Ken Corbin Named Acting Director of IRS Unit as Lerner Placed on Leave
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The Fast Money traders take a look at today's biggest market movers.
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Procter & Gamble said Tuesday that 70 percent of its top executive's $27.7 million in compensation in the latest fiscal year came in stock, restricted stock or stock options.
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Xoma Ltd., the subject of a prominent, front page New York Times Sunday Business section article earlier this year headlined, "It's Alive! One of Biotech's Zombies", is leaving the Zombies behind. The shares of the small cap are up more than 20% on heavy volume. The Times piece described how the 26-year-old company had yet to turn a profit (the overwhelming majority of biotechs don't make money),
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Warren Buffett's company has bought 10.1 million shares of Burlington Northern Santa Fe since Thursday, increasing the legendary investor's stake in the nation's No. 2 railroad to nearly 14.8%.
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The state of Ohio has filed an anti-trust lawsuit accusing Marsh & McLennan, AIG and three other insurers and their subsidiaries of price fixing and other anti-competitive behavior, Attorney General Marc Dann said on Monday.
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Shares of Home Depot rose as much as 2 percent Monday after sources said the home improvement retailer agreed to cut the price in the sale of its supply unit by $1.8 billion to $8.5 billion.
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Home Depot agreed to cut the price in its supply division sale to buyout firms by $1.8 billion, sources said on Sunday, as a housing market drop and a credit crunch forced all sides to renegotiate.
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Shares of Home Depot were up 1.3 percent Friday as investors waited for word about whether a sale was on or off for the home improvement retailer's contractor business.
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BHP Billiton, the world's biggest mining company, said it would seek to grow aggressively in India where volume growth is outstripping China, its other boom market.
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Shares of Thornburg Mortgage, Accredited Home Lenders Holding and other mortgage stocks were trading higher before the opening bell Thursday after Bank of America made a $2 billion investment in Countrywide Financial.
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A federal appeals court ruled Wednesday that former Qwest Communications CEO Joe Nacchio can remain free on bond while he appeals his insider-trading conviction.
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Social networking Website Facebook is working on an advertising system to allow marketers to target users with ads based on the information people reveal about themselves on the site, the Wall Street Journal reported in its online edition early on Thursday.
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Former AOL executive Stephen M. Swad has become the new chief financial officer at mortgage finance giant Fannie Mae, the company said Wednesday. Swad's succession as finance chief, replacing Robert Blakely, had been planned for some time. Blakely stepped down as its chief financial officer last Friday but remains an executive vice president.
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Intuit, the maker of TurboTax software, named a new chief executive on Wednesday and also posted a loss for its fiscal fourth quarter, which is traditionally its weakest. Intuit said that CEO Steve Bennett would step down at the end of December and be replaced by Brad Smith, senior vice president and general manager of Intuit's Small Business Division.
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Shareholder advisory service Proxy Governance recommended Wednesday that TXU shareholders vote in favor of a $32 billion, or $69.25 per share, buyout by a group of investors.
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Late last year, in his first and last interview with CNBC following the blowup of the cholesterol drug torcetrapib, I asked new Pfizer CEO, Jeff Kindler, how he could go from "selling chicken" at Boston Market (he used to run the chain for McDonald's) to "selling drugs". Based on the subsequent vibe I got, it was clear that some of the Pfizer media relations people at the time didn't like the question.
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Pfizer on Wednesday said it named Frank A. D'Amelio, a senior executive of Alcatel-Lucent, as chief financial officer of the drugmaker.
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Delta Air Lines' newly named chief executive, Richard Anderson, foresees further consolidation in the airline industry, but said Delta is not about to make a move to acquire Northwest Airlines.
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Dubai World, the investment holding firm of the Dubai government, will acquire a 9.5 percent stake in MGM Mirage and 50 percent of the casino operator's CityCenter development project for $5 billion, a source familiar with the situation said Wednesday.
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First Magnus Financial, one of the largest independent U.S. mortgage lenders, filed for Chapter 11 bankruptcy protection on Tuesday, the latest home loan provider to collapse as the housing market slumps and credit crisis widens.