U.S. stocks end sharply higher on sliding oil, steady Fed

Date: Tue, 05 Aug 2008 17:04:12 -0400

U.S. stocks end sharply higher on sliding oil, steady Fed

U.S. stocks end sharply higher, fueled by a continued slide in crude oil
prices and as the Federal Reserve kept interest rates steady and gave no
hints it might change course any time soon.

Cisco reports 4.4% rise in fourth-quarter income

Cisco Systems Inc. reports a 4.4% rise in fiscal fourth-quarter net
income boosted by strong sales that exceeded Wall Street projections
despite what a company executive called "somewhat uncertain
macro-economic conditions in our largest geographies."

The Fed: Fed holds steady, keeps options open

Expressing considerable concern about both the feeble economy and high
prices, the Federal Reserve keeps its benchmark federal funds rate
unchanged at 2%.

Futures Movers: Oil ends lower, drops almost 5% in two days on demand
concerns

Crude-oil futures close below $120 per barrel as concerns that slower
economic growth will dampen oil demand and news of an apparent lack of
storm damage to energy-production facilities in the Gulf of Mexico
helped fuel a two-session oil price drop of nearly 5%.

Glitch blamed for undercount of Yahoo board's opponents

A firm representing one of Yahoo's biggest shareholder says a technical
glitch led to the undercounting of the votes effectively cast against
incumbent directors at last week's annual meeting.