U.S. stocks fall after mixed earnings, data
Date: Thu, 17 Apr 2008 16:01:05 (GMT)
U.S. stocks fall after mixed earnings, data
U.S. stocks slip as a mixed batch of earnings from the likes of Merrill
Lynch, International Business Machines, and Pfizer fail to inspire the
market.
The Fed: Kohn sees major weaknesses in financial system
WASHINGTON
The ongoing turmoil in financial markets has "revealed major weaknesses"
in the U.S. financial system that need urgent attention from the private
sector and regulators, Federal Reserve Vice-Chairman Donald Kohn said
Thursday.
Economic Report: Philly factory gauge falls to 7-year low
Factories in the Philadelphia region report weaker conditions in early
April, as the Philly Fed index remains negative for the fifth straight
month.
Merrill still exposed despite big first-quarter write-downs
"De-leveraging by its nature takes a lot of time, a lot of pain,"
Berkshire Hathaway Chairman Warren Buffett said in a recent Fortune
interview. For Merrill Lynch that statement is too true.
EBay shares fall as auctions business still shows weakness
EBay sees its shares slip after reporting better-than-expected results
for the first quarter but indicating that its core business is still
relatively weak.
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