FEATURED NEWS

The Federal Reserve lowered its benchmark interest rate by three-quarters of a percentage point, the first time it has moved rates by that much in more than a decade, and the first time it has cut that sharply since 1982. The Fed acted in the face of severe, though not unprecedented, market turmoil and appears to have restored investor confidence, at least for now. But was the rate cut evidence that the U.S. central bank is not at the top of its game?
Use Key Codes N/ECO, N/FRX, M/FIN, I/FIS

Societe Generale, France's second-biggest bank, revealed last Thursday that an employee had managed to hide billions of dollars' worth of fraudulent trades. It ended up costing the bank more than $7 billion. The debacle, which exposed flaws in the bank's risk-management systems and severely undermined the notion that financial regulators are on top of what is going on in the world's financial centers, could end up costing Societe Generale its independence.
Use ticker 013080, Key Codes I/BNK, M/FIN, I/FIS

Apple Inc. on last Tuesday reported that its quarterly profit rose 58%, a strong performance by most any standard. But the company gave a cautious outlook and investors were unforgiving. They drove the stock down significantly pushing it much lower for the week after months of nearly uninterrupted gains.
Use ticker AAPL, Key Codes N/ERN, M/TEC, I/TEL

EXCLUSIVE INSIGHTS

AT&T might face slower going in 2008, brokerage says: AT&T Inc. is likely to be in a holding pattern in 2008, buffeted by a weaker U.S. economy, higher spending on its television service and slower wireless growth, Citigroup said last Friday.
Use ticker T, Key Codes N/ANL, N/ERN, I/TEL

McAfee gets double boost from brokers: Having shed more than one-quarter of its market value in the last three months, Wall Street seems to believe that McAfee Inc. has bottomed out. At least, that seems to be the view of analysts at Citigroup and Bear Stearns -- both of whom upgraded the maker of security software to the equivalent of buy ratings last Thursday.
Use ticker MFE, Key Codes N/STK, N/ANL, I/SOF, M/TEC

Analysts grow more cautious on big oil: Analysts are growing more cautious on big oil stocks as the sector's halo wears thin in the face of falling oil prices and fears of a recession. Although oil prices traditionally fall in the cold winter months, oil stocks have been under pressure for a variety of reasons, ranging from the growing expense of getting crude out of the ground and the difficulty of finding new reserves.
Use Key Codes I/OIL, M/ENE, I/ELC

Microsoft's antitrust issues worse than thought, says analyst: Microsoft Corp.'s troubles with European antitrust regulators may be worse than has been reported so far, according to an analyst's research note published last Tuesday.
Use ticker MSFT, Key Codes I/SOF, M/TEC

HIGHLIGHTS OF FINANCIAL SECTOR COVERAGE

Hedge-fund concerns weigh on markets: Concerns about possible problems at a large hedge fund weighed on the U.S. stock market last Friday, with experts particularly worried about so-called quant funds. However, one leading quant hedge-fund firm, Numeric Investors LLC, denied that it was facing any problems.
Use Key Codes I/FIS, M/FIN

SocGen scandal is latest sign of lax risk management at banks: The $7.1 billion rogue-trading scandal at French banking giant Societe Generale shows how lax risk management in the industry became during the recent market boom, experts said last Thursday.
Use ticker 013080, Key Codes N/ERN, I/FIS, M/FIN

E-Trade rises as turnaround plan pleases investors: E-Trade Financial Corp. shares rose more than 10% last Friday after the firm reported a $1.7 billion fourth-quarter net loss late last Thursday, but the discount broker unveiled details of a turnaround plan that was welcomed by investors.
Use ticker ETFC, Key Codes N/ERN, I/BNK, M/FIN

Bond insurers surge on hopes for bailout by banks: Shares of bond insurers surged on last Wednesday, adding fuel to a major late-session rally in the U.S. stock market, on hopes that a bailout package orchestrated by regulators will rescue the ailing industry.
Use Key Codes N/BON, I/BNK, M/FIN

ABOUT THOMSON FINANCIAL NEWS

MAKE A FRONT PAGE U.S. TAB

Access up-to-the-minute news anytime on Front Page U.S.:

1. Open Thomson ONE. Click 'File'
2. Select 'New Page'
3. In the 'Page Editor' window, double click 'Front Page U.S.'
4. Name the new page and click 'OK'

Refer to simple Key Codes (pdf) to access our exclusive news and analysis.

CONTACT US