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Thread: Soleil

  1. #31
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Reuters

    Wall Street Jumps as Goldman Sachs and Lehman Brothers Beat Forecasts
    Caroline Valetkevitch
    Reuters
    New York, New York, U.S.
    10:25am U.S. ET


    Traders work on the floor of the New York Stock Exchange March 17, 2008. - Photo: Brendan McDermid, Reuters

    Stocks jumped on Tuesday as stronger-than-expected earnings from Goldman Sachs Group Inc's and Lehman Brothers Holdings Inc provided some reassurance about the ailing financial sector.

    All three major indexes were up close to 2%.

    Investors also looked forward to what is expected to be a steep interest rate cut from the Federal Reserve's policy-setting committee around 2:15 pm U.S. Eastern Time on Tuesday.

    Goldman and Lehman shares jumped in early trading, leading a rebound in financial stocks, which tumbled on Monday after JPMorgan Chase & Co's deal to buy struggling brokerage Bear Stearns at a rock-bottom price. A broker dealer index surged 5.9%.

    "Today's a day for good news, with Goldman and Lehman results beating estimates. Right now the focus is that these earnings weren't as bad as they could have been," said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

    The Dow Jones industrial average rose 231.78 points, or 1.94%, to 12,204.03. The Standard & Poor's 500 Index gained 28.18 points, or 2.21%, to 1,304.78. The Nasdaq Composite Index jumped 44.25 points, or 2.03%, to 2,221.26.

    Shares of Fannie Mae and Freddie Mac rose on expectations their regulator will ease restrictions on the government-chartered companies and help them increase spending in the U.S. housing market. Fannie was up 11.8% at $24.86, while Freddie Mac was up 12.3% at $23.15.

    Shares of Goldman were up 8.5% at $163.70 while Lehman was up 17% at $37.12 after reporting results that beat Wall Street estimates.

    On the Nasdaq, Yahoo Inc shares rose 4.7% to $27.07 after the Internet search company affirmed its outlook for the first quarter and full year.

    Interest rate futures show investors are fully pricing in a one percentage-point cut in U.S. short-term rates, which would take the benchmark fed funds target rate down to 2%.

    Over the weekend, the Fed made an emergency quarter-point cut to its discount rate to 3.25% and expanded lending to a wider range of big financial firms, in the first such move since the Great Depression of nearly 80 years ago.

    Data before the opening on U.S. housing starts was stronger than expected, adding further support to the market.
    Goldman, Lehman and whatman!

  2. #32
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by AP

    Morgan Stanley 1Q profit tops estimates
    Joe Bel Bruno
    Business Writer
    Associated Press
    Wednesday, 19 March 2008, 4:43 PM U.S. ET


    The Morgan Stanley headquarters is seen in New York 30 January 2008. - Photo: Shannon Stapleton, Reuters

    Morgan Stanley posted better-than-expected quarterly earnings on Wednesday, joining those from two of its rivals and indicating that Wall Street may be getting a better grip on the credit crisis.

    The nation's second-largest investment bank was able to parlay aggressive stock and bond trading into offsetting more losses linked to subprime mortgages. Morgan Stanley like Lehman Brothers and Goldman Sachs on Tuesday was also able to top Wall Street's reduced expectations by a wide margin.

    Morgan Stanley's results came during a tumultuous week. Just a few days earlier, rival Bear Stearns Cos. sold itself at a fire-sale $2 per share price to JPMorgan Chase & Co. in order to avoid declaring bankruptcy. That sent a shockwave through Wall Street as investors wondered if other investment banks might be in the same predicament.

    But the strong results from Morgan Stanley, Goldman and Lehman helped assuage fears of a wider meltdown in the financial system at least for now.

    "Fact is, like it or not, this is an inherently risky business where the returns will shift to those willing to take the most leverage," said Jack Ablin, chief investment officer of Harris Private Bank. "Expectations had us in a tailspin."

    The earnings results not only helped shares of the investment banks recover from the lows they hit Monday in the aftermath of Bear's sale, but also backed claims by the companies' chief executives that they could take advantage of the market's dislocation.

    John Mack, Morgan Stanley's CEO, said the investment house known for its trading prowess "effectively capitalized on market opportunities and aggressively managed our positions." The company had about $2.3 billion worth of write-downs linked to the credit and housing market crisis, but one of its best trading performances in history.

    Morgan Stanley wrote down about $9.4 billion during last year's second half. Global banks and brokerages have so far claimed about $200 billion worth of write-downs since last year.

    "While many of our businesses are facing challenging market conditions that we expect to continue in the months ahead, we are satisfied with how Morgan Stanley navigated the ongoing market turbulence," Mack said in a statement.

    The company said it earned $1.53 billion after preferred dividends, or $1.45 per share, down 42% from $2.66 billion, or $2.17 per share, a year earlier. Revenue fell 17% to $8.3 billion from $10 billion a year earlier.

    But the lower results easily topped analysts' expectations for a profit of $1.03 per share on $7.19 billion of revenue, according to Thomson Financial.

    Its shares closed up 59 cents at $43.45, following a 17% gain in Tuesday's market rally.

    Morgan Stanley's institutional securities business which includes investment banking and trading posted $6.2 billion of revenue. The results marked the division's third-best quarter ever.

    Meanwhile, volatility in the bond market pushed fixed-income sales and trading revenue to their second-best showing with $2.9 billion of revenue.

    Though offset by mortgage write-downs, Morgan Stanley relied on robust commodities and currency markets to drive results.

    "We believe (Goldman and Morgan Stanley) have shown their ability to trade challenging markets this quarter," said Roger Freeman, an analyst with Lehman Brothers. "There is hope that the Federal Reserve's aggressiveness will begin to unclog the fixed-income markets. ... This could push the group still higher over the next few sessions."

    Goldman Sachs, Lehman and Morgan Stanley said they began to test a new program this week that allows them to borrow directly from the central bank to help improve the financial market's liquidity. On Sunday the Fed gave investment banks permission to borrow from its discount window, which had previously been restricted to commercial banks.

    The Fed also cut the rate at which financial institutions borrow at its "discount window" to 2.5 percent from 3.5 percent in two separate actions this week.

    Though all seemed to be positive steps for Wall Street, that doesn't mean the concerns about the rest of the year have been alleviated.

    The fiscal first-quarter for the three banks ended Feb. 29, before most of the market turbulence that rocked Bear Stearns last week. Investors are also still waiting for Merrill Lynch & Co. to finish its first quarter at the end of the month.

    And then there's the biggest worry on investors' minds.

    "We remain concerned with the deteriorating economy and its impact on the results at these firms, despite (the Fed's) aid with near-term funding," said Standard & Poor's equity analyst Matthew Albrecht.
    Modern and steady!

  3. #33
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    Went to the show house and a lot of returned units!!!
    People forgoing their options? I wonder whether that will ever be published in the news?

  4. #34
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    People forgoing their options? I wonder whether that will ever be published in the news?
    That happened in Q4 07. It was published in the news. Perhaps you missed the news.

    Since Nov 07 till now, there are no more additional returned units.

  5. #35
    Unregistered Guest

    Question Re: Soleil

    If Iam correct, the 1st payment is 1% right? then second payment is 4%.

    Can someone returned the unit after they paid 5%?
    By the time they paid the 4%, i believe it is already in the caveat lodged.

    I believe those that paid 1% still can return the unit but if 4 % have been paid. units cannot be returned is it???.

  6. #36
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    If Iam correct, the 1st payment is 1% right? then second payment is 4%.

    Can someone returned the unit after they paid 5%?
    By the time they paid the 4%, i believe it is already in the caveat lodged.

    I believe those that paid 1% still can return the unit but if 4 % have been paid. units cannot be returned is it???.
    Primary sale (direct from developer)?
    - 5%
    - 15% (return unit if don't pay 15%, 75% of 5% will be refunded)
    - the remaining progressive or deferred

    Don't play this return-unit game. Nobody has been doing it since Nov 07.

  7. #37
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    Primary sale (direct from developer)?
    - 5%
    - 15% (return unit if don't pay 15%, 75% of 5% will be refunded)
    - the remaining progressive or deferred

    Don't play this return-unit game. Nobody has been doing it since Nov 07.
    If they bought from the developer they still can return the unit. What happen if they buy in the secondary market??

  8. #38
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    If they bought from the developer they still can return the unit. What happen if they buy in the secondary market??
    Secondary sale / Subsale?
    - 1%
    - 4% (return unit if don't pay 4%)
    - the remaining by completion date

  9. #39
    Unregistered Guest

    Default Re: Soleil

    Where are all the @SS's?

  10. #40
    Unregistered Guest

    Default Re: Soleil

    Quote Originally Posted by Unregistered
    Where are all the @SS's?
    You may be a dirt in the society.
    Hsien Yang's in-laws are not @SS.

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