Morgan Stanley is handing over Crescent Real Estate Equities to Barclays Capital, winning forgiveness of a $2 billion loan that financed its acquisition of the real estate business in 2007.
As explained in Andrew Ross Sorkin's Too Big to Fail , Morgan Stanley received a $9 billion investment from Mitsubishi UFJ in the fall of 2008 that kept the firm from collapsing. The payment was supposed to be wired electronically, which is how most large banking transactions are done. But because it needed to be made on an emergency basis on Columbus Day, when banks in the US and Japan were closed,...
Hess (HES) was upgraded today by analysts at Morgan Stanley and the stock is now at $58.46, up $.90 (1.56%) on volume of 3,652,603 shares traded. The analysts upped HES to Overweight from Equal Weight. Over the last 52 weeks the stock has ranged from a low of $35.50 to a high of $69.74. Hess stock has been showing support around $56.39 and resistance...
Yesterday's bloodbath in the financial sector continues, but Morgan Stanley, after leading yesterday's retreat, is defying the continued downturn in the sector during Friday morning trading.
Morgan Stanley’s piece on Treasuries Priced for Perfection…for Now! is pretty bearish. The basic gist is that while the ten-year represents fair value today, because inflation expectations have become unanchored, Morgan Stanley expects the yield to rise from 3.3% to 5.5%. That’s a disaster of 1994 proportions. Obviously, given some of my recent comments, this [...]
NEW YORK (MarketWatch) -- Morgan Stanley on Friday upgraded Hess Corp. to overweight from equal-weight and lifted its price target to $75 a share from $65 a share. "We are upgrading Hess on value, oil leverage, and the return of exploration catalysts in the second half of 2010," said analyst Evan Calio. The stock offers modest upstream growth of 2.7% and a strong value proposition at current...
Morgan Stanley Downgrades TUI Travel, Thomas CookNew York TimesBy REUTERS (Reuters) - Morgan Stanley downgraded travel operators TUI Travel and Thomas Cook , citing a weaker operating environment and more expensive debt …Thomas Cook and TUI Travel slip but miners revive FTSEguardian.co.ukThomas Cook, Tui Travel cut at Morgan StanleyMarketWatchSTOCKS NEWS EUROPE-Thomas Cook falls on MStanley...
Morgan Stanley reads the tea-leaves post-Bernanke's speech on Monday, and basically says there's nothing to worry about. Intervention not imminent . We believe that a key reason why policymakers have not translated their talk into action is that the USD decline has been orderly and backed by fundamentals. In Bernanke’s speech, he characterizes the USD moves as a ‘retracement’ from...
LONDON (MarketWatch) -- Tui Travel was downgraded to equalweight from overweight at Morgan Stanley while Thomas Cook was downgraded to underweight from equalweight at Morgan Stanley. The broker said that it cut forecasts for the firms to reflect a weaker operating environment and more expensive debt financing. "Thomas Cook appears to us to have the most forecast risk as it has above-average margins...
The chief executive of one of America’s biggest banks admitted that Wall Street could not be trusted to do the right thing and needed tougher regulation.
Morgan Stanley CEO John Mack appears to have no problem financial regulators. In fact, Mack, speaking at a financial journalist panel held by http://www.bloomberg.com/apps/news'pid=20601087&sid=aWrIZEzc5yNc last night, said that banks "cannot control ourselves." "We have probably 15 to 20 fed regulators in our building every day," said Mack. What does Mack think of that? "I...
GSI Commerce (GSIC) shares have received a lift from Morgan Stanley analyst Scott Devitt, who today upped his rating on the shares to Overweight from Equal Weight, lifting his price target to $26, from $22. Devitt writes that the company “has hit an economic return inflection point,” asserting that the company [...]
AllThingD claims AOL has hired Morgan Stanley and Allen & Co. investment bankers to sell ICQ. The company is reportedly trying to get $300 million from the sale of the instant messaging client, which it bought for $287 million in 1998, with another $125 million in earnouts for the team then. One source said ICQ has about 100 employees and is moderately profitable. ICQ has lost most of the glory...
Property prices are rising fast as the tech boom spreads across the country. When Farallon Capital Management, a U.S. hedge fund, and its joint-venture partner, Indiabulls, snapped up an 11-acre property in central Mumbai in March 2005 for $54.5 million an acre, the purchase was called an act of idiocy by local developers. A few months later, when the same joint venture offered $95.5 million an acre...
Back in October 2008, then US Treasury Secretary Henry Paulson met with CEOs of the 9 largest US banks. During that meeting, it was reported that Paulson required the CEOs to take TARP money whether they wanted the money or not. In May, Judicial Watch released talking points taken from official documents from those meetings. The talking points used by Paulson in that meeting include the comment that