The Ticker


September 2008


The Economy: Getting Weaker

By |

Sunny pundits were chanting a special number over the past few months: 3.3 percent.

That's how fast the economy grew in the second quarter from a year ago. Except it didn't. Today, revisions to the data show gross domestic product grew more slowly, at an annualized 2.8 percent rate. Upward ...

Read More

TAGS:
economy
GDP
consumers

Fortress Likes Financials

By |

Private-equity firm Fortress Investment Group (FIG) says it won't pay a third-quarter dividend so it can invest in...the financial sector.

"Given the significant dislocations in the world's financial markets, we see tremendous opportunities for the firm to invest capital and to grow and diversify ...

Read More

TAGS:
stock market
stocks
Wall Street

Goldman, Buffett, and Congress

By |

Warren Buffett's $5 billion investment in Goldman Sachs stock and his nod of approval for the Treasury Department's bailout plan offer one vote of confidence for the markets. The Oracle of Omaha told CNBC he describes the threat as an "economic Pearl Harbor" that makes a government bailout ...

Read More

TAGS:
Congress
Goldman Sachs
Buffett, Warren
Treasury Department
stock market
stocks
Wall Street
Bernanke, Ben
Paulson, Henry
Federal Reserve

Requiem for Investment Banks

By |

The market's loss of confidence in the abilities of broker-dealers to stay independent marks a historic moment on Wall Street. The end of independence for its most storied names concluded Sunday night when Goldman Sachs and Morgan Stanley asked to be regulated like other banks (i.e. they'll need ...

Read More

TAGS:
banking
investing

Who's (Still) to Blame

By |

Talking heads are screaming about "naked" short sellers driving down the banks, but don't believe it. Naked shorts may shave off some points, but the blame still lies with the same few culprits:

1) The banks themselves. Investment banks, by nature, are supposed to be the best risk managers in the ...

Read More

TAGS:
SEC
banking
Wall Street

Stocks After Lehman

By |

Investors watched their portfolios shrink in the aftershocks of today's wrenching news out of the banking sector. The collapse of Lehman Bros., Bank of America's surprise buyout of Merrill Lynch, and further uncertainty surrounding American International Group, America's largest insurer, has Wall ...

Read More

TAGS:
stocks
Lehman Brothers

Lehman's Long Weekend

By |

Now that weekend bank trouble is becoming as common an event as football or church, will Lehman Brothers ( LEH) be gone by the time world markets open late Sunday?

A fire-sale buyout looks likely, since Treasury Secretary Henry Paulson is reportedly "adamant" that government money won't be used ...

Read More

TAGS:
Lehman Brothers
banking

Spotlight on Lehman's Fuld

By |

"I feel like I'm playing whack-a-mole every day."

That's the WSJ's lead quote reportedly uttered by Lehman Bros. boss Richard Fuld as he struggles to keep his 158-year-old investment bank from sinking, and his job intact.

Neither is certain, even after Wednesday's announcement that Lehman ...

Read More

TAGS:
banking

Beer and Globalization

By |

Who knew beer would be the poster child for globalization's angst-filled march in 2008?

First up: Bud Light, the world's bestselling brew, might have lost its crown...to a Chinese rival.

From the WSJ:

Market watchers say Snow Beer, the product of a joint venture between London-based ...

Read More

TAGS:
global economy
food and drink

Lehman Gives In

By |

It's been a long slog for Lehman Brothers ( LEH), as criticism of CEO Richard Fuld mounts because of concern over the 158-year-old bank's capital position. Trouble culminated in today's announcement that the bank will post a $3.9 billion loss in the third quarter. That's $5.92 a share, far higher ...

Read More

TAGS:
stocks
banking

Bill Gross's Best Day Ever

By |

Shareholders of Fannie Mae and Freddie Mac may have lost out Monday, but there's always somebody who makes money when news like their government takeover hits.

That's why yesterday we asked this question: Who has been buying up the mortgages that the government is now going to invest in?

Read More

TAGS:
bonds

The Dollar's Day

By |

The dollar is back to its highest levels this year against the euro ( chart) and other currencies, and that means it might be time to take a fresh look at investing in America.

Richard Bernstein, chief investment officer of Merrill Lynch, outlines the shift:

The phrase "the US dollar is ...

Read More

TAGS:
global economy
economy
money

The Dow's Dive

By |

The Dow sank 300 points today, or 2.6 percent, more than reversing the bullish start to the holiday week.

Miller Tabak strategist Peter Boockvar says investors finally wised up that the recent drop in oil prices is really not a reason to celebrate. "Over the last week, we've seen the flip side of ...

Read More

TAGS:
Dow Jones Industrial Average
stocks

Google's Chrome

After a two-year development, Google Chrome is out in more than 40 languages.

Citi's Mark Mahaney asks and answers: Is there room for another browser?

Sure, as evidenced by the fact that Firefox has over the past few years grown to gain close to 20% market share, despite being at a ...

Read More

TAGS:
Google
Microsoft
internet
software