Blue chips rose in early trading on Wednesday boosted by strong results from investment bank Morgan Stanley and Apple, but healthcare stocks weighed on the broader market.
Morgan Stanley reported on Wednesday a first-quarter profit behind strong trading results.
Morgan Stanley reported on Wednesday a first-quarter profit behind strong trading results.
For now, clients of Goldman Sachs are standing behind the bank after the top U.S. securities regulator slapped charges against the Wall Street powerhouse over its marketing of a subprime mortgage product.
Clients of Goldman Sachs are standing behind the bank after the top U.S. securities regulator slapped fraud charges against the Wall Street powerhouse over its marketing of a subprime mortgage product.
Morgan Stanley has told investors that its $8.8 billion real-estate fund may lose nearly two-thirds of its money due to bad investments, according to The Wall Street Journal, which reviewed fund documents.
Morgan Stanley Chief Executive James Gorman was not satisfied with his firm's financial performance in 2009 and believes it is time the firm begins carrying out its business plan after a make-over of key businesses.
Morgan Stanley bolstered its trading operations, reshuffled its top management and tinkered with its strategy last year, but those changes are unlikely to bear fruit when the Wall Street bank reports its first-quarter earnings.
Morgan Stanley Smith Barney is suing a former St. Louis-based brokerage manager after he defected to rival Wells Fargo Advisors last Friday.
The Treasury on Monday pledged to sell its 7.7 billion Citigroup Inc shares this year, a step that further reduces the government's influence on the banking giant.
The shares of two telecommunications equipment makers and a bank holding company blew past expectations in their stock debuts Wednesday, reviving hope for what had been a sickly market for initial public offerings.
Trading revenue at U.S. commercial banks fell 66 percent in the fourth quarter, the Office of the Comptroller of the Currency said on Friday, as uncertainty over pending derivatives legislation added to a seasonal slowdown in trading.
A Manhattan federal judge on Thursday barred the financial news service Theflyonthewall.com from issuing immediate news about analyst research from several Wall Street banks, often before recommendations are shared with clients.
Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.
A former stock loan trader at Morgan Stanley and Bank of America Corp in New York received well over $100,000 of cash kickbacks by steering orders to other brokerage firms, the U.S. Securities and Exchange Commission said in a lawsuit filed on Tuesday.
U.S. corporate borrowers amassed the most cash relative to debt on record through the fourth quarter and will likely preserve cash levels this year, supporting corporate bonds, Morgan Stanley said on Friday.
After digesting several economic data releases in the morning session, the U.S. stock market rallied to close at a modest gain.
After digesting a slew of economic data, the stock market edges higher in the afternoon session as big banks and apparel retailers emerge as market leaders.
Dow Chemical Co is selling its Styron basic plastics unit to private equity firm Bain Capital Partners for $1.63 billion.
Shares Rosetta Stone Inc surged as much as 32 percent Friday, a day after the language-training software maker posted a strong quarterly profit, as investors cheered the solid growth in its international business and the push toward a recurring-revenue model.
The Federal Reserve expects the largest U.S. banks to make progress this year in overhauling their pay practices, while acknowledging that more dramatic changes may take longer to implement, a Fed official said on Thursday.
When Matt Prendergast was laid off in 2008 after Bear Stearns collapsed, he expected to find a new job right away. With more than 20 years' experience as an investment banker, he thought he was sitting pretty.