Wednesday, September 26, 2007
Bear jumps on report bank is in talks to sell minority stake
DJIA
13,878
+99.50
S&P
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+8.21
NASDAQ
2,699
+15.58
10Yr
4.62%
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Bear jumps on report bank is in talks to sell minority stake
SAN FRANCISCO
Bear Stearns Cos. shares jumped almost 8% on Wednesday after the New
York Times reported that the investment bank is in talks to sell a
minority stake to investors including Warren Buffett.
Deal for Sallie Mae threatened, but company pursues closure
WASHINGTON
The group of investors that agreed to buy SLM Corp. has said that it
can't close the deal under the agreed-upon terms, the giant student
lender announced Wednesday.
Merrill Lynch's profit seen sharply lower over credit losses
BOSTON
Analysts at Goldman Sachs cut their earnings forecasts for Merrill Lynch
on Wednesday, citing expected losses stemming from the turmoil in the
credit markets.
Chevron Corp. to buy back up to $15 billion in stock
NEW YORK
Chevron Corp. on Wednesday announced plans to buy back up to $15 billion
in stock as the energy giant moved to return to shareholders some of its
windfall from higher oil prices.
GM shares rise as much as 10% on settlement with union
SAN FRANCISCO
General Motors Corp. shares jumped as much as 10.7% on Wednesday after
the Detroit automaker hammered out a deal with the United Auto Workers,
marking an end to a two-day strike and allowing production to resume.
