Morgan Stanley

J.P Morgan (NYSE: JPM), Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS), Deutsche Bank (NYSE: DB), Citigroup (NYSE: C), Credit Suisse (NYSE: CS), and more could be opening up their pocket books to help companies in M&A action, a Wall Street Journal article reported today.

J.P. Morgan is said to be ponying up about $2.85 billion to help Denbury Resources (NYSE: DNR) as part of their takeover of Encore Acquisition Co., which ...

Riding the Range

It was a seesaw affair at the corner of Broad and Wall yesterday as the market was pushed and pulled in both directions several times in response to the news flow. The back-and-forth action reminds us of a commonly accepted principle in technical analysis that says when volatility picks up, you need to be on the lookout for a trend change.

So, with stocks heading down at the open, then reversing higher, then heading back down, then up again – only to finish with a dive into the close, this is definitely something to keep in the back of your mind.

But then again, one look at the charts makes it clear that we’ve got a consolidation pattern on our hands at the present time. And since it is also commonly accepted that a stock or index will exit a consolidation pattern heading in the same direction ...

CB Richard Ellis Group, Inc. (NYSE: CBG) 45% HIGHER; announced last night that the lenders under its credit agreement have agreed to amend certain of its terms. The changes will give the Company considerably increased financial flexibility to navigate through a weaker market environment. Click for the full report. Also, analysts at both JPMorgan and JMP Securities upgraded the stock. Here is more color on those upgrades.

Biodel Inc. (Nasdaq: BIOD) 26.2% HIGHER; announced last night that it plans to submit a new drug application to the U.S. FDA in the second half of this year for approval to market VIAject(R) for the treatment of diabetes. VIAject(R) is Biodel's investigational ultra-rapid-acting injectable human insulin intended for meal-time use by people with Type 1 and Type 2 diabetes. The NDA will be based upon results from multiple pharmacokinetic and pharmacodynamic studies as well as two completed Phase 3 studies of ...

“Take Five Everybody”

After working hard for the past two weeks to generate a rally of +21.6% in the S&P 500, it is safe to say that the bulls had earned a rest. And while our heroes in horns put up a good fight for much of the session yesterday, the playbook said Tuesday was likely to be a day for booking some profits. So, with the bulls on a break and standing aside, the sellers simply did their thing into the close.
The excuse du jour was worry over the effectiveness of the P-PIF’s. Now that the details of the plan to marry TARP funds with private money managers have been unveiled, there was a barrage of concerns from economists, strategists, analysts, and bloggers relating to the question of how well the plan will work. The primary focus of the worry was centered on the issue of trusting ...

Bad Bank On The Way?

Stocks moved up a bit yesterday on the back of some decent earnings from the likes of Texas Instruments (TXN), Travelers (TRV), Netflix (NFLX), American Express (AXP), US Steel (X), and Bristol-Myers (BMY). If you’ve been looking at our abbreviated earnings reviews each morning, you may have noted that not every earnings report is a disaster and that there are a great many companies actually making money these days. This, in and of itself, probably isn’t enough to cause much in the way of a celebration on Wall Street as almost nobody in corporate America is singing a happy song about the future. But it does help make the argument that we may be nearing a low from an economic standpoint.

However, despite the green screens and warm fuzzies derived from the earnings reports, our heroes in horns were not able to make much of ...