Microsoft shares soared 11 percent as it reported first-quarter earnings that rose 29 percent and easily topped forecasts. The software giant earned 45 cents a share, up from 35 cents a year ago. Complete Earnings CoverageÂ
Oil roared to a new record over $90 Thursday as tight inventories and fresh signs OPEC will shrug off calls for additional oil from big consumer nations sent prices up more than 3 percent.
Sales of new single-family U.S. homes rose 4.8 percent in September but sales in August were revised down sharply, Â painted a mixed picture of the battered housing sector.
With recession fears becoming more entrenched, Â investors will be scanning earnings releases to take the temperature of corporate America. What's important is the outlook.
Wendy's International said its net income fell, but earnings before restructuring and other expenses rose 55 percent due to a menu price increase and cost controls.
Bank of America on Wednesday said it plans to eliminate 3,000 jobs, and that the head of corporate and investment banking will depart after a dismal quarter at that unit led to a 32 percent drop in overall profit.
Chinese Internet company Baidu.com on Thursday posted a sharp rise in quarterly profit on sales fueled by exploding demand for online advertising in the world's second largest Internet market.
American billionaire investor Warren Buffett said Thursday he remains negative on prospects for the U.S. dollar and that problems in the U.S. subprime mortgage sector may continue to cause problems for some time.Â
Two former officers at a company that supplies body armor to the U.S. Army face charges they inflated the company's stock price and made nearly $200 million in the process.
Shares of WellCare Health Plans plunged as much as 61 percent Thursday, a day after federal and state government agents searched its headquarters in Tampa, Florida.
