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Blackstone Group's earnings took a hit but not for the reasons you might think. The firm's private equity business reported strong enough revenues, $227.3 million, up 42 percent from a year ago. The... Read more...
Lost in the earnings hubub, one bright spot at Bank of America has been overlooked: wealth management. Financial News Online notes that revenues rose 24 percent, bolstered by the acquisition of U.S.... Read more...
Lehman Brothers basically matched revenue estimates, and its $1.54 earnings per share actually beat the average analyst estimate. Of course the analysts predictions were shaved down significantly... Read more...
If you're an old pro on Wall Street, the current turmoil is not that new. Standard & Poor's notes some similarities between now and 1998. The subprime mortgage woes in some ways recall the Asian... Read more...
The hardest hit of the top investment banks have been Bear Stearns and Lehman Brothers. On the surface, this seems logical. They ranked as the top two firms in mortgage-backed securities... Read more...
In its first earnings release as a public company, the Blackstone Group announced strong earnings. Earnings tripled. Revenues nearly did as well. Private equity was strong; revenues increased to... Read more...
Top investment banks by dint in part of their strong capital bases have not generally raised concerns by the big debt raters. While their CDS spreads have soared, none have been downgraded. Morgan... Read more...
This is jarring: Financial sponsor activity has generated $10 billion in investment banking revenues so far this year. That's about one-third higher than last year. So it looks like we're on track... Read more...
Financial News Online notes that it appears that 2007 could be the first year during which more of Goldman Sachs' revenues come from outside the Americas. So far this year, the gilded... Read more...
JPMorgan's trading seems to have become more efficient, according to Financial News Online. The bank's trading revenues rose by 24 percent to a record $4.1 billion, while its Read more...