Existing-home sales rise 6.5% as prices plunge

Date: Mon, 26 Jan 2009 12:01:26 -0500

Sales of existing homes rise 6.5% in December to a seasonally
adjusted. annualized rate of 4.74 million as prices continue to plunge
at a record pace, the National Association of Realtors reports.

SPRINT TO ELIMINATE 8,000 JOBS

Sprint Nextel Corp. on Monday says it will purge 8,000 jobs as part of
an effort to reduce costs in the face of a deepening U.S. recession.

PFIZER BUYING WYETH FOR $68 BILLION IN CASH AND STOCK

Pfizer reaches agreement to buy drug-making rival Wyeth for $68
billion with the aim of restocking its producti pipeline, as the
blue-chip component also reports a 90% decline in fourth-quarter net
profit.

CATERPILLAR POSTS 32% DECLINE IN QUARTERLY PROFIT, CUTS JOBS

Caterpillar Inc. posts a 32% drop in fourth-quarter profit and
announces 20,000 job cuts.

HOME DEPOT TO CLOSE EXPO, SLASH JOBS

In another sign of the worsening economic downturn, Home Depot Inc.
says it is throwing in the sponge on its Expo design and décor
business, closing stores and laying off thousands of employees.