U.S. stocks reverse course, trade mixed; financials lower

11:51 am ET Nov 2, 2007

DJIA

13,488

-79.18

S&P

1,497

-11.41

NASDAQ

2,787

-7.38

10Yr

4.29%

-0.072

U.S. stocks reverse course, trade mixed; financials lower

NEW YORK
U.S. stocks on Friday shed earlier gains with investors funneling money
into the perceived safety of Treasurys instead, as anxiety about
financial stocks overshadowing a surprisingly strong October jobs report
and an unexpected rise in factory orders.

Hedge Funds: Paulson hedge funds cut subprime bets after huge gains

SAN FRANCISCO
Paulson & Co., a $24 billion hedge fund firm that's generated huge
returns from betting against subprime mortgage securities, has begun
trimming those positions.

British Airways cuts sales forecast again as profit jumps 51%

LONDON
British Airways reported a 51% rise in fiscal first-half profit on
Friday on back of lowered costs, but the airline trimmed its sales
outlook again as the weaker dollar kept Americans from flying across the
ocean.

Retirement Living: Workers' retirement-plan participation drops for
second year

SAN FRANCISCO
Thanks in part to fewer employers enrolling their workers in traditional
pensions, the portion of employees participating in a retirement plan
dropped in 2006, the Employee Benefit Research Institute said Thursday.

Temporary alternative minimum tax 'patch' advances

WASHINGTON
The House's tax-writing committee on Thursday approved a Democratic plan
that aims to shield middle-class taxpayers from the alternative minimum
tax this year while offsetting lost revenues by raising taxes on some of
the income earned by hedge-fund and private-equity fund managers.