Tech Stocks Lead Market Lower
Stocks reversed course during the afternoon to close lower, with tech stocks remaining especially weak.
International Business Machines
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PowerRating) agreed to acquire Cognos
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PowerRating) for $5 billion in cash (read more).
Blackstone Group
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PowerRating) reported a loss for the third quarter, with costs associated to its IPO were primarily responsible (read more).
E*TRADE Financial
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PowerRating) shares are being hammered, currently down by more than 53%, after the company announced on Friday that it expects bigger write-downs in Q4 (read more).
Dubai Aerospace Enterprise ordered 100 airplanes from Boeing
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PowerRating) and Airbus, worth a combined $27.2 billion (read more).
In Pakistan, President Pervez Musharraf announced that parliamentary elections would be held before January 9, 2008 (read more).
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