Sector Watch: Good, Bad & Ugly
Education: Good sector Shares of ITT Educational Services Inc (ESI) lifted educational stocks on Thursday after the company reported fourth-quarter earnings of $1.61 a share on revenue of $279.8 million, above Wall St estimates of $1.44 a share and $270.7 million in revenue. Shares rose nearly 11 percent to $126,73. Fellow education provider DeVry Inc [...]
Is Goldman And Morgan On Right Track ?
Goldman Sachs Group Inc. and Morgan Stanley have transformed themselves into bank holding companies. The change in status allows the last two major independent investment banks on Wall Street to take advantage of different accounting rules, gives them more access to federal funds and buys them time to stabilize their funding base by acquiring deposits. [...]
Short Attack: Lehman Dead Duck
Major U.S. stock indexes turned higher in afternoon trading Thursday afternoon, in an excessively volatile session focused on Lehman Brothers (LEH) fight for survival, and trader attacks on Merrill Lynch (MER) and Washington Mutual (WM). Indexes turned higher amid market buzz that troubled investment bank Lehman, which is fighting for survival, is looking for a [...]