Monday, Oct. 20, 2008

Treasury Secretary Henry Paulson says the government’s$250 billion plan to buy stakes in banks should make money

Toy Wars: Hasbro posts third-quarter earnings of 89 cents a share and revenue of $1.3 billion, Mattel reports revenue of $238.1 million, or 66 cents per share

Circuit City is reportedly mulling closing 150 stores to avoid filing for bankruptcy protection

Fed Chairman Ben Bernanke tells Congress a second stimulus plan may help the economy get through a slowdown

American Express beats Wall Street estimates, reporting $7.16 billion in revenue for the third quarter

The Dow Jones Industrial Average closes up 413.21 points to 9265.43, the broader S&P 500 adds 44.85 points to 985.40 and the Nasdaq Composite picks up 58.74 points to close at 1770.03

Tuesday Oct. 21, 2008

Yahoo reports its net income fell to $54.3 million and announces it is laying off 10% of its 14,000-person work force.

Ford’s Motor largest individual shareholder outside the Ford family, Kirk Kerkorian, sells 7.3 million shares and may unload the rest of his stake in the struggling auto maker in the future.

Strong iPhone sales help Apple report a profit increase of 26%

The Dow Jones Industrial Average closes down 231.77 points to 9033.66, the broader S&P 500 falls 30.35 points to 955.05 and the Nasdaq Composite loses 73.35 points to 1696.68

Wednesday, Oct. 22, 2008

Oil prices falls below $67 a barrel to hit fresh 2008 lows

McDonald’s beats expectations and posts a net income of $1.19 billion, or $1.05 per share

Wachovia takes a huge hit in the third-quarter with a loss of $23.9 billion

Amazon reportes a 48% jump in net income to $118 million in the third quarter

AT&T’s profits rise 5.5% in the third quarter to $3.23 billion, or 55 cents a share

The Dow Jones Industrial Average slides 514.45 points to 8519.21, the broader S&P 500 falls 58.26 points to 896.78 and the Nasdaq Composite loses 80.93 points to 1615.75

Thursday, Oct. 23

Labor Department reports weekly jobless claims jumped by 15,000 to 478,000; continuing claims fell to 480,250

Drugmaker Eli Lilly swings to a third-quarter loss of$465.6 million

Goldman Sachs is reportedly planning to cut 10% of its32,500 workers

UPS reports a 9.9% drop in quarterly profit

Microsoft reports a 2% increase in net income for its fiscal first quarter with a net income of $4.37 billion, or 48 cents a share

The Dow Jones Industrial Average jumps 172.04 points to 8691.25, the broader S&P 500 adds 11.33 points to 908.11 and the Nasdaq Composite drops 11.84 points to 1603.91

Friday, Oct. 24

Global markets sell of with the Nikkei plunging nearly 10% and Hong Kong's Hang Seng plunged 8.3%

In effort to prop up oil prices OPEC cut daily production by 1.5 million barrels, oil closes at $64.15

Chrysler announces plans to slash 25% of its salaried work force

PNC Financial Services acquires National City for $5.6 billion

Existing home sales jumped 5.5% in September -- highest level in 5 years

The Dow Jones Industrial Average dives 312.30 points to 8378.95, the broader S&P 500 falls 31.34 points to 876.77 and the Nasdaq Composite tumbles 51.88 points to 1552.03