Fitch Downgrades Big Three Aussie Banks

The ratings agency Fitch has cut the credit rating of three of the big four Australian banks by a notch to AA-minus largely as a result of their heavy reliance on offshore borrowing to fund their lending book. Fitch cut the ratings of Commonwealth Bank of Australia (CBA.AX), National Australia [...]


Madison Square Garden's Stock Gets Lift from Linsanity

As soon as Tebowmania quieted down, a new athlete came to town and took over the airwaves and water cooler conversations: New York Knicks Jeremy Lin. As his popularity increased, it created a stir called Linsanity and it doesn't appear to be dying down any time soon. Lin's popularity has [...]


Hedge Fund Billionaire Buys Minority Stake in Mets

For any baseball fan, childhood dreams may include becoming a pro professional baseball player or owning a team. For billionaire hedge fund owner, Steve A. Cohen of SAC Advisors, he can now he say he's a minority in his hometown team, the New York Mets. Cohen, who runs the $14 [...]


Missing MF Global Customer Funds to Incite Regulatory Change

In response to the MF Global implosion, including $1 billion of missing client money, federal regulators are now looking to implement safety measures so this doesn't happen again. Next week, they'll start by having a public roundtable hosted by the Commodity Futures Trading Commission (CFTC). According to The New York [...]


S&P 500 is 9% cheaper as Profits Rise

Profits made by members of the S&P 500 are rising faster than the price of the index, which is now 9% cheaper than it was in April of last year.  The average price to earnings ratio (P/E) is now at 14 compared to 15.5 back in April. However, many investors [...]


U.S. Markets Edge Higher – Mid-Day Market News Update

 Market Action  US:  Dow: 12976.63 (0.29%), S&P 500: 1361.24 (0.26%), NASDAQ: 2948.43 (0.53%) Europe: CAC: 3447.31 (-0.00%), DAX: 6809.46 (-0.51%), FTSE: 5937.89 (0.36%). Asia:China: 2409.55 (0.25%),Hong Kong: 21380.99 (-0.79%),India: 5483.30 (-0.40%),Japan: 9595.57 (0.43%) Metals: Gold: 1787.00 (0.89%), Silver: 35.55 (3.78%), Copper: 3.80 (-0.79%) Energy: Crude Oil: 106.85 (0.54%), Natural Gas: 2.60 (-1.51%) Commodities: Corn: 6.37 [...]


Eurozone Is Heading For Another Recession

The EU’s executive said on Thursday that the euro zone is headed back into another recession in just about three years.  The executive said that euro zone was and is unable to shake its huge debt load, which is taking a considerable toll on the region’s economy. Despite this rather [...]


Euro Zone Will Face a Tough 2012

The European Commission in its interim forecast report has warned that the European Union has yet to break its vicious cycle of debt, and the euro zone economy could be heading into its second recession in just three years, while the wider, 27-nation European Union, which generates a fifth [...]


Oakland We Have A Problem: Goldman Sachs

In the activist city of Oakland, CA, unhappy residents on Tuesday night shared their discontent with the city's bond debt deal with Wall Street powerhouse Goldman Sachs. Multi-colored, homemade signs could be seen at the city council meeting with language that included “Stop the Swap,” “Give the $ Back” [...]


Shell Bets on Nat Gas in Africa

Royal Dutch Shell recently bid to acquire Cove Energy for $1.56 billion cash.  The feal comes after Shell said they were looking to expand their exposure to liquefied natural gas (LNG) in East Africa.  The deal is expected to be approved by Cove Energy’s board of directors.  Once approved, [...]


Markets Fall on Weak Manufacturing Numbers

Stocks fell Wednesday as less than stellar manufacturing numbers from Europe and China trumped good US housing numbers.  The Dow Jones was down 48 points, the Nasdaq was down 15 and the S&P 500 was down 6 points. The manufacturing reports were by Markit Economics.  Their purchasing manager’s index, which [...]


Housing at 10 Year Low

The prices of homes in January fell to the lowest point in 10 years.  However, the good news is that this low in housing has helped boost home sales.  Although there is still a number of unemployed, housing is getting to the point that we need to ask ourselves, [...]


Berkshire Hathaway Gets SEC Heads Up to Bar Shareholder Proposal

In January, the U.S. Securities and Exchange Commission (SEC) told Berkshire Hathaway Inc. they had no objection if the company omitted two corporate governance proposals from its 2012 annual proxy. The proposal story started in April 2011 when an individual submitted two of them to Warren Buffet's company, asking it [...]


CME Group to Increase Holdings in Dubai Exchange

On Tuesday, CME Group Inc. (CME) announced that it increased its holdings in the Dubai Mercantile Exchange (DME) through a recapitalization plan.In restructuring DME's equity shareholding, CME Group's NYMEX division, which created DME in 2007, will increase its holdings from 25 percent to 50 percent through the agreement. Oman [...]


Gold Rises after Greek Bailout

Gold prices are up today after the second Greek bailout was agreed upon late last night by member of the Euro zone. Gold was up close to $30 to $1,756.10 this morning.Now that the Greek bailout has been signed investors can move on the next worry that is, yet [...]


Falcone’s LightSquared Hits another Roadblock

LightSquared, hedge fund manager Phil Falcone’s venture to bring a national wireless service, had hit another roadblock.  Satellite telecommunications firm, Inmarsat PLC sent LightSquared a default notice yesterday because Inmarsat says they have not received a $56.3 million payment which was agreed upon when they began their partnership. LightSquared fired [...]


Could Oil Stocks be the Next Rush?

Since the Iran confrontation began oil has been sharply higher.  In fact as of this writing, oil trades at $105, up big in the last week.  However, we could be just beginning according to Vitol, the world’s largest energy trader. Vitol believes we could be hitting $150 oil in [...]


Unhappy RBS Investment Banking Employees – Morning Update

Every morning the Street of Walls team puts out an update on market levels, today’s top stories, and active M&A deals. Today’s Top Stories:FREE HF 13F Report: Next week the StreetofWalls team will be releasing the 4Q 2011 Hedge Fund Intelligence Report, free sign-up Europe Update: no G20 agreement on extra IMF funds [...]


Economy Grows in January: Leading Indicators

Source: Pixabay The Conference Board announced today that an index of leading economic indicators rose 0.4%, showing that the US economy is finally gaining ground and expanding.  The Conference Board also commented that they expect growth to pick up this year especially in spring and summer. “This fourth consecutive gain in [...]


Vocal Insider Trading Critic Arrested

On Friday, the Federal Bureau of Investigation arrested one of the industry's most vocal critics about insider trading, research analyst John Kinnucan. He has been accused of trading corporate secrets with hedge funds for cash, reported The New York Times. What's interesting about Kinnucan is his vocal challenges about the [...]


Market News: Inflation Jumps

Market Update   Market ActionUS:  Dow: 12945.60 (0.32%), S&P 500: 1360.60 (0.19%), NASDAQ: 2950.84 (-0.31%) Europe: CAC: 3439.62 (1.35%), DAX: 6848.03 (1.40%), FTSE: 5905.05 (0.33%). Asia:China: 2357.18 (0.01%),Hong Kong: 21491.62 (1.00%),India: 5564.30 (0.77%),Japan: 9384.17 (1.56%) Metals: Gold: 1725.50 (-0.17%), Silver: 33.26 (-0.33%), Copper: 3.72 (-1.94%) Energy: Crude Oil: 103.30 (0.97%), Natural Gas: 2.70 (5.22%) Commodities: Corn: [...]


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