Monday, November 05, 2007
U.S. stocks slide as Citi-inspired credit jitters surface
DJIA
13,560
-34.87
S&P
1,505
-3.67
NASDAQ
2,801
-8.99
10Yr
4.32%
+0.031
U.S. stocks slide as Citi-inspired credit jitters surface
NEW YORK
Wall Street stocks lost ground Monday after Citigroup Inc. amplified
worries about the extent of the credit crisis by saying it might have to
write off $11 billion more in losses.
The Fed: FOMC not bailing out Wall Street, Mishkin says
WASHINGTON
The Federal Reserve's two interest-rate cuts were designed to reduce
economic risk and not to lessen the risk that investors will lose money
from bad decisions they've made, Fed Gov. Frederic Mishkin said Monday.
Citi puts Rubin, Europe chief at the helm after CEO ousted
WASHINGTON
Citigroup Inc. said Sunday that Charles Prince had "elected to retire"
as chairman and chief executive, marking the second Wall Street
chieftain in less than week to surrender to the fallout from the
subprime-mortgage disaster.
BEA gives Icahn data in Oracle rebuff
WASHINGTON
BEA Systems Inc. said Monday it gave activist shareholder Carl Icahn
confidential information to show that Oracle Corp.'s now-expired buyout
offer of $17 a share "significantly undervalues the company."
PetroChina soars to $1 trillion market cap in debut
HONG KONG
PetroChina Co. shares more than doubled in their Shanghai debut Monday,
giving the oil giant a $1 trillion market capitalization and easily
surpassing Exxon Mobil as the world's largest company.
