NEW YORK-- The federal government has sued Wells Fargo in a New York court, accusing the nation's largest mortgage lender of misrepresenting the quality of thousands of loans in order to be eligible for federal loan insurance.
NEW YORK-- Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings. The slide came on the five-year anniversary of record high closes for the Dow and S&P 500.
NEW YORK-- Shares of BioLineRx jumped nearly 11 percent Tuesday after the company released results from a new clinical trial of its schizophrenia drug. The company reported the initial results from the study in September 2009. BioLineRx shares gained 32 cents to $3.35.
Oct 9- New York City's securities industry earned $10.5 billion in the first half of 2012, down from the first half of 2011, though it is on pace to end the year with $15 billion of profits, barring adverse developments, a report by the state comptroller said on T ues day.
NEW YORK, Oct 9- Yum Brands Inc:.
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Oct 9- Levi Strauss& Co reported lower quarterly revenue and profit, as economies in Europe and Asia slowed and the company phased out its Denizen brand in Asia. Overall, net revenue for the three months ended August 26 fell 8.6 percent to $1.1 billion, while net income at the privately held clothes maker slipped to $28 million from $32 million a year earlier.
NEW YORK-- Shares of Optimer Pharmaceuticals tumbled 6 percent Tuesday as Wall Street weighed in on the company's marketing strategy and sales of its antibacterial drug Dificid. On Tuesday Oppenheimer& Co. analyst Christopher Holterhoff downgraded Optimer shares to "Perform" from "Outperform," and said he is not convinced the plan will work.
Trades cleared through a Nasdaq-operated trading facility sparked sharp moves in either direction in a number of seemingly unrelated stocks, including Pandora Media, Nokia and the Select Sector Financial SPDR exchange-traded fund.
NEW YORK, Oct 9- U.S. stocks fell on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies as worries increased about third-quarter U.S. earnings. The Dow Jones industrial average fell 110.20 points, or 0.81 percent, to end unofficially at 13,473.45.
NEW YORK, Oct 9- Alcoa Inc:.
NEW YORK-- Stocks are ending lower on Wall Street after a weak forecast for global growth from the International Monetary Fund. Now investors turn their attention to corporate earnings reports. Aluminum company Alcoa is set to report its results first.
In its latest forecast, the International Monetary Fund said Tuesday that the global economy is weakening and will grow more slowly in the next year. The euro fell to $1.2880 in late trading Tuesday from $1.2967 late Monday. The dollar rose to 0.9404 Swiss franc from 0.9330 Swiss franc and to 97.76 Canadian cents from 97.66 Canadian cents.
NEW YORK, Oct 9- Short interest on the Nasdaq fell 2.7 percent in late September, the exchange said on Tuesday, suggesting a decline in bearish sentiment in the stock market. As of Sept. 28, short interest slipped to about 7.401 billion shares, compared with 7.607 billion shares as of Sept. 14.
NEW YORK, Oct 9- Small- and mid-capitalization stocks fell o n Tuesday, with shares of Super Micro Computer Inc. Shares of Super Micro Computer were down 11.7 percent at $9.39 after it said revenue for its first quarter will be at the lower end of its forecast. Third-quarter results for S&P 500 companies begin after the bell with a report from aluminum company Alcoa.
*Growth, Greece worries stoke safety bids for bonds. The International Monetary Fund warned that the United States faces meager growth of about 2 percent this year and next and predicted the euro zone economy would shrink 0.4 percent in 2012. It downgraded its outlook on China, the world's second-largest economy.
NEW YORK-- Small business owners may be pessimistic about the economy and their own companies right now, but they're getting optimistic about the future. A survey released Tuesday by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak.
NEW YORK, Oct 9- U.S. natural gas futures reversed course and ended higher on Tuesday after early selling, backed by a colder turn in computer weather model projections released at midday. "It's all about weather, and it looks like the noon run turned a bit colder for the 11- to 15- day forecast," a New York- based trader said.
*Cotton market awaits USDA supply/demand report Thursday. The benchmark contract traded in a range from 71.41- 72.53 cents, finding resistance just above the 100- day moving average at 72.39 cents.
*Terms of the deal with Phillips 66 not disclosed* Terminal has 5 million barrels of storage capacity* It is located 80 miles east of New York Harbor.