October 9, 1988 |
In the days after the Oct. 19 stock market crash, Merrill Lynch & Co. faced almost as big a crisis among its own traumatized brokers as it did in trying to restore clients' confidence in the market. "We were dealing with a situation where a large part of the sales force was demotivated or demoralized," says David H. Komansky, senior vice president in charge of the firm's nationwide retail network. Many brokers had never experienced anything but the unprecedented bull market of the 1980s.
April 5, 1998 |
The corporate symbol emblazoned across the newspaper ad--a pyramid with a stylized sun rising behind it--would be immediately recognizable to many American investors. But in Japan the typical small investor is only now being introduced to the Fidelity Investments logo--and to Fidelity's menu of mutual fund choices. "A New Era of Investing Begins With Fidelity," the ad proclaims.
December 5, 1992 |
Debbie and Ross Goldberg have long invested in the shares of small companies for one simple reason: They can buy some of those stocks cheap. With just a few thousand dollars, the Goldbergs can buy several hundred--sometimes even a few thousand--shares of a little company. If the company does well, the Woodland Hills couple make a killing. Ralph Feldfeber, on the other hand, is a new entrant into the small-company stock market.
October 25, 1997 |
Hong Kong stocks rebounded strongly Friday from their four-day free fall, but there was no celebration on Wall Street, where investors dumped big-company stocks for the second straight day. The Dow Jones industrial average dropped 132.36, or 1.7%, to 7715.41 after a strong morning rally fell flat. That loss was on top of a 186-point tumble Thursday. Especially hard hit in Friday's selling were the shares of semiconductor companies.
April 12, 1995 |
Two underwriters of highly speculative stock deals are changing their names. Coincidentally, both have had to contend with the stigma of disciplinary action by securities regulators. For investors, it may be OK to forgive--but maybe not so wise to forget. Thomas James Associates, a Rochester, N.Y.-based penny stock broker that has had several run-ins with regulators since 1989, merged two weeks ago with H.J. Meyers of Beverly Hills.
February 15, 1990 |
Drexel Burnham Lambert's slow dissolve in the acid bath of liquidation provides more than just a juicy 1980s allegory of greed, hubris and excess. It offers crucial insights into the underlying challenges of managing innovation and how the most successful innovations can lead to the most spectacular disasters.
October 29, 1997 |
Wall Street staged one of the most dramatic rebounds in its history Tuesday as the Dow Jones industrial average soared 337.17 points, its largest point increase ever, amid stock trading volume that handily blew past all previous records and severely taxed computerized trading systems around the country. The Dow's gain, a 4.7% surge that took the widely watched index of 30 blue-chip stocks to 7,498.32, recouped 60% of Monday's record 554-point rout.
March 13, 1993 |
In a Darwinian industry notorious for burning out executives and destroying weak firms, Sanford I. Weill has proven tremendously resilient. While other Wall Street chieftains and deal makers rose and fell, the 59-year-old Weill has continued to reshape the competitive landscape in the securities industry for three decades. Though his profile had been lower than usual the last eight years, Weill on Friday staged a remarkable return to center stage.
February 11, 1999 |
Top Wall Street players expressed broad support Wednesday for a bill to overhaul the Depression-era banking laws even as a new rift opened up among lawmakers. Leaders of the banking, securities and insurance industries coalesced around H.R. 10, legislation resurrected from last year's Congress that would allow one-stop shopping for a host of financial services. "The outstanding issues are few and resolvable," David Komansky, chairman and chief executive of Merrill Lynch & Co.
January 27, 1999 |
The sky-high stock market, which rallied again on Tuesday, is getting support from an important source: corporate earnings. At the midway point of the 1998 fourth-quarter profit reporting season, market watchers say they're pleasantly surprised by the numbers so far, though hardly giddy. "This is encouraging but not conclusive," said Marshall Acuff, equity strategist at brokerage Salomon Smith Barney in New York.