Monday, October 01, 2007
U.S. stocks kick off quarter bullishly, push Dow to record high
DJIA
14,087
+191.92
S&P
1,547
+20.29
NASDAQ
2,740
+39.49
10Yr
4.56%
-0.022
U.S. stocks kick off quarter bullishly, push Dow to record high
NEW YORK
Stocks rallied at the outset of the fourth quarter on Monday, pushing
the Dow to record heights as traders tried to put this summer's credit
crisis behind after a hefty profit-warning from Citigroup Inc. See full
story.
Palm swings to quarterly loss, issues weak forecast
SAN FRANCISCO
Palm Inc. swung to a loss during its first fiscal quarter and issued a
disappointing forecast for the current period as sales of the company's
line of smart phones fail to keep pace with rival devices.
Citigroup says quarterly profit to drop 60%, but shares gain
NEW YORK
Citigroup Inc. said Monday it expects third-quarter profit to fall 60%
from last year after huge write-downs for unsold debt it issued to
finance corporate takeovers and for big losses on the value of subprime
mortgage-backed securities.
UBS pegs hit from subprime at $3.4 billion; 1,500 jobs to go
LONDON
UBS will take a net third-quarter write-down of around 4 billion Swiss
francs ($3.4 billion) tied to its subprime mortgage exposure and plans
sweeping management changes and job cuts in its investment-banking
division, the Swiss banking giant said Monday.
Emerging Markets Report: Putin says he may become Russia's prime
minister
NEW YORK
Russian President Vladimir Putin said Monday that he might assume the
role of prime minister, signaling his intention to retain significant
political power after his presidential term expires next March.
