Financial holding company State Street Corporation (STT) announced Wednesday it would cut 1,700 jobs by March 2009. Those cuts represent about 6% of the company’s workforce of approximately 28,700 employees. The company said about two-thirds of the layoffs would include North American workers, with most of the cuts affecting middle and senior management roles. Expenses stemming from [...]

Stocks In Focus For Thursday

State Street To Cut 6% Of Workforce, Or Up To 1,800 Jobs

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Getting our buck's worth on hundreds of billions.

State Street Corporation (STT) began its reduction in force over the last couple of days.  Not the first Boston behemoth to cut its work force since the global downturn in financial services, but a 6% reduction is no small amount.  With the removal of 1,600 to 1,800 jobs, State Street has the opportunity to save up to $400 million a year in expenses.  While no one likes to see job cuts, the reality is that the[More...]

STATE STREET (STT), the financial services company, said it will cut 1,600-1,800 jobs, or 6% of its work force, by the end of Q1. It will take a...

There is no doubt that reforms in the financials sector are necessary going forward following this financial crisis. Stricter regulation of financial products and more transparency in the markets probably could have helped to prevent some of the problems that have recently rocked the markets, including the fall of Bear Stearns ...

Filed under: Options, Technical Analysis

State Street (NYSE: STT - option chain) shares are moving higher today despite the markets being in the toilet again. This could be because STT is one of the companies that are getting cash from the government. STT will receive a $2 billion cash injection from the federal government in return for non-voting senior preferred stock. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on STT.

STT opened this morning at $40.88. So far today the stock has hit a low of $40.63 and a high of $44.93. As of 12:20, STT is trading at $41.61, up 0.38 (0.9%). The chart for STT looks neutral and S&P gives STT a 3 STARS (out of 5) hold ranking.

For a bullish hedged play on this stock, I would consider a January bull-put credit spread below the $25 range.

Continue reading State Street (STT) should benefit from bailout plan

State Street (STT) should benefit from bailout plan originally appeared on BloggingStocks on Tue, 11 Nov 2008 13:04:00 EST. Please see our terms for use of feeds.

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By William Patalon III Executive Editor Money Morning/The Money Map Report The U.S. Treasury Department plans to borrow a record $550 billion in the current quarter, and another $368... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. <img src="http://feeds.feedburner.com/~f/USMoneyMorning?i=k6mZN"[More...]

Schaeffer's analyst Elizabeth Harrow takes a look at the major news of the day on Wall Street.

Schaeffer's Laura Houser takes a look at activity on the Street after the market close

Schaeffer's Laura Houser takes a look at activity on the Street ahead of the market open

Schaeffer's Laura Houser takes a look at activity on the Street after the market close

Aired 05/31/08 Thomas Anderson is the Head of Strategy and Research Group for State Street Global Advisors. State Street Global Advisors (SSgA), the investment management arm of State Street Corporation ( NYSE: STT) and the largest institutional fund manager in the world.