U.S. stocks fall as oil gains and financials hit again

Date: Mon, 28 Jul 2008 12:03:10 -0400
U.S. stocks fall as oil gains and financials hit again

NEW YORK
U.S. stocks on Monday were on the defensive as oil prices rose and with
earnings reports, including a sharp profit drop at Tyson Foods Inc.,
eclipsing cheer over a pending rescue plan for Fannie Mae and Freddie
Mac.

Verizon earnings rise 12% on wireless strength

Verizon Communications Inc. on Monday posts a 12% gain in second-quarter
earnings, buoyed by robust wireless sales despite a weakening economy.

Biotech Stocks: Amgen leads drug stocks up after progress on
osteoporosis drug

Amgen Inc. led drug stocks higher early Monday, as the biotech giant
gained on a report of progress with an osteoporosis drug candidate,
denosumab.

KKR set to go public in merger with affiliate

Kohlberg Kravis Roberts & Co., which stunned Wall Street with the buyout
of RJR Nabisco in 1989, is about to go public, valuing the
private-equity firm at as much as $15 billion, the company said late
Sunday.

Two more banks fail; Mutual of Omaha Bank buys deposits

Two more banks are shut down by federal regulators late Friday, bringing
to seven the number of bank failures so far this year.