According to Reuters, Goldman Sachs (GS) issued a report saying the housing sector had much further to fall and that some financial institutions would have to raise money to stay in business. The report listed MBIA (MBI), Ambac (ABK), Security Capital Assurance (SCA), and Assured Guaranty (AGO) as "desperate" and Citigroup (C) and Washington Mutual (WM) as "needy".
Reuters writes that HP (HPQ) rode big sales in laptops to a record quarter.
The Wall Street Journal writes that United Rentals sued Cerberus over a broken takeover.
The Wall Street Journal writes that Pfuzer (PFE) won a key court case that may block some suits over whether its drug Celebrex caused heart problems.
The Wall Street Journal writes the GOP members of Congress are attacking an FCC plan to block cable expansion.
The Wall Street Journal writes that the Nasdaq is trying to take some companies away from the NYSE.
The New York Times writes that US company sales overseas may keep the US economy from falling into recession.
The New York Times writes that employess at CBS News (CBS) have voted to strike.
The FT writes that China has voiced alarm at the price of the US dollar.
Barron’s writes that shares of Echostar (DISH) fell when a reported indicated that the company would not be bought by AT&T (T).
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
