Monday, July 28, 2008
U.S. stocks fall as oil gains and financials hit again
U.S. stocks fall as oil gains and financials hit again
NEW YORK
U.S. stocks on Monday were on the defensive as oil prices rose and with
earnings reports, including a sharp profit drop at Tyson Foods Inc.,
eclipsing cheer over a pending rescue plan for Fannie Mae and Freddie
Mac.
Verizon earnings rise 12% on wireless strength
Verizon Communications Inc. on Monday posts a 12% gain in second-quarter
earnings, buoyed by robust wireless sales despite a weakening economy.
Biotech Stocks: Amgen leads drug stocks up after progress on
osteoporosis drug
Amgen Inc. led drug stocks higher early Monday, as the biotech giant
gained on a report of progress with an osteoporosis drug candidate,
denosumab.
KKR set to go public in merger with affiliate
Kohlberg Kravis Roberts & Co., which stunned Wall Street with the buyout
of RJR Nabisco in 1989, is about to go public, valuing the
private-equity firm at as much as $15 billion, the company said late
Sunday.
Two more banks fail; Mutual of Omaha Bank buys deposits
Two more banks are shut down by federal regulators late Friday, bringing
to seven the number of bank failures so far this year.
