Wall Street mixed as bond insurer rescue plan advances
Wall Street closed mixed as rumors spread that a bond insurer rescue plan for Ambac is progressing and Cisco comments buoyed tech shares. Merrill Lynch trimmed Citigroup earnings projections sending banks lower while Dubai fund officials warned of needing more cash to stay in business. Market volatility remains high as lenders' bad debt weighs on sentiment.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Cisco Systems Inc
Merrill Lynch
Citigroup Inc
Dubai
CNBC
Ambac Financial
Dow Jones
Cisco
John Chambers
Anthony Conroy
BNY ConvergEx Group
Dow
Dow Transporation
Dow Utilities
Assur
Aisius
iAmbach
Nya
Millindia UN
Tesserat
Pfb
Pia
Theravnce
Matis
ST Gold Nya
Amy Part
MernfiLyn
CitryTet
ParkHans
Diebold
Prusnssp Amex
Prushqqq Amex
Sherwin NY
Siriuss
TamSem NY
Nya Amex
Tessera T
Nash
Wachovia
Brep
Sweet Crude
NYMX
New York le Exchange
CBOT
Chicago Board of Trade
CME
Exchange
NYBT
New York Board
Init Lommins
BalAm
Mwis
Eurpacgra Mfb
Fundminva Mlb
Growamera Mlg
Incamera m MA
American Invcoama m LV
American Funds
Wamutinva m LV
Davis Nyventam
Dodge & Cox IntiStk
Oo & Cox Stock
Fidelity
Fidelity Eqinc
Fidelity LowPrintk
Vanguard
Microsoft chief affirms Yahoo bid remains good
Seattle Microsoft chief executive Steve Ballmer told reporters the companys bid for Yahoo is still a good deal. The half cash half stock offer now valued at 40.8 billion contrasts with 44.6 billion at Februarys start amid Microsoft share declines. Ballmer spoke at a Hanover Germany news conference amid technology summit inquiries.
MENTIONED IN THIS ARTICLE
Seattle
Microsoft
Globe
Yahoo
Steve Ballmer
Ballmer
Hanover
Germany
Reuters
Oil price surge blamed on speculation says Energy official
Energy Information Administration head Guy Caruso told a Senate panel that speculation may add as much as 10 percent to crude costs while supply and demand alone cannot explain the rise. He warned the peak could be ahead and noted prices around 102 dollars with futures dipping below 100 amid OPEC's expected hold output. President Bush urged OPEC to pump more as the economy slows.
MENTIONED IN THIS ARTICLE
Washington
Energy Department
Guy Caruso
Department
Energy Information Administration
Senate
New York Mercantile Exchange
Organization of Petroleum Exporting Countries
Bush
OPEC
U.S
Oval Office
Jordan
Abdullah II
Caruso
Senate Energy and Natural Resources Committee
Byron Dorgan
D-N.d
Dorgan
Bernanke urges more relief to curb home foreclosures
Federal Reserve Chair Ben Bernanke called for vigorous action to reduce preventable foreclosures amid rising delinquencies. He urged lenders to cut loan amounts to restore equity and cited principal reductions as a potentially effective tool despite lender reluctance. Regulators stressed the system remains strong, with FDIC chief Sheila Bair noting most institutions are well capitalized though losses may rise.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Ben Bernanke
Bernanke
Orlando
Fla
Fed
Bill Stevens
Capital Bank
Greenwood
S.C
Banking and Savings and Loan Institution
Federal Deposit Insurance Corporation
Sheila Bair
Senate Banking Committee
FDIC
Also Mentioned on This Page
H. Josef Hebert
Associated Press
Sakhir
Bahrain
Jeannine Aversa
The
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