NEW YORK (Reuters) - Financial stocks dragged Wall Street sharply lower on Thursday, wiping out the previous day's Fed-fueled gains, after brokerages downgraded Citigroup and Bank of America, sparking fears of more fallout from the credit crisis.
DETROIT (Reuters) - Chrysler LLC and Ford Motor Co on Thursday reported double-digit drops in October sales, lagging rivals in a slumping U.S. market widely expected to remain under pressure into next year.
MOUNTAIN VIEW, California (Reuters) - Web search leader Google Inc has signed on MySpace, the world's largest social network, to its platform allowing outside software developers to write programs for social Web sites, the companies said on Thursday.
NEW YORK (Reuters) - Sprint Nextel Corp's quarterly profit fell 77 percent as the No. 3 U.S. mobile service lost subscribers and withdrew its 2008 profit growth forecast, sending shares down 2 percent on Thursday.
NEW YORK (Reuters) - CBS Corp reported stronger-than-expected quarterly earnings on Thursday, as strength in its publishing and outdoor advertising businesses overcame depressed results from its radio division.
NEW YORK (Reuters) - Affiliated Computer Services reported on Thursday higher quarterly profit on stronger performance in its commercial and government units, but fell short of Wall Street expectations.
NEW YORK (Reuters) - Exxon Mobil Corp. said on Thursday its third-quarter earnings declined 10 percent, missing expectations on sharply dropping profits from gasoline production and lower natural gas prices.
DETROIT (Reuters) - Chrysler LLC said on Thursday it would cut up to 10,000 hourly jobs over the next 14 months as it slashes production in North America and eliminates four slow-selling vehicles.
NEW YORK (Reuters) - Citigroup Inc shares fell nearly 7 percent on Thursday after Credit Suisse and CIBC World Markets downgraded the largest U.S. bank, with CIBC citing concern Citi might have to cut its dividend to boost capital.
