Merrill Lynch Stories
Microsoft and Countrywide drive stock rally
Stocks rallied on Friday after Microsoft's upbeat outlook boosted the three major indexes and a profit forecast from lender Countrywide Financial buoyed the struggling financial sector. Stocks extended their gains as the weekend approached, in a sign investors are expecting the Federal Reserve to cut interest rates when it meets next week, analysts said.
Market jumps on Countrywide, Microsoft
Stocks jumped on Friday, driving the Nasdaq up 2 percent briefly and S&P 500 up 1 percent, after lender Countrywide Financial Corp. said it expects to return to profitability this quarter, easing some fears about financial sector losses.
Merrill chairman expects to be ousted: report
Merrill Lynch & Co Inc Chairman and Chief Executive Stan O'Neal has told friends he expects to be ousted by the end of the weekend, CNBC television reported on Friday.
Merrill CEO met Wachovia over merger: report
Merrill Lynch & Co. Chief Executive Stan O'Neal broached the idea of merging with Wachovia Corp. without first getting board approval, angering some members so much they considered replacements for O'Neal, the New York Times reported on Friday.
Financial shares drop amid lingering credit concerns
Financial stocks declined on Thursday as difficulties in the credit market continued to weigh on the minds of investors.
U.S. stocks fall on financial, credit market woes
U.S. stocks fell on Thursday as financial leaders such as American International Group and Merrill Lynch declined, fueling concerns that credit market losses will continue to hit financial shares.
Merrill Lynch woes stir Bloomberg speculation
Merrill Lynch & Co Inc. may look to sell its 20 percent stake in Bloomberg LP to raise capital after writing down $8.4 billion of assets last quarter, some investors have said.
Merrill could have Q4 $4.5 bln write-down: Goldman
Merrill Lynch & Co Inc, which stunned Wall Street with $8.4 billion in write-downs in the third quarter, could have to write down another $4.5 billion in the current quarter, a Goldman Sachs analyst's report said on Thursday.
Expectations for U.S rate cuts grown on housing decline, Merrill's brokerage losses
Expectations for a cut in U.S. interest rates rose on Wednesday as the housing market continued to show signs of weakness and the largest U.S. securities brokerage met with its first unprofitable quarter in nearly five years.
Housing market takes turn for the worse
The housing market took a sharp turn for the worse in September as prices tumbled and sales of previously owned homes fell to a record low, battered by rising foreclosures and tighter lending standards.
U.S. stocks fall steeply but recover
Stocks fluctuated sharply on Wednesday, first falling on reports of declining home sales and losses related to credit problems at Merrill Lynch but rising amid speculation that the Federal Reserve could lower interest rates.
Market cuts losses on rate-cut talk
Stocks recovered from deep losses on Wednesday, amid talk that the Federal Reserve would act to cut the discount rate, the same day that Merrill Lynch rattled markets with its first loss in nearly six years.
Treasuries rally on Merrill losses, weak housing report
U.S. treasuries posted strong gains on Wednesday amid speculation that the Federal Reserve may cut interest rates following bad news about dropping home sales and a troubling earnings report from U.S. brokerage, Merrill Lynch, which reported a bigger than expected loss.
Credit concerns drive shares down
Stocks tumbled on Wednesday as a steep quarterly loss at Merrill Lynch & Co. Inc. and executives' warnings about possible future problems deepened investors' concern about the credit crisis.
Safe-haven assets take brief dent from Merrill
Safe-haven assets eased from Wednesday's highs while stocks fell after U.S. investment bank Merrill Lynch posted heavy losses, which were less dire than some predictions but did not dispel investor unease over the impact of the credit crisis.
National City net sinks 80 pct, 2,500 jobs cut
National City Corp, a large U.S. Midwest bank, on Wednesday said third-quarter profit fell 80 percent, as mortgage losses mounted even after the sale of a subprime lending unit to Merrill Lynch & Co.
Merrill Lynch posts loss on $7.9 bln write-down
Merrill Lynch & Co Inc reported $7.9 billion in net write-downs for the third quarter on Wednesday as shaky risk management and bad bets on subprime mortgages and collateralized debt obligations triggered the company's first quarterly loss in six years. More write-downs could be on their way if the company further cuts its exposure to CDOs.
Dollar steady, yen trims gains after Merrill results
The dollar held relatively steady and the yen pared gains on Wednesday after Merrill Lynch third quarter losses were deeper than original estimates but not as bad as many traders had feared immediately before the release.
Merrill Lynch expected to post loss on credit woes
Brokerage and investment bank Merrill Lynch & Co. is expected to post a loss for its fiscal third quarter, battered by problems in the credit market.
Giant Interactive launches $800 million IPO
Chinese online game developer Giant Interactive Group Inc was set to begin marketing a U.S. initial public offering on Thursday worth roughly $700-$800 million, sources familiar with the deal said, joining a record-breaking capital-raising push by Internet firms.
JPMorgan net rises despite write-downs
JPMorgan Chase & Co Inc said on Wednesday third-quarter net income rose 2.3 percent despite $1.64 billion in write-downs on leveraged loans and collateralized debt obligations.
Oil soars to new record above $85
Oil zoomed to a new record high above $85 a barrel on Monday as a robust demand picture amid booming commodity markets and fresh geopolitical worries put tight oil supplies into sharp focus.
Burned subprime investors eye commodities for growth
Investors and fund managers bitten by the collapse in subprime mortgages are now looking for new opportunities to trade bonds linked to traditionally volatile commodity prices and risky emerging markets.
Private banking margins remain rich
While profit margins have been squeezed in every corner of the financial services industry, private banking services for the world's ultra-rich remain a reliably lucrative business.
Merrill's Big Gamble Pays Off
The investment bank chose to offer its advice to the unexpected winner of the largest banking takeover ever.
Morgan Stanley eyes India wealth
Morgan Stanley is unleashing a major drive to tap India's domestic wealth next year, hiring 100 private bankers in a bid to manage $1 billion in assets by the end of 2010.
Washington Mutual sees 3rd-qtr profit down 75 pct
Washington Mutual Inc, one of the largest U.S. mortgage lenders, said on Friday it expects a 75 percent drop in quarterly income on losses and write-downs on mortgage loans and securities.
Merrill to write down $4.5 billion
Merrill Lynch & Co said on Friday it would post a third-quarter loss after writing down $4.5 billion in collateralized debt obligations and subprime mortgage holdings.
JC Flowers, Cerberus eyeing Northern Rock: sources
Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers over a rescue bid for the stricken UK mortgage bank, as U.S. firm Cerberus also considers a move, sources familiar with the matter said.
Merrill Lynch takes 5.1 pct stake in Munich Re
Merrill Lynch has built a 5.1 percent voting stake in Munich Re, making it one of the two largest shareholders in the German reinsurer.