Breaking News | Real-time commentary on the market, with links to key sources.
Wednesday, January 7 2009
Page auto-refreshes as new events occur (times are ET)
- 6:26 AM The Fed and several other agencies join the Corporate Fraud Task Force as the Justice Department tries to get tougher on financial crimes. Comment!
- 6:16 AM BoA (BAC) sells $2.8B of shares in China Construction Bank, or 13% of its stake, at a 12% discount to yesterday's closing price. Comment!
- 5:58 AM Lenovo (LNVGY.PK) shares are suspended pending the release of price-sensitive info. Market chatter expects a major restructuring plan as the PC giant faces flagging sales from the global slowdown and competition from aggressive, smaller rivals. Comment!
- 5:30 AM $1/gallon gas? Comment!
- 5:16 AM Satyam (SAY) chairman B. Ramalinga Raju resigns, saying over $1B of Satyam's balance sheet as of Sept. 30 was inflated non-existing cash and bank balances. Managing director B. Rama Raju also resigns. Shares -76.5% premarket. Comment!
- 2:21 AM Yale's David Swensen talks to FBN's Liz Clayman about this market - see video. 1 Comment
- 2:14 AM The Atlantic: 'what if The New York Times goes out of business - like, this May?' Comment!
- 12:10 AM Notable earnings after Wednesday's close: BBBY Comment!
- 12:05 AM Notable earnings before Wednesday's open: FDO, MON, STZ, SVU Comment!
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12:00 AM
Wednesday's economic calendar:
7:00 MBA Mortgage Applications
7:30 Challenger Job-Cut Report
8:15 ADP Jobs Report
10:35 EIA Petroleum Status
1:00 PM Fed's Hoenig speaks on U.S. economic outlook Comment!
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