Stocks see-saw higher as job cuts spread to more sectors

Date: Mon, Jan 26, 2009 at 2:01 PM

Stocks see-saw higher as job cuts spread to more sectors

The large wave of layoffs gives added impetus to President Obama's call for quick action on his economic stimulus proposals but has little impact on the market, which is anticipating another 500,000 job losses this month.

AFTER HOURS: AMGEN, VMWARE SHARES HURT AFTER REPORTS DISAPPOINT INVESTORS

Shares of Amgen Inc. struggle after the biotech giant's quarterly results missed Wall Street's outlook, and a weak sales forecast from VMware Inc. weighs on its shares.

PFIZER LINES UP BIGGEST BANK DEAL SINCE MARCH, TAPPING U.S. AID

Pfizer's pact to acquire Wyeth gives taxpayers a glimpse into how banks are using some of the Treasury Department's $200 billion in bank aid.

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.

EMERGING MARKETS REPORT: RUSSIAN STOCKS RALLY, LED BY MINERS, ENERGY FIRMS

Stocks in Moscow rally, as surging commodity prices boost energy and mining companies, while Russia's largest bank, Sberbank, reports a rise in third-quarter net profit.