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Stocks closed modestly lower in a volatile session as market participants weighed better U.S. economic data against the fears the Fed may soon start to curtail its bond buying.
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The Fed's statement sparked a big Wall Street rally yesterday that sent investors on a shopping spree in world equities markets.
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Executives from four major subprime lenders -- but not New Century -- will appear at the Thursday hearing, the committee chairman, Christopher Dodd, said in a statement.
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The subprime industry is getting a pretty bad rap, and lenders are concerned U.S. policymakers will overreact, overregulate and actually get into the business of setting lending standards, says CNBC’s Scott Cohn, reporting from the Mortgage Bankers Association’s National Nonprime Mortgage Networking Conference in Carlsbad, Calif.
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AtheroGenics said a heart disease drug it is developing with AstraZeneca, did not meet its primary goal in a large, late-stage clinical trial, but that it will continue its development.
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The brave Spartan soldiers of "300" enjoyed a one-sided victory at the North American box office for a second weekend, making light work of critically lambasted new challenges from Sandra Bullock and Chris Rock.
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In the second part of Cramer’s new series on non-pharma healthcare stocks, he sheds some light on this medical-imaging company.
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Document management company Pitney Bowes said Thursday it will buy MapInfo, a location intelligence company, for $408 million in cash.
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The $31.50-per-share purchase price is about a 13% premium to PHH's closing stock price of $27.81 on Wednesday.
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Countrywide Financial Chief Executive Angelo Mozilo told CNBC's Maria Bartiromo that there's been an "overreaction" to the subprime lending shakeout, though he believes the problem may could get worse before turning the corner.
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Children's clothing retailer Gymboree posted a 26% rise in quarterly profit on increased sales. Gymboree shares jumped more than $2 in after-market trading.
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Media conglomerate Viacom sued Google and its Internet video-sharing site YouTube for more than $1 billion on Tuesday in the biggest challenge yet to the Web search leader's strategy to dominate the online video market.
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New Century Financial's shares fell to an eight-year low on Friday, after analysts said the largest independent U.S. subprime mortgage lender, which faces a criminal probe and has stopped making new loans, may soon seek bankruptcy protection.
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The mortgage lender has also stopped writing new loans to people who do not make down payments, a spokeswoman said.
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General Electric's consumer finance arm plans to close 60% of its manned personal loan branches in Japan and shed up to 400 employees amid an industry-wide slump prompted by tighter regulation.
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If one of your co-workers won the Mega Millions and walked off into the sunset with $370 million, wouldn’t you hate their guts?
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When it comes to technology it seems like everyday we focus on big-screen this, or big-screen that, but today, thanks to Microsoft, I want to take a look at the small screen in your den or the tiny screen in your pocket.
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Koch Industries, the world's second-largest private company, plans to team up with private equity firm Blackstone Group to join the bidding for GE Plastics, according to sources close to the process.
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The Motion Picture Association of America released data Tuesday showing that 63 movies grossed more than $50 million in 2006.
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Federal regulators have warned General Electric's health-care unit about manufacturing problems uncovered during an inspection of an Ohio plant, a letter released today said.
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Yum Brands, the operator of KFC, Taco Bell and Pizza Hut restaurants, said that it engaged a pest control expert for urban settings to review standards for its outlets in New York City.