WASHINGTON-- Investors withdrew money from stock mutual funds for the 12th consecutive week during the period ended Oct. 10, although cash was pulled out at a much slower pace than during the previous week. Investors withdrew a net $2.3 billion from U.S. stock funds, the Investment Company Institute said in a preliminary report Wednesday.
HOUSTON-- Kinder Morgan Inc. said Wednesday its third-quarter net income rose nearly 32 percent as the nation's largest natural-gas pipeline operator benefited from its acquisition of El Paso Corp in May.
MINNEAPOLIS-- Select Comfort Corp.' s shares dropped in after-hours trading Wednesday after the mattress company issued a disappointing full-year revenue forecast. Select Comfort said that its third-quarter profit increased by 52 percent on stronger sales. Select Comfort made $26.2 million, or 46 cents per share, in the quarter that ended Sept. 29.
MINNEAPOLIS-- Investment bank Piper Jaffray Cos. said Wednesday that it turned a profit in the third quarter on stronger results from both its capital markets and asset management businesses. Piper Jaffray said revenue for its capital markets business climbed 42 percent on increased equity financing and fixed-income financing revenue.
The Fast Money traders take a look at today's biggest market movers.
Today's market action, with the Fast Money traders; and Aaron Kessler, Raymond James internet analyst, explains the outperform rating and $53 price target he has on eBay.
NEW YORK-- Wanted: A few good recruits to serve coffee and help combat terrorism at 30,000 feet. American Airlines said Wednesday that it will post job openings for 1,500 flight attendants next month. The departing flight attendants all started working before the Sept. 11 terrorist attacks that included the crashes of two American Airlines jets.
OMAHA, Neb.-- Trucking and logistics company Werner Enterprises Inc. said on Wednesday that its third-quarter net income fell 15 percent because of weak demand for freight hauling and rising fuel prices. The company earned $25.1 million, or 34 cents per share, for the quarter that ended Sept. 30.
NEW YORK-- A surprisingly strong housing report helped push the stock market mostly higher Wednesday, while weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. Better results from Mattel, Goldman Sachs, and Johnson& Johnson shot the stock market higher Tuesday.
LOS ANGELES-- American Express Co. said Wednesday that its net income rose 1 percent in the third quarter, aided by lower expenses and increased spending by the credit card issuer's customers. In the second quarter, American Express' revenue grew 5 percent from a year earlier.
SAN DIEGO-- Home foreclosure activity in California fell to a new five-year low in the third quarter as rising prices eased pressure on homeowners and lenders, a research firm said Wednesday.
NEW YORK-- A Bangladeshi man who came to the United States to wage jihad was arrested in an elaborate FBI sting on Wednesday after attempting to blow up a fake car bomb outside the Federal Reserve building in Manhattan, authorities said.
NEW YORK-- IBM's stock is down more than 5 percent after the company reported disappointing third-quarter revenue and suggested demand in key markets may be slowing. Shares are down $10.69, or 5.1 percent, to $200.31 in late afternoon trading. It came to $24.7 billion, $700 million less than analysts expected.
OMAHA, Neb.-- Irrigation system maker Lindsay Corp. said Wednesday that its fiscal fourth-quarter net income jumped 48 percent, boost by higher demand from farmers. For the quarter ended Aug. 31, the Omaha, Neb.- based company made $8.8 million, or 68 cents per share, up from $5.9 million, or 46 cents per share, in the same quarter last year.
CHICAGO-- Grains futures rose Wednesday on the Chicago Board of Trade. Wheat for December delivery gained 8.5 cents to $8.5625 per bushel; December corn rose 7.25 cents to $7.455 per bushel; December oats increased 3.25 cents to $3.9575 per bushel and November soybeans gained 15.5 cents to $15.0925 per bushel.
Cotton for December delivery surged 3 cents, its daily limit, to 77.86 cents per pound. Jack Scoville of Price Futures Group said the gain came on speculative buying and rumors of short supplies.
NEW YORK-- Celebrating a design 40 years in the making, dignitaries on Wednesday dedicated a new memorial park to President Franklin Roosevelt overlooking the United Nations that he helped found.
NEW YORK-- Can't figure out how to dress as a binder full of women for Halloween? The Yellow One is flying off the shelves after Mitt Romney's threat to do away with government support for PBS.
NEW ORLEANS-- The NFL is again urging a federal judge to avoid interfering in Commissioner Roger Goodell's efforts to discipline four players for the Saints' cash-for-hits bounty pool.
NEW YORK-- Shares of St. Jude Medical Inc. declined Wednesday after the medical device maker cut its 2012 revenue estimate and said it may get a warning from federal regulators about a defibrillator plant in California.