Archive for November 20th, 2008
Dell: Lower earnings and revenue
Dell Inc., reporting lower quarterly earnings and revenue, said Thursday that the global economic slowdown has caused consumers and businesses to pull back on technology spending.
Fannie and Freddie suspend foreclosures
Mortgage giants Fannie Mae and Freddie Mac have directed their network of servicers to halt all foreclosure and eviction proceedings between Nov. 26 2008 and Jan. 9, 2009, meant to give a recently announced rescue plan time to work.
The Big Three Depression risk
The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one.
Banks borrow less from Fed
Read full story for latest details.
Congress extends jobless benefits
Read full story for latest details.
Big banks get crushed
Bank stocks plunged again Thursday with some of the biggest names in the industry falling to their lowest levels in more than a decade. It’s anybody guess when the selloff will end.
Kick GM out of the Dow…now!
General Motors has a market capitalization of less than $2 billion. The stock, which now trades for a little under $3 a share, hit a 70-year low of $1.70 on Thursday morning before recovering a bit.
S&P 500 sinks 6.7% to ‘97 low
Wall Street slumped Thursday afternoon and the S&P 500 closed at an 11-1/2 year low as fears of a prolonged recession sparked a massive selloff.
Treasury to backstop mutual fund
Read full story for latest details.
Saudi prince to boost stake in Citigroup
Citigroup’s largest individual shareholder, Saudi Prince Alwaleed Bin Talal, said Thursday he planned to increase his stake in Citigroup back to 5%. But the stock continued its painful slide despite this news.
