Latest News Wires

All Latest News Wires

Stocks held back by tech sector

Stocks fell Friday led by a slump in technology stocks. Microsoft fell the most in more than four years after the company wrote off nearly $1 billion on its new tablet computer and reported declining revenue for its Windows operating system.
Morgan Stanley quarterly profit jumps on stock trading

Morgan Stanley reported seeing income rise in all of its businesses. Profit for Morgan Stanley in wealth management jumped 83 percent, while profit from trading and investment banking was six times higher than it was a year earlier.
Intel Corporation cuts revenue forecast as PC industry sags

Despite dominating the PC industry, Intel Corporation has yet to roll out chips that can be used in smartphones and tablets. Intel executives say they intend to aggressively pursue mobile business.
Verizon posts 'solid' quarterly revenue results

Verizon Communications Inc. did not produce as strong a growth in revenue as analysts expected. Verizon executives say the company's shrinking wireline revenue is due to corporate spending cuts and reduced government spending.
'Goth Barbie' sells big; Barbie sales slump

'Goth Barbie', otherwise known as the 'Monster High' line of dolls, has been an unexpected hit for Mattel. But while goth Barbie soars, regular Barbie is in a protracted sales slump.
Stocks up on reassurance from Bernanke

Stocks edged up Wednesday after Federal Reserve Chairman Ben Bernanke said that the U.S. central bank had no firm timetable for cutting back on its bond purchases. Higher earnings for several major companies also helped stocks.
Marissa Mayer hits one year at Yahoo, but revenue disappoints

Marissa Mayer has been at the helm of Yahoo for one year, bringing sweeping changes to the company. Yahoo's second quarter earnings beat expectations Tuesday, but its revenue outlook fell short. Mayer remains upbeat about the company's progress.
Keith Olbermann comes back to ESPN to host late-night show

Keith Olbermann rose to prominence as a 'SportsCenter' anchor from 1992-97 before one of several contentious departures that have marked his career.
Asiana Airlines scraps lawsuit over racist pilot names

Asiana Airlines said Wednesday it no longer plans to sue a San Francisco TV station over the use of racially offensive names. KTVU-TV has already apologized for using fake names for four pilots on a plane that crashed in San Francisco on July 6, Asiana Airlines said.
Bank of America earnings soar 70 percent

Bank of America's profits jumped 70 percent in the second quarter, helped by cost-cutting and higher earnings from investment banking. Bank of America, the country's second-biggest bank by assets, has been slimming down and cutting jobs since the beginning of 2010.
Stocks fall on lackluster earnings

Stocks closed down on Wall Street Tuesday after a string of disappointing earning reports from major companies. Coca-Cola stocks fell after the company said it sold less soda in its home market of North America.
Twinkies are back, and smaller than before (+video)

Twinkies returned to store shelves nationwide Monday, but the new Twinkies weigh less and have fewer calories than their predecessors
Stocks extend hot start to July

Stocks edged higher on Wall Street Monday on a surge in Boeing, after it was found that batteries were not the cause of a fire on one of its 787 aircraft at London's Heathrow airport last week. The gains continue a hot streak for stocks in July.
787 Dreamliner fire wasn't caused by faulty batteries

Investigators say Friday's fire on an empty Boeing 787 Dreamliner plane at London's Heathrow Airport wasn't caused by faulty aircraft batteries, but was probably an issue with the fuselage. In January, battery problems with Boeing's Dreamliners grounded the whole fleet.
Hulu sale is called off, owners will invest $750 million

The rumored Hulu sale has officially been called off. 21st Century Fox, Disney, and NBCUniversal will remain owners of the online streaming service, and will reinvest $750 million to ensure its growth.
Stocks inch higher in record day on Wall Street

Stocks rallied in the closing minutes on Wall Street Friday, closing high enough to post new record highs for the Dow Jones industrial average and the Standard & Poor's 500 index. Profits at big banks Wells Fargo and JP Morgan came in better than expected, and that helped financial stocks.
Walmart Twinkies are here, on sale before Hostess planned

Walmart Twinkies will be on sale this weekend, even though Hostess says it asked retailers to wait until Monday to start selling the iconic snack cakes. Walmart announced Friday that Twinkies were available at about 1,600 stores and that about 3,000 of its 4,000 U.S. stores should have them by Sunday morning.
Dreamliner fire disrupts Heathrow Airport; Boeing shares plunge

Two separate issues involving Boeing 787 Dreamliner planes have disrupted travel and sent Boeing shares falling Friday. A 787 Dreamliner en route from England to the US had to turn back after experiencing a technical issue, and Heathrow Airport briefly shut down its runways after a fire on an empty 787.
Paula Deen fires legal team after admitting racial slurs

Paula Deen announced last week she had cut ties with her longtime agent who helped make her a Food Network star and start a media and merchandising empire that has largely collapsed.
Stocks surge as Bernanke calms stimulus worry

Stocks rose Thursday after Federal Reserve Chairman Ben Bernanke said the central bank will keep supporting the economy. Stocks that benefit most from a continuation of low interest rates, such as homebuilders, notched some of the biggest gains.