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Stocks closed sharply lower after earnings disappointments from Caterpillar and Google, as well as continuing concerns about the subprime mortgage market weighed on the major averages. "The market is getting ragged," said Phil Roth, chief technical market analyst at Miller Tabak.
Dow Jones director Dieter von Holtzbrinck is resigning from the board, saying he could not support the company's endorsement of a $5 billion takeover offer by Rupert Murdoch's News Corp.
Dow Jones & Co., which soon could be bought by News Corp. for $5 billion, said one-time charges lowered quarterly profit, while its digital business pushed up revenue despite lower ad sales at its flagship Wall Street Journal.
The U.S. Securities and Exchange Commission plans to file civil charges against Dow Jones board member David Li over an insider trading probe linked to News Corp's bid for the media company, the Wall Street Journal reported on Wednesday.
The U.S. Securities and Exchange Commission plans to file civil charges against Dow Jones board member David Li over an insider trading probe linked to News Corp.'s bid for the media company, the Wall Street Journal reported on Wednesday.
Stocks rebounded in late trading but still finished lower as concern about fallout in the subprime industry put a temporary brake on the Dow's run to 14,000. "Subprime isn't good news, but despite this the market will still rally higher," said Jordan Kotick, global head of technical strategy at Barclays Capital.
Yahoo chief executive Jerry Yang was found wanting on Wednesday by investors who said the company needed to devise a plan to combat weaker advertising growth more quickly than in the 100 days promised by management.
The board of Dow Jones has endorsed a $5 billion buyout offer from Rupert Murdoch's News Corp., sending the deal to the controlling Bancroft family for final approval. The 16 members of the board, which met for several hours Tuesday, were not unanimous in their decision, but a "strong majority" voted to recommend approving the deal, said one source familiar with the matter.
The revelation that two of Bear Stearns' collateralized debt obligation funds are virtually worthless are casting a pall on the overall market this morning. The biggest factor with the subprime prime epidemic is the great unknown of exposure and containment.
Energy investor and financier Boone Pickens says natural gas is the biggest opportunity for his businesses in China now.
While millions eagerly await this Friday's night release of the seventh and final Harry Potter book, photos of what appear to be the book's pages are circulating on the web. It's unclear if the leaked book is the real thing. But, I say that all this talk of leaking and piracy will NOT hurt the hallowed book's release.
Yahoo on Tuesday posted second-quarter earnings of $0.11 per share -- in line with estimates -- and flat with earnings per share of of $0.11 in the same period a year ago. Revenue for the three months ended in June rose 8% to $1.244 billion, compared with $1.123 billion in the second quarter of last year.
The board of Dow Jones will meet at 7 pm Tuesday on the $5 billion takeover offer from Rupert Murdoch's News Corp., CNBC's David Faber reported. The price is expected to remain $60 a share, "not a penny more and not a penny less," Faber said.
Earnings news is helping set the tone as some big positive reports are countering weakness in stocks ahead of inflation data.
Stocks are setting a positive tone ahead of the opening even as oil continues its move up. Merger news, real and rumored, dominates the Monday morning headlines.
A Dow Jones board member who is also part of the family that controls the company has launched a last-ditch effort to block a takeover by Rupert Murdoch's News Corp., the Wall Street Journal reported on Sunday.
Through a collaboration between News Corp.-owned Fox Mobile Entertainment and its acquired mobile entertainment company Jamba, fans of Fox's "The Simpsons" can now purchase ringtones, voicetones, wallpapers and screensavers based on the series just in time for the July 27 release of "The Simpsons Movie."
Google is not interested in pursuing an acquisition of Facebook, Google co-founder Sergey Brin told CNBC, though the entrepreneur left open the possibility that Google would be open to talks with Facebook if the social networking site made the first move.
News Corp. Chairman Rupert Murdoch appeared frustrated Wednesday with the state of talks with Dow Jones & Co., publisher of The Wall Street Journal, saying it was unclear where the company's controlling shareholders stood.
I'm here in Sun Valley, Idaho, where all the movers and shakers in the media business are gathering for the Allen & Co. media conference to schmooze and make deals. This is where seriously big business alliances are born..