U.S. stocks strike negative tone as Intel disappoints

Date: Wed, 16 Jan 2008 17:06:04 (GMT)

U.S. stocks strike negative tone as Intel disappoints

U.S. stocks struck a negative tone Wednesday as Intel Corp.'s
disappointing quarterly profit and forecast prompted more hand-wringing
about the technology sector as well as the direction of the global
economy.

Wells Fargo's net slips, sees tough 2008 for consumer sector

Wells Fargo & Co. on Wednesday reported fourth-quarter net income fell
38% as the bank braces for a consumer slowdown in 2008. Still, the
company's chief executive said the pain in credit markets may present
opportunities for acquisitions and other purchases.

J.P. Morgan profit falls 34% on subprime, investment banking

J.P. Morgan Chase said Wednesday its fourth-quarter profit slipped 34%,
driven lower by a $1.3 billion write-down of subprime assets and
deteriorating performance in its home equity business and a big drop in
investment banking activity.

Economic Report: Consumer prices rise 0.3% in December; core CPI's up
0.2%

Led once again by higher energy prices, U.S. consumer prices increased
0.3% in December, slightly more than expected, the Labor Department
reported Wednesday.

Oracle buys BEA Systems after raising price; Icahn supports deal

Oracle Corp. said Wednesday it would acquire BEA Systems Inc., a company
it has pursued for three months, in a deal valued at $8.5 billion.