According to Reuters, Morgan Stanley (MS) has suffered a $3.7 billion loss from its mortgage portfolio,
Reuters writes that shares in Cisco (CSCO) were driven down on concerns that orders from the financial sector would drop.
Reuters reports that Fed officials mentioned more rate cuts would be necessary if the economy slows.
Reuters also reports that Merrill Lynch (MER) said that the SEC is investigating certain aspects of its subprime mortgage portfolio.
Reuters also writes that BT (BT) hit earnings estimate on strength of its broadband business.
The Wall Street Journal reports that AIG’s (AIG) net fell 27%, hurt by a write-down.
The Wall Street Journal also reports that the US is recalling another four million Chinese made toys.
The Wall Street Journal writes that Tivo (TIVO) is marketing a service that allows advertisers to see details of people’s TV watching habits.
The Wall Street Journal writes that Moody’s say that certain asset pools to be protected by a superfund set up by banks are already liquidating their portfolios.
The Wall Street Journal writes that shares in content delivery firms Akamai (AKAM) and Limelight (LLNW) have taken a beating and could go lower.
The Wall Street Journal writes that Europe cellular giant Vodafone (VOD) will use the new Nokia ((NOK) music and internet services.
The Wall Street Journal writes that Kraft (KFT) added two board members approved by shareholder Nelson Peltz.
The New York Times writes that home owners are beginning to feel the pinch of lost equity.
The New York Times writes that high gas prices are adding to the strain on US consumers.
The New York Times reports that Ed Lampert, head of Sear (SHLD) has lost a large sum by investing in Citigroup (C).
The FT writes that Ford (F) may face a hurdle in selling Jaguar and Rover–a $2 billion pension fund deficit.
The FT writes that Wall St. expectations for fourth quarter earnings has fallen sharply.
Barron’s writes that shares in First Solar (FSLR) rose sharply after hours on strong earnings.
Douglas A. McIntyre
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