U.S. stocks rise sharply on bargain-hunting

11:50 am ET Aug 29, 2007

DJIA

13,179

+137.86

S&P

1,448

+16.28

NASDAQ

2,532

+32.17

10Yr

4.53%

+0.003

U.S. stocks rise sharply on bargain-hunting

NEW YORK
U.S. stocks rose sharply Wednesday, as traders fished for bargains
following the steep decline in the previous session, with Dow component
Intel Corp. and other technology shares posting strong gains.

Altria to pursue international spin-off

CHICAGO
Altria Group Inc. said Wednesday that it will pursue a spinoff of Philip
Morris International unit to its shareholders and the precise timing
will be announced in January.

DaimlerChrysler profit falls 14%; buyback announced

LONDON
DaimlerChrysler issued its first full earnings statement without
Chrysler Wednesday, reporting a 14% drop in second-quarter profit and
saying it will take a smaller charge than previously expected from
selling off most of the U.S. automaker.

Financials bounce back a bit after Tuesday drubbing

NEW YORK
Shares of U.S. financial stocks rebounded modestly on Wednesday after
taking a pounding in the previous session.

Wall Street unfazed by Google CFO's departure

SAN FRANCISCO
Normally, the unexpected departure of a company's chief financial
officer sets off warning bells with investors that things may be amiss
in the high executive suites.