Shares of Boeing are down over six percent after analysts at Goldman Sachs downgraded the company from “neutral” to “sell.”
High oil prices have taken a toll on the airline industry and as a result, analysts expect Boeing to see fewer orders and therefore, fewer sales dollars.
Hopefully this downgrade is valid. In early May, Goldman upgraded […]
In one of few bright points in today’s morning session, Eastman Kodak has announced plans to buyback up to $1 billion of its outstanding stock.
News of the buyback sent shares flying as high as $14.45, representing a 17 percent increase from yesterday’s close of $12.34 per share.
Buybacks usually indicate a firm’s belief that shares are currently undervalued […]
This week, Citigroup will begin to dismiss roughly 6,500 workers from its investment bank division.
Record write-downs and mounting losses have led Citigroup to engage in several cost cutting measures. The company has lost roughly $15 billion in the past two quarters. The pending job cuts will reduce Citigroup’s investment bank division by about ten percent.
Citigroup released a statement […]
The Dow sank as much as 140 points heading into mid-day, and sits below the 12,000 barrier broken earlier this week.
There could me many reasons for the decline: rising oil prices, downgrades, shaky earnings, or perhaps risky witches.
Risky witches? Yes, today is a special day for witching and in a Harry Potter-esque scene witches from all over the world have […]
This morning the cops came knocking for two former Bear Stearns managers.
Matthew Tannin and Ralph Cioffi were taken into custody as the first executives to face criminal charges in the wake of the sub-prime market meltdown.
Tannin and Cioffi face many accusations surrounding the collapse of the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund. Those […]
Morgan Stanley is the latest investment bank to post poor earnings.
Revenues were down 38 percent, profits were down 57 percent, and the bright side (if there is one) is that Morgan Stanley was able to turn a profit. For the fourth quarter of last year, the company posted its first loss ever: a whopping $3.6 billion, the result of a $9.4 billion […]
Everyone wants to blame high gas prices on someone or some group…OPEC, oil companies or the government. The latest group coming under scrutiny: oil speculators. They are catching the gas face from all angles, but do they deserve it?
Exactly what are they doing? Here’s a brief tutorial on oil trading:
There are two groups of people […]
Over the weekend, the Associated Press reported that in the midst of layoffs and rising costs, the median compensation package for chief executives in 2007 amounted to roughly $8.4 million.
Data pulled from 410 of the companies included in the S&P 500 index shows that while the economy was slowing down, the compensation for CEOs was going up… […]
Yahoo finally struck a deal with the competition!
But, not Microsoft. Yahoo execs announced the company has reached an advertising deal with Google. In a nutshell, Yahoo will be able to display Google ads with Yahoo search engine results. Yahoo reps hope the deal will bring in an estimated $800 million a year.
CEO Jerry Yang spoke of convergence and flexibility in a […]
Another one two bite the dust…
In its latest move to show commitment to fixing financial woes, Lehman Brothers relieved two of its highest ranking executives of their duties.
In recent days, spectators have been calling for the resignation of CEO Richard Fuld after the company posted a $2.8 billion loss. But, Mr. Fuld has escaped termination…at least for now. Instead, Chief […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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