U.S. stocks hit as oil tops $132; investors await Fed minutes

Date: Wed, 21 May 2008 12:03:42 -0400
U.S. stocks hit as oil tops $132; investors await Fed minutes

Stocks turn broadly lower on Wednesday, as oil prices surged past $132 a
barrel after data showed a drop in crude supplies, fueling concerns that
inflation will hurt U.S. consumption and the economy at large.

AMR's American to cut capacity further, adds new bag fee

American Airlines intends to slash its domestic capacity by a range of
11% to 12% in the fourth quarter, grounding aircraft and cutting back
its workforce, because of record fuel prices, economic concerns and
competition, the carrier's parent company AMR Corp. said Wednesday.

Futures Movers: Oil tops $132 as data show unexpected drop in U.S. crude
supply

Crude-oil futures climb past $132 a barrel to break another record level
on Wednesday after government data show crude supplies unexpectedly
dropped, marking their first decline in five weeks.

Borders jumps on report of possible bid from Barnes & Noble

Shares of bookstore operator Borders Group Inc. jump on a report that
its larger rival Barnes & Noble Inc. is studying a possible bid.

Media Report: NBC Universal exec says advertisers will demand more of
VOD

Cable-based on-demand viewing of television shows has significant
potential for a variety of reasons but won't work as a business model if
consumers are able to fast-forward past commercials, according to a
senior NBC Universal executive.