WaMu shares shake off losses following report of Q2 loss

Date: Tue, 22 Jul 2008 17:04:35 -0400
WaMu shares shake off losses following report of Q2 loss

Shares of Washington Mutual Inc. move higher in volatile trading action
Tuesday evening after the company posts a more than $3 billion loss for
the second quarter.

U.S. stocks close solidly higher as financials rally

U.S. stocks tilt in mixed trade as crude comes off its lows and Wachovia
Corp. fronts a turnaround among embattled financial shares after the
large regional bank says it would not sell stock to raise capital.

Apple shares hit on weak forecast despite strong earnings

Apple Inc. shares cut their losses Tuesday, but still close in the red
after the consumer electronics maker issued a fourth-quarter profit
forecast that was weaker than Wall Street's expectations, taking the
shine off a 31% jump in its third-quarter earnings.

AmEx falls as economy chokes growth

Shares of credit-card giant American Express shed as much as 12%, in
reaction to second-quarter results underscoring the fragile state of the
U.S. economy.

U.S. plan for GSEs has $25 billion price tag: CBO

A proposed plan by the Bush administration to backstop struggling
mortgage-finance companies Fannie Mae and Freddie Mac will cost $25
billion over fiscal years 2009 and 2010, the Congressional Budget Office
estimates.