After The Bell Report: U.S. stocks bounce back in late-session surge led by financials

Date: Wed, 23 Jan 2008 22:01:04 (GMT)

U.S. stocks bounce back in late-session surge led by financials

U.S. stocks traded sharply lower after the European Central Bank spoke
of inflationary worries, dashing hopes it would follow the Federal
Reserve's interest-rate cut, and Apple Inc.'s outlook weighed on
technology.

EBay earnings jump 53%; Whitman to retire from CEO post

SAN FRANCISCO
EBay Inc. said late Wednesday that fourth-quarter earnings jumped 53%
thanks to strong holiday sales, but the online auctioneer also issued a
forecast for the current year that fell below Wall Street's
expectations.

Ambac, banks fire up financial sector

Financial stocks close sharply higher, led by a 72% gain in shares of
bond insurer Ambac after investors anticipate a financial rescue of the
troubled firm and rivals.

Wall Street still warm to Apple in spite of sell-off

While many investors may now think Apple is rotten to the core, Wall
Street is trying to rally support for the once high-flying stock.