NEW YORK (Reuters) - Stocks snapped a five-day losing streak on Wednesday, with the Dow surging nearly 300 points on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses.
SAN FRANCISCO (Reuters) - EBay Inc warned that results for the current quarter and year would fall below Wall Street expectations, spoiling strong 2007 year-end results and the planned departure of long-serving Chief Executive Meg Whitman.
WASHINGTON (Reuters) - Student lending company SLM Corp , or Sallie Mae, said on Wednesday the U.S. Securities and Exchange Commission is investigating the company's disclosures in December 2007, before and after executives and directors traded in its stock.
NEW YORK (Reuters) - Sovereign Bancorp Inc , the second-largest U.S. savings and loan, on Wednesday posted a $1.6 billion quarterly loss and canceled its dividend following a larger-than-expected write-down for consumer credit losses and a 2006 bank acquisition.
NEW YORK (Reuters) - Capital One Financial Corp , a credit card issuer and bank, said on Wednesday that fourth-quarter earnings fell on rising credit card loan losses and losses related to a shut-down mortgage unit.
SEATTLE (Reuters) - Symantec Corp reported an increase in quarterly profit on Wednesday, boosted by strong overseas sales, and forecast current-quarter results above Wall Street estimates, sending its shares up 9 percent.
NEW YORK (Reuters) - Motorola Inc said on Wednesday it will post an operating loss in the current quarter as its cell phone business is taking longer than expected to turn around, dashing Wall Street hopes for a profit and sending its shares down as much as 23 percent.
NEW YORK (Reuters) - Stryker Corp , which this week said it was recalling some of its artificial hip products, on Wednesday reported fourth-quarter profit rose 21 percent on increased sales of its orthopedic implants and surgical equipment.
SAN FRANCISCO (Reuters) - Qualcomm Inc posted a higher quarterly profit on Wednesday due to demand for its mobile phone chips, and its shares rose 6.5 percent.
DETROIT (Reuters) - General Motors Corp on Wednesday reported worldwide sales of 9.37 million vehicles in 2007, coming in just ahead of Japanese rival Toyota Motor Corp in a closely watched race for the top spot in global sales.
