golden Opportunity, Goldman Sachs (NYSE:GS)
Thursday, April 22, 2010 - 1:38pm | 1796The big news in the markets and media is Goldman Sachs (NYSE:GS), just charged with a fraud suit that alleges they didn’t disclose material information about a CDO they packaged and sold in 2008. The stock promptly sold off to the tune of 15% (down nearly $30, to $155) before rebounding to settle...
-
Goldman Sachs (GS) Has A Slew Of Legal Challenges To Handle
Thursday, April 22, 2010 - 11:52am | 466When investigators in Massachusetts started the process of charging Wall Street firms for the financial crisis their major focus was on Goldman Sachs (NYSE: GS). According to the Washington Post, this was natural, considering that Goldman had grouped together and then sold the worst of subprime...
-
Morning Market Update (PEP, GMGMQ.PK, TM, C, GS, JPM, BAC, MS)
Thursday, April 22, 2010 - 11:42am | 365PepsiCo (NYSE: PEP) reported net income of $1.43 billion, or $0.76 a share, on revenues of $9.37 billion, marking a rise from the profits of $1.14 billion, or $0.71 a share, on revenues of $8.26 billion the previous year. Analysts surveyed by Thomson Reuters were expecting earnings of $0.75 a share...