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BANK OF AMERICA: The deal pipeline 'looks great'
The first quarter was the weakest for Wall Street dealmakers since the dark post-financial-crisis days of 2009.But according to Bank of America's top executives, that'll soon change."The simple thing...
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The biggest IPO of the year will bring over $250 million
Bats Global Markets has priced its initial public offering at $19 per share, Business Insider has confirmed.It's set to raise about $253 million, making it the largest IPO of the year.Bats — a...
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This is why none of the presidential candidates are talking about the Federal...
In an election fueled by populist anger and dominated by talk of economic insecurity, why aren’t any of the presidential candidates talking about the Federal Reserve?After nearly a decade of high...
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Citi beats!
Citigroup just reported Q1 earnings that beat expectations.The firm reported adjusted earnings per share of $1.10 on revenues of $19.7 billion.Analysts were expecting adjusted earnings per share of...
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Goldman Sachs is cutting costs big time
Goldman Sachs is looking to cut costs, big time.That's according to Bloomberg's Dakin Campbell, Aaron Kirchfeld, Manuel Baigorri, who report that the firm is pulling in the reins on bankers' travel and...
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The IPO market just got what it needs to officially lift off (BATS)
The initial public offering market may finally be able to take off again.That's because Bats Global Markets priced the largest deal of the year on Thursday, and it was a huge success.Shares of Bats,...
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A bunch of hedge fund managers got together in a room and talked about how...
On Wall Street, there are several events during the year when the Masters of the Universe get together and share ideas. One of the most important of these is The Grant's Interest Rate Observer...
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One Morgan Stanley exec is changing the way athletes think about their money
We’ve all heard the story—A star college athlete gets drafted, gets a big check, buys a bunch of stuff, takes on a lot of debt, has a career ending injury, and files for bankruptcy.It happens...
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Morgan Stanley beats, but profit dropped more than 50% (MS)
Morgan Stanley just reported first-quarter earnings that beat analyst expectations, despite a huge decline in profit.The firm reported diluted earnings per share of $0.55 on revenue of $7.88...
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The largest IPO of the year opened the door for 3 more deals this week (BATS)
Bats Global Markets' successful initial public offering last week may have given the market just what it needed to get going again.That deal when off without a hitch. It priced at the top of its range...
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Goldman Sachs whiffs, profit crashes 60% (GS)
Goldman Sachs just reported first-quarter results that missed on the top line but beat on the bottom.The firm reported diluted earnings per share of $2.68 on revenue of $6.34 billion.Analysts were...
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Goldman Sachs is willing to reinvent itself (GS)
Goldman Sachs reported pitiful first-quarter earnings on Tuesday, and now the firm is facing tough questions from analysts.Questions like "When are you going to retake control of your destiny?"On a...
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JPMorgan and a tiny boutique are advising Saudi Arabia on what could be the...
JPMorgan and the boutique bank M. Klein & Co. are advising Saudi Arabia on the initial public offering of Saudi Aramco, Bloomberg's Ruth David, Dinesh Nair, and Matthew Martin report.M. Klein &...
View ArticleTHE STORY OF GOLDMAN SACHS: From foot peddlers to a powerhouse
Today Goldman Sachs is a revered financial institution – but it wasn't always a powerhouse on Wall Street. Edward Morris, author of "Wall Streeters: The Creators and Corruptors of American Finance,"...
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Apple delayed its earnings report for the memorial service of adviser Bill...
Apple has pushed back the date of its second-quarter earnings report by 24 hours, to April 26.Previously, the conference call to discuss its results was scheduled for April 25 at 2 p.m. PT.The change...
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Wall Street's nightmare stock just filed for bankruptcy
SunEdison, the world's largest renewable-energy company, has filed for bankruptcy.This after seeing its stock slide over 90% since this summer.SunEdison's story is one of a company that used...
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Wall Street pay has crashed, and now things are getting worse
Wall Street pay already isn't what it once was.Revenues are plummeting, banks are cutting swathes of staff, and now regulators are taking steps that could mean that bank executives have to wait even...
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Saudi Aramco's $125 billion megadeal could be coming to New York
The Saudi state-owned oil mammoth, Saudi Aramco, is considering listing as much as 5% of its value on the public market.That's according to The Wall Street Journal's Benoit Faucon, who cited Ibrahim...
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Wall Street is underwater
Wall Street is sinking.The big banks had a lousy first quarter. Hedge funds are getting pummeled. Regular institutional investors are flailing.And they're all dragging each other down.Goldman Sachs CFO...
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Wall Street's 'witches brew of hockey sticks and financial engineering'
In a nearby post Jeff Snider makes a clean kill of the sell side hockey stick. Just 22 months ago (June 2014), Wall Street projected GAAP earnings of $144.60 per share for the S&P 500 in...
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