News Stories

  • Traders getting comfortable with Grexit

    The trading day begins again and will end later today, but Greece goes on forever. How fed up is the trading community with Greece? I attended a hedge fund “idea dinner” last night, where roughly 15 investment professionals exchanged trading ideas, both long and short. When it came to the subject of Greece, most just

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  • In A.I.G. case, surprise ruling that could end all bailouts

    For years, critics of the bailouts during the financial crisis argued that the rescue efforts weren’t harsh enough. The chief executives of failing institutions should have lost their jobs. Shareholders should have suffered more pain. Taxpayers should have received substantial compensation for the risk they took. All that did come to pass in one case:

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  • Early voting for Jeb Bush as Wall Street bucks flow to GOP contender

    Republican candidate Jeb Bush only just formally launched his presidential bid in Miami, but his campaign has already attracted a robust roster of Wall Street donors. Supporters from the financial community include private equity executives, hedge fund managers, bankers and more, based on a CNBC analysis of fundraising gala invitations and media reports. A few

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  • Fed’s worst nightmare: The ‘ghost of 1937’

    In trying to steer the economy of 2015, the Federal Reserve is fighting the foreboding spirit of 1937. Wall Street strategists, in fact, are worried that the U.S. central bank is so cautious over not making the mistakes of a long-ago ancestor that it may miss a solid opportunity to normalize monetary policy after seven

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  • Investors eye Greece despite debt talks breakdown

      The collapse of debt negotiations over the weekend caused Greek stocks to fall more than 5 percent Monday, leading to losses of more than 1 percent on U.S. exchanges. But a small group of hedge funds continues to view uncertainty in Greece as a chance to make money. “While the ongoing negotiations are likely

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  • No damages awarded in lawsuit over AIG bailout: Court ruling

    A U.S. judge on Monday ruled the U.S. government does not owe Maurice “Hank” Greenberg and other American International Groupshareholders any damages over the company’s 2008 bailout. AIG shares traded about 2 percent higher on the day following the news of the ruling. Former AIG CEO Greenberg, through his company Starr International Co, sued the

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  • Standard Pacific-Ryland: a rare home building merger

      Home builder Ryland announced it would merge with Standard Pacific, creating the fourth largest builder by revenue. The deal is expected to close in the fall. Standard Pacific will undertake a 1-for-5 reverse stock split. After the split, Ryland shareholders will receive 1.0191 shares of Standard Pacific stock for each Ryland share. Though billed

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  • Early movers: CVS, MU, LOW, BABA, TWTR, RYL & more

    Check out which companies are making headlines before the bell: CVS Health—CVS will acquire and operate Target’s more than 1,600 pharmacies in an approximately $1.9 billion deal. The pharmacies will continue to be operated in Target stores under the CVS brand. Micron Technology—Morgan Stanley downgraded the chip maker’s stock to “underweight” from “equal-weight,” saying a

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  • The cost of a strong dollar: Billions in corporate damage

    The market knew it would be ugly. Now, it’s become clear just how much havoc the strong dollar is wreaking on corporate America. In the first three months of the year, companies in North America lost nearly $29 billion because of currency swings, according to FiREapps, a company that advises businesses on managing their currency

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  • Here’s why financials are moving higher: David Darst

    Financial stocks were the best performing sector of the week, and it wasn’t just because investors were gearing up for a rising interest rate environment, Wall Street veteran David Darst said Friday. The financials were down 2.7 percent as of April 1 but have “roared ahead” by 9.8 percent since then, according to the KBW

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