All Posts Tagged With: "MCO"
Expect Only a Dead-Cat Bounce From Financials
Make no mistake, the boom in finance is over, says Bill Bonner in The Daily Reckoning.
Sure, some banks may bounce back, but they won’t again reach the dizzy profits of the last five years for a long time. During this period banks made billions in profits and bonuses by lending money to people who couldn’t pay it back. Now they are looking to the taxpayer for handouts to cover these bad loans.
So how come nobody on Wall Street has offered to pay back their bonuses?
New Bull Market or Bear-Market Trap? Investors Look to Earnings Season for Clues
Earnings season will plug along this week as reports from several banks provide the latest insight into how well the beleaguered financial-services sector is weathering the global credit-crisis storm.
U.S. Housing Starts Hit Two-Year Record on NY Technicality
Housing starts made a sizeable 11.6% jump in June, the Commerce Department announced yesterday (Thursday). However the surprising surge was explained by a change in New York City code law, rather than a true turnaround in the troubled housing market.
Possible Weekend Bailout for Freddie Mac and Fannie Mae
Speculation that the U.S. government would have to step in to bail out struggling mortgage-giants Freddie Mac (FRE) and Fannie Mae (FNM) escalated as the markets set to close for the weekend.Shares recovered slightly after Reuters reported U.S. Federal Reserve Chairman Ben S. Bernanke granted Freddie Mac and Fannie Mae emergency access to the Fed’s discount window.
Freddie Mac and Fannie Mae Rocked by Liquidity Concerns
Global Investing Roundups Wednesday, July 2nd, 2008
Countrywide Deal Closes; Expanding Manufacturing; Conduct Trouble at Moody’s; Hong Kong Holiday; Construction Spending Down for 11th Straight Month; Constellation Toasts to Profit; AT&T Drops iPhone Contract; BP Employees Ridden Out of Russia
Moody’s Downgrades Renew Financial Concerns
Moody’s Investors Service on Friday downgraded the debt rating of key bond insurers MBIA Inc. (MBI) and Ambac Financial Group Inc. (ABK), increasing expectations that more write-downs are in the offing for the U.S. financial-services sector, which has already written off nearly $400 billion in losses.
Moody’s Investors Service, subsidiary of Moody’s Corp. (MCO), downgraded MBIA to A2 from Aaa, and Ambac from Aaa to Aa. The downgrade caused MBIA shares to shed more than 13% of their value, with an 86-cent decline to close at $5.59 on Friday. Ambac shares fared a bit better, gaining 2 cents to close at $2.05.
Moody’s downgrades follow similar reductions from Standard & Poor’s and Fitch Ratings Inc.
Oil Price Soars $5 on Reduced Supply, Gas Could Head Much Higher
Crude for July delivery jumped more than $5 per barrel in New York yesterday (Wednesday) to close at $136.38 per barrel on declines in U.S. supplies and refinery activity.
Global Investing Roundups:Thursday, May 22nd, 2008
Crude Hits $133; Time Warner Spins Off Cable Unit; Boeing Jettisons 750 Workers; UBS Sells Assets to BlackRock; American Airlines’ Desperate Moves; Moody’s Big Mistake; DOJ to Sue OPEC?; BOE Holds on Inflation Fears.
Latin America Pulling Away from a Slowing U.S. Economy
Concerns about the U.S. economic slowdown are starting to blunt some of the optimism surrounding Latin American economies.
Latest News
- Bullish Signals for Macmahon Holdings Limited (ASX:MAH)2:36pm CDT
- How the Persian Gulf Will Drive the Next Big Agricultural Boom12:15pm CDT
- The 4 Best Securities to Hold in the Coming Global Recession11:43am CDT
- Charles Delvalle Says Get Ready for Deflation in Asset Prices11:01am CDT
- Global Investing Roundups Friday, August 29th, 20089:50am CDT
- Can We Take Yesterday’s GDP Figures at Face Value?7:38am CDT
- Bond King Bill Gross Wants Obama to Up the Deficit to $1 Trillion6:44am CDT
- ‘Resource Nationalism’ Threatens the Future Availability of Oil5:21am CDT
- Two Reverse ETFs Are Making a Killing in This Bear Market4:27am CDT
- Base Metals Move Higher10:49pm CDT
- Crude Pushes Higher as Gustav Threatens Gulf10:46pm CDT
- Dollar Drops10:42pm CDT
- Precious Metals Uncertain10:38pm CDT
- FDIC Braces for More Bank Failures, Expands Offices4:32pm CDT
- Global Investing Roundups Thursday, August 28th, 20083:16pm CDT
- Dow’s (DJI) Earnings Slump Will Lead to More Inflationary Policies3:10pm CDT
- Chrysler Considers Sale of Gas-Guzzling Viper1:10pm CDT
- Look Deeper Into Housing Numbers And You Will See A Different Picture1:04pm CDT
- Bank Failures Could Mean 79% Gains on XLF December 20 Puts9:32am CDT
