Headlines almost repeat themselves everyday
Dow Industrial Enters Bear's Lair
The Dow Jones industrial average fell victim to the bear market in early morning trading on Thursday, becoming the last of the major stock indexes to drop more than 20 percent off its high as investors worried about weak corporate profits and the wobbly U.S. economy.
P&G to Cut Additional 9,600 Jobs
Consumer products giant Procter & Gamble Co. said on Thursday it plans to cut about 9 percent of its global work force, or 9,600 jobs, increasing a previously announced job-reduction program amid slowing sales growth.
UPS Says Weak Economy to Hurt Earnings
United Parcel Service Inc., the world's No. 1 package delivery group, said on Thursday first-quarter earnings would fall below last year's results due in part to the slowing U.S. economy, harsh weather conditions, and weakness in the euro.
Barnes & Noble Earnings Fall
Bookseller Barnes & Noble Inc. said on Thursday its fourth-quarter earnings per share before charges fell, in line with Wall Street expectations, due in part to a weak holiday season.
Treasuries Surge As Stocks Tumble More
U.S. Treasuries surged on Thursday, driving short-dated yields to fresh 2-1/2 year lows as global stock markets nursed deep losses and the Dow Jones industrial average fell into bear market territory.
Schwab Cuts Jobs, Lowers Profit Outlook
Charles Schwab Corp., the No. 1 U.S. online and discount brokerage, on Thursday said it was cutting 2,750 to 3,400 jobs, or 11 to 13 percent of its total staff, joining the pack of financial services companies slashing costs as markets soften.
ConAgra Earnings Down on Higher Costs
ConAgra Foods Inc., a leading food-service manufacturer and retail supplier, said on Thursday its fiscal third-quarter earnings fell 31 percent, in line with Wall Street estimates, reflecting higher costs.
Agere Raises IPO Shares, Halves Price
Agere Systems Inc. on Thursday cut in half the price range of its initial public offering to $6-$7 a share from $12-$14, as the communications semiconductor unit of Lucent Technologies Inc. tried to make the IPO more appealing in a hostile market.
Slowing Economy Hurts Ames' Numbers
Discount retailing chain Ames Department Stores Inc. on Thursday reported a fourth-quarter net loss of $152 million as costs associated with the closure of 32 stores and a slowing economy hurt results. |
