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How the Fed and Treasury Adopted a Brand New Playbook
A look at some of the unprecedented moves the Fed and Treasury took to bring the financial markets back from the precipice.

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Stock of the day - Ann Taylor (ANN)

Ann Taylor Dresses for Success with a New Wardrobe
AnnTaylor Stores Corporation, a women's clothing chain, reported a $2.1 million third quarter profit today. This news may sound relatively run-of-the-mill on the surface, but it is particularly exciting for investors considering that Ann Taylor posted a $13.4 million loss just a year ago. The retail sector in general has been rather stagnant because of the slumping economy. Consumers seem to be tightening their budgets and cutting back on leisure expenses. Women, especially ones with families, tend to be more inclined to make family purchases before personal ones. Even with all these obstacles in play, how was Ann Taylor able to generate a profit? Read more

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Today's commentary

11/23/2009
How Much Longer Can Gold Rise? -- As the precious metal continues to soar, naysayers abound. But a few things need to happen before the yellow fever cools off. (Source: MSN Money)

Fire Geithner? Heck, No. -- One reliable measure of the stock market's tone is the gap, or lack thereof, between what institutional traders are discussing and what dominates the financial news. When traders are in sync with the news flow, markets tend to function smoothly. When they aren't, watch out. (Source: Barron's)

Wall Street: Is It Good to Apologize for Greed? -- What would J.P. Morgan (JPM: Charts, News, Offers) have said about regret expressed by Goldman Sachs (GS: Charts, News, Offers) CEO Lloyd Blankfein? History tells us the apology was a savvy investment. (Source: BusinessWeek)

How to Break Up the Banks? -- The financial crisis that sparked the worst recession in decades is in abeyance, but not yet over. Nonperforming loans and other assets of doubtful quality still weigh on many banks. Financial reform to date has focused on improving capital rules and processes. What has not yet been addressed is the future structure of the global financial system. (Source: WSJ)

Show Me the Money -- Who decides what a trader is worth: His bosses? The government? The public? Inside the tug-of-war over pay at AIG (AIG: Charts, News, Offers), where compensation has become a proxy for a whole lot more. (Source: New York Magazine)

News that you should pay attention to

Latest News

JM Smucker Co.'s (SJM) acquisition of Folgers Coffee Co. has continued to pay off for the jam maker. The company was able to post higher-than-expected quarterly results thanks to strong margins at its Folgers coffee business. Looking ahead, Smucker raised its full-year 2010 earnings guidance to a range of $3.95 to $4.05 per share.

The No. 2 US homebuilder, DR Horton Inc. (DHI), narrowed its fiscal fourth-quarter loss, but still missed analysts' expectations. Quarterly revenues dropped 42% year-over-year, reflecting lower home sales as market conditions in the homebuilding industry continued to be challenging.

Shares of Dell, Inc. (DELL) continued to head south on Friday after the company posted disappointing results for its fiscal third quarter that ended in October. The company appears to have a positive outlook despite its recent performance. The world's No.3 PC brand said that its core business of selling computers to companies was returning .

First it was journalists, Main Street, and Washington complaining about Goldman Sachs' (GS) bonus fund. Now some of the company's largest shareholders are urging the bank to reduce the size of its bonus pool in order to bolster per-share earnings.

Goldman Should Just Ride out the Wa ....

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Term of the day

high yield
Description of investments with high rates of return. Generally, a high yield bond will be ranked very low by a rating agency, because these are bonds which have a relatively high chance of default, and therefore have to offer higher returns. Similarly, a stock will offer a high dividend yield in order to compensate for lower expected capital gains, for example a large company in a mature industry ... More
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Notable Quotable

"It's so expensive to be rich."
Susan Gutfreund

On this Date

November 23, 1909:
The Wright brothers form a million-dollar corporation for the commercial manufacture of airplanes.

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