"Wallstreet" Reader

"Wallstreet" Reader

Fund Managers Juiced About Energy Stocks

Posted: 12 May 2011 07:14 PM PDT

Energy stocks proved something of a favorite among hedge-fund managers at the SkyBridge Alternatives Conference, known as SALT, amid the downdraft lately in commodities.

Greek Woes Spur Tough Options

Posted: 12 May 2011 08:03 PM PDT

A senior IMF official said debt restructuring would provide no miracle cure for Greece's debt crisis, as a delegation of European and IMF officials continued to pore over the Greek government's finances in Athens.

'Fair Value' Guidelines Tweaked

Posted: 12 May 2011 05:12 PM PDT

Accounting rule makers tweaked guidelines for valuing assets based on market prices, a move that will bring U.S. and international accounting rules closer and require firms to disclose more about how they value their most exotic assets.

Asia Mostly Lower; Seoul Trims Losses

Posted: 12 May 2011 07:08 PM PDT

Asian stock markets were mostly lower as China's latest tightening move on Thursday curbed demand, while shares in Seoul trimmed their losses after the Bank of Korea surprised markets by holding rates steady.

Company Lawyers Sniff Out Revenue

Posted: 12 May 2011 05:30 PM PDT

Major companies, including Ford, Tyco International and Michelin, are warming to a new way of generating revenue: suing for it.

Questions Surround Rajaratnam Defense Strategy

Posted: 12 May 2011 08:05 PM PDT

Summing up his defense of Raj Rajaratnam, attorney John Dowd tried to channel Johnnie Cochran: "If it's public, you must acquit." The rhyme didn't work; the defense didn't either.

SEC Eyes Charges for Bond Players

Posted: 12 May 2011 05:09 PM PDT

The SEC is pushing hard in a probe of collateralized debt obligations and other mortgage-related products to bring charges against executives involved in selling the deals, as well as outsiders who managed the assets.

Nordstrom's Profit Rises 25%

Posted: 12 May 2011 05:25 PM PDT

Nordstrom posted a 25% increase in quarterly earnings on higher sales, while lowering its full-year outlook due to acquisition-related charges.

Cerberus Tries to Turn Page on Papermaker

Posted: 12 May 2011 05:16 PM PDT

Cerberus Capital Management, having faced high-profile setbacks during the financial crisis, now must go toe-to-toe with Wall Street rivals over the fate of a Midwestern paper manufacturer.

Videogame Sales Jump 20%; Sony Lags Competitors

Posted: 12 May 2011 05:32 PM PDT

U.S. videogame industry sales jumped 20% in April as a flood of highly anticipated titles hit the market, though sales of Sony's PlayStation 3 rose more slowly in the wake of an attack on its online videogame networks.

Bank Of Korea Holds Key Rate Steady

Posted: 12 May 2011 07:39 PM PDT

The Bank of Korea surprised the market by leaving its benchmark interest rate unchanged at 3% for a second straight month.

Frac Tech Got $3.5 Billion

Posted: 12 May 2011 05:16 PM PDT

A Temasek-led consortium paid about $3.5 billion for the 70% stake it bought this month in U.S. energy company Frac Tech.

Stakes Rise in Congress on Debt Vote

Posted: 12 May 2011 04:52 PM PDT

Republicans in the House are dismissing as meaningless the Treasury's Aug. 2 date for a default unless the nation's debt ceiling is raised, sharply raising the political and economic stakes.

Important? Not Us, Say Smaller Banks

Posted: 12 May 2011 05:58 PM PDT

The Dodd-Frank law requires regulators to impose tougher capital standards and stricter rules on banks with at least $50 billion in assets. But smaller lenders just over that mark say the rules shouldn't apply to them.

EU Panel to Affirm Location Is Private

Posted: 12 May 2011 04:10 PM PDT

A top European Union advisory body will issue an opinion this month saying that information collected by phone and Internet companies on customer locations must be treated as private.

Director of Clearing Firm Penson Resigns Amid Collateral Disclosure

Posted: 12 May 2011 03:23 PM PDT

A board member of Penson Worldwide resigned Thursday after the company's disclosure of his relationship to a large, illiquid bond position held by the company, which sent shares in the clearing-and-settlement firm to an all-time low.

Fed Proposes New Rules on Foreign Remittances

Posted: 12 May 2011 01:26 PM PDT

The Fed proposed new rules aimed at protecting consumers who send money to relatives in countries in the Caribbean, Latin America and elsewhere.

Google Nears DOJ Settlement

Posted: 12 May 2011 03:56 PM PDT

Google is close to settling a U.S. criminal investigation into allegations it made hundreds of millions of dollars by accepting ads from online pharmacies that break U.S. laws.

Romney Defends His Health Plan

Posted: 12 May 2011 04:02 PM PDT

Romney delivered an unequivocal defense of the health-care plan he championed as governor of Massachusetts.

NBC Plans New Show With Brian Williams

Posted: 12 May 2011 04:43 PM PDT

NBC is developing a new prime-time news magazine show hosted by "NBC Nightly News" anchor Brian Williams, as the network's new management attempts to buck NBC's prime-time slump.