Stifel Financial Corp., the St. Louis-based brokerage that has quintupled revenue since 2005 with nine acquisitions, may find its biggest takeover opportunity yet in Regions Financial Corp.’s Morgan Keegan & Co.
Goldman Sachs Group Inc.’s stock price may fall and the board could come under pressure to change managers after European politicians followed a U.S. fraud suit with plans to scrutinize the firm, investors said.
Morgan Stanley , owner of the world’s largest brokerage, hired 100 bankers to offer more products such as jumbo mortgages and structured loans to Morgan Stanley Smith Barney clients and may quintuple their numbers by the end of 2011, a person with knowledge of the strategy said.
Jefferies Group Inc. , the first Wall Street firm to release third-quarter results, fell the most in two months in New York trading after reporting earnings that missed analysts’ estimates on a drop in trading revenue.
Bank of America Corp. and Wall Street firms that notched perfect trading records in the first quarter are now depending on an accounting benefit last used in the depths of the credit crisis to prop up their results.
MBIA Inc., the largest bond insurer, will split its municipal bond insurance business from the mortgage-related debt guarantees that led to the loss of its top credit ratings. The shares surged 30 percent.