- Merrill Lynch's $4.65 billion second-quarter loss was almost twice what analysts had predicted; the firm also wrote down an additional $9.5 billion in connection with subprime losses. [Bloomberg]
- Citigroup's posted a better-than-expected loss of $2.5 billion for the quarter, which Vikram Pandit is spinning as progress since the bank lost $5.1 billion last quarter. [NYT]
- Troubled mortgage financing giant Freddie Mac is weighing selling up to $10 billion in new shares to raise capital. [WSJ]
- AMD president and COO Dirk Meyer will succeed Hector Ruiz as the chip maker's CEO. [WSJ]
- Both Google and Microsoft issued rare disappointing earnings. [Bloomberg]
- Investors swindled by Samuel Israel III's Bayou Group are trying to recoup their losses from Goldman Sachs, Bayou's prime broker. [NYT]
- Teva is acquiring rival Barr Pharmaceuticals in a $7.46 billion deal. [WSJ]
RECENTLY
Tips?
Got something to share? Email tips@cityfile.com
Click here to have Dailyfile posts delivered to you once a day by email.
Finance
Street Talk
- Posted at 9:02AM on Jul 18, 2008
Email- Filed Under: AMD, Citigroup, Dirk Meyer, Freddie Mac, Goldman Sachs, Google, Hector Ruiz, Merrill Lynch, Microsoft, Samuel Israel III, Vikram Pandit
Digg Facebook
Comments
Sign in to post a comment.
Top Lists
Princeton trustee, Diabetic, Been to rehab, New Jersey native, Gold digger, Muscle freak, Billionaire, Buddhist, 1148 Fifth, Porsche owner, Chinese, Newspapers, Chef, Scientologist, Book publishing
