U.S. stocks sharply off on corporate losses

Date: Fri, 29 Feb 2008 17:01:04 (GMT)
U.S. stocks sharply off on corporate losses

NEW YORK
U.S. stocks head south with equities readying for possible weekly gains
but monthly declines, with early investor sentiment dampened by American
International Group Inc. and Dell Inc.'s quarterly losses.

Economic Report: Consumer spending flat in January

U.S. real consumer spending was unchanged in January for the third time
in the past four months as the economic slump deepened.

AIG shares fall after loss, troubled unit head resigns

NEW YORK
Shares of American International Group fell more than 7% Friday, leading
decliners among all the financial stocks in the S&P 500 after the
company reported the biggest loss in its almost 90-year history,
including an $11 billion writedown of troubled mortgage securities.

Bond insurers active as Ross buys into Assured

NEW YORK
Shares of bond insurer Assured Guaranty rose Friday after revealing that
investor Wilbur Ross will provide up to $1 billion to strengthern its
business, while rival Ambac Financial Group's shares fell on a broadcast
report that a deal to boost its capital has hit a snag.

Futures Movers: Crude declines after hitting record high above $103

Crude-oil futures step back after hitting a record high above $103 a
barrel on reports that Ecuador's state-run oil company, Petroecuador,
suspended operations at a key export pipeline.