Monday, November 24, 2008
U.S. stocks get big boost from Citi rescue
U.S. stock sharply higher higher, extending the prior session's solid
gains, with bank shares in particular bolstered by word of Citigroup's
11th-hour rescue by the government.
CITIGROUP SOARS AS U.S. AGREES TO SWEEPING RESCUE PACKAGE
Citigroup shares rocket higher after federal officials back a $326
billion rescue in a plan aimed at averting chaos in the financial
system.
FINANCIAL STOCKS: UNCLE SAM'S CITI LIFELINE SPARKS RALLY
Citigroup shares jump more than 60%, rallying after the banking giant
rescue agreement reached late Sunday with federal officials, as
investors bid financial-sector shares broadly higher.
OBAMA TO UNVEIL ECONOMIC TEAM MONDAY
President-elect Barack Obama will unveil key members of his
economic-policy team on Monday, making the high-profile announcements
on the heels of the extension of a government lifeline to financial
titan Citigroup.
KING TO BUY ALPHARMA FOR $1.6 BILLION
King Pharmaceuticals Inc. on Monday said Alpharma Inc. has accepted
its revised offer to be acquired in an all-cash deal valued at $1.6
billion.
