Markets
Bargain hunters lift stocks, but Citi sinks (Reuters)
Stocks rose in choppy trade on Friday as investors snapped up cut-price shares in beaten down sectors, including commodities and energy, a day after Wall Street slid to 11-year lows. Read
US gas prices dip below $2 as oil prices waver (AP)
The national average price for gasoline tumbled below $2 a gallon Friday, its lowest point in more than three years, yet the global economic contrast between then and now could not be more stark. Read
Sector Snap: Airline stocks (AP)
Airline stocks were mostly higher Friday after a dismal week, as they shrugged off an increase in oil prices and rose on a bounce in the broader market. Read
European stocks drop as Dow erases early gains (AP)
European markets fell further Friday as early gains on Wall Street were wiped out amid mounting fears about the U.S. economy and the future of banking giant Citigroup Inc. in particular. Read
Smucker's shares up 7 percent on 2Q profit beat (AP)
Shares of jelly and jams maker J.M. Smucker Co. soared 7 percent Friday after the company said its second-quarter profit and revenue rose, benefiting from more consumers eating at home. Read
USG shares jump after Warren Buffet boosts stake (AP)
Shares of USG Corp. jumped Friday after the maker of gypsum wallboard and other building supplies said it is raising $400 million, much of it from Warren Buffett's Berkshire Hathaway Inc. Read
Stocks show moderate decline after sell-off (AP)
Wall Street sagged again Friday but took a break from the heavier selling of recent days as energy, utility and technology stocks showed some advances and bank stocks declined. Read
Oil hovers at $50 (CNNMoney.com)
The price of oil fell further Friday, after settling at a 5 1/2 year low in the previous session, as volatile stock prices raised concerns about waning global energy demand. Read
Citigroup shares drop as CEO plans to keep Smith Barney (Reuters)
Citigroup Inc shares tumbled for a fifth straight day, as Chief Executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence. Read
Sector Snap: Movie cos. may gain from holidays (AP)
Although consumers have cut discretionary spending amid a deteriorating economy, shares of movie companies will likely climb following a market rebound due to a bevy of upcoming high-profile films and pending digital improvements, an analyst said Friday. Read
Celanese shares plunge after 2008 guidance pulled (AP)
Shares of Celanese Corp. plunged to an all-time low Friday after the industrial chemicals maker pulled its 2008 earnings guidance on waning customer demand, leading an analyst to cut his rating. Read
Delta to trim future US, international capacity (AP)
Nine days after announcing new overseas routes for 2009, Delta Air Lines Inc., the world's biggest carrier, said in a regulatory filing Friday it plans to reduce future domestic and international capacity because demand for seats has slowed amid the global financial crisis. Read
AbitibiBowater shares surge on word of new demand (AP)
Shares of AbitibiBowater Inc., one of the world's largest suppliers of pulp, surged Friday on reports that China has resumed buying pulp after a three-month hiatus. Read
Freddie Mac gets delisting notice from NYSE (AP)
Mortgage finance company Freddie Mac said Friday it received a noticed that it may lose its listing on the New York Stock Exchange because its share price has been under $1 for more than 30 days. Read
Ahead of the Bell: Aerospace cos. downgraded (AP)
Airline and industry data suggest that shares of commercial aerospace companies are unlikely to recover soon, an FBR Capital Markets analyst said Friday. Read
Ahead of the Bell: Hewlett-Packard (AP)
A Goldman Sachs analyst added Hewlett-Packard Co. to his "Conviction Buy" list Friday, saying its diverse product lines and cost-cutting abilities should allow the computer company to show solid results despite a decline in tech spending. Read
Premarket roundup: Goldman Sachs, Citigroup (AP)
Shares of Goldman Sachs Group Inc. hovered above their 1999 initial public offering price of $53 in premarket trading Friday as the investment bank continues to fight off fears surrounding its financial health. Read
Ahead of the Bell: Gap upgraded (AP)
Gap Inc.'s tight control on merchandise costs and other expenses will likely benefit the retailer in upcoming quarters, an analyst said Friday, and upgraded the stock to "Buy." Read
UK electronics retailer DSG's shares jump 40 pct (AP)
Shares in DSG International PLC soared 40 percent Friday from a 20-year low after Credit Suisse raised its rating of the stock to "outperform" on the basis that market concern over the economic slowdown had left the stock overly cheap. Read
Ahead of the Bell: Dell revenue worries analysts (AP)
Analysts cut their projections for Dell Inc. Friday as concern mounted about the company's revenue amid a global slowdown in computer sales. Read
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