Wow, what a difference a week makes.
Last Friday, October 10th, shares of Morgan Stanley closed at $9.68. Today, October 17th, shares of Morgan Stanley closed at $19.24. That equates to just under a 100 percent return in one week.
This week has been a crazy week and with all of it’s flip-flopping, the Dow managed to end the […]
Last night, Goldman Sachs and Morgan Stanley dropped their investment bank status to convert to bank holding companies.
The conversion will allow them to access emergency funding from the Federal Reserve and replaces their regulatory body, the SEC, with the Federal Reserve. As such, both banks will be subject to more strict regulation and capital requirements.
The Fed has already extended resources typically […]
One by one, the nation’s largest investment banks are announcing plans to buy back auction-rate securities. Thick as thieves, aren’t they? ;)
Today’s announcement came from Morgan Stanley, which will buy back up to $4.5 billion worth of auction-rate securities from retail customers who purchased them before February 12th and sold the securities at a loss on or […]
Yesterday, New York Attorney General Andrew Cuomo announced that his office intends to file fraud charges against Citigroup. The charges surround Citigroup’s alleged fraudulent marketing and sale of auction-rate securities to investors.
Auction-rate securities are long term bonds sold at weekly or monthly auctions, often issued by municipalities or corporations. Citigroup is accused of marketing these long-term bonds as […]
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 […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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