U.S. stocks hammered, fueled by worries of global slowdown

Date: Wed, 22 Oct 2008 17:03:11 -0400
U.S. stocks hammered, fueled by worries of global slowdown

U.S. stock indexes are pummeled, with the major indexes down as much as
5%, as investors contend with a string of dispiriting earnings reports
and worries of global recession.

SanDisk shares touch 52-week low as Samsung pulls offer

SanDisk shares plunge as investors dump the chip maker after South
Korean electronics giant Samsung pulled its $26-a-share acquisition
offer.

AT&T profit rises, while iPhone sales surge

AT&T's third-quarter profit climbs 5.5%, with the company adding 2
million wireless customers.

Boeing's quarterly profit falls 37% on machinists' strike

Boeing Co. cites the strike called by machinists against at its
commercial-aircraft business as a key factor behind the aerospace
giant's third-quarter earnings drop of 37%.

McDonald's 'optimistic' as profit jumps 11%

McDonald's posts an 11% rise in third-quarter profit, helped by strong
sales both in the U.S. and abroad.