In a research note, banking industry analyst Matthew Burnell reduced fourth-quarter earnings estimates for JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS). Burnell reduced the earning estimates for JPMorgan and Citi by about 4 percent, but sounded a much more pessimistic note on Goldman and Morgan Stanley.
Germany's SAP announced a $3.4 billion cash deal to buy U.S. Web-based software company SuccessFactors, joining the scramble among technology firms to offer cloud-computing services to businesses.
Shares in Samsung Electronics Co Ltd rose more than 2 percent on Monday after Apple Inc's bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter.
Germany's SAP announced a $3.4 billion cash deal to buy U.S. web-based software company SuccessFactors, joining the scramble among technology firms to offer cloud-computing services to businesses.
Germany's SAP announced a $3.4 billion cash deal to buy U.S. Web-based software company SuccessFactors Inc., joining the scramble among technology firms to offer cloud-computing services to businesses.
Zynga, the online gaming site partially owned by facebook, filed a revised IPO document Friday indicating plans to raise as much as $1 billion, which could be the most since Google’s 2004 offering.
The Nikkei average extended gains to log its biggest weekly advance in two years on Friday, though the mood was far from upbeat given uncertainty over whether Europe will next week manage to cobble together steps to counter the debt crisis there.
JP Morgan Chase & Co has hired former Credit Suisse Group AG executive Neil Hounslow as head of its prime brokerage in Asia-Pacific as the Wall Street bank looks to service hedge funds investing in the region.
The Nikkei average edged up Friday, with investors focused on whether the benchmark can hold above its 25-day moving average ahead of crucial U.S. employment data later in the day.
NEW YORK, Nov 30 - Facebook games developer Zynga Inc is seeking a lower-than-expected $10 billion valuation for its initial public offering, which is to be priced on December 15, two people close to the process said on Wednesday.
Zynga is expected to price its shares on December 15 in one of the most highly anticipated IPOs of the year.
E*Trade Financial Corp's chief financial officer said on Wednesday that the deteriorating economic environment spurred by Europe's debt crisis was a key reason behind the No. 3 online brokerage's decision not to put itself up for sale after its recent strategic review.
U.S. stocks rose more than 3 percent on Wednesday as major central banks acted jointly to add liquidity to the global financial system, boosting appetite for risky assets.
Morgan Stanley said it prefers exposure to gold, silver and livestock in the coming year, as such commodities perform well in a global economic slowdown.
Zynga Inc embarks on a road show to promote its initial public offering next Monday, two sources familiar with the matter said, the latest dotcom name to try and whet investors' appetites.
Zynga's road show with investors for its initial public offering will start next Monday, two sources familiar with the matter told Reuters on Tuesday.
AT&T, the No. 2 U.S. wireless carrier, may be trying to salvage its $39 billion deal to acquire T-Mobile by agreeing to sell assets to loss-ridden Leap Wireless International.
While big U.S. banks assured investors they were financially healthy during the financial crisis, they also quietly approached the Federal Reserve for more bailout money. As of March 2009, the Fed committed $7.77 trillion to rescue the financial system, which is more than half the value of everything produced in the U.S. that year. The amount dwarfed the Treasury Department's better-known $700 billion Troubled Asset Relief Program, or TARP.
Online gaming firm Nexon Co said on Monday it would raise up to 98 billion yen ($1.3 billion) in an initial public offering this month, pushing ahead with its planned listing even as a massive hacking attack threatens to dampen excitement for the stock.
Carl Huttenlocher, former Asia head of JPMorgan Chase & Co's Highbridge Capital, said he will launch a hedge fund with more than $300 million on December 1 after a delay in obtaining regulatory approval.
Shares of the Chicago-based daily deals site fell once again Friday, closing down 0.88 percent to $16.81. Shares fell as low as $16.20 earlier in the day before the price went up near market close.
The top aftermarket NYSE gainers Wednesday were: Xueda Education Group, LyondellBasell Industries, Northstar Realty Finance, Molycorp, Pioneer Natural Resources, Parker Drilling, Safeway, Southwestern Energy, Huntsman Corp and Quicksilver Resources.
