Stocks Continue to Slide, Shake-up at Citigroup
Stocks are lower on Monday, but well above the worst levels of the morning, as credit worries continue to ripple across the financial markets. Overnight trading in Asia saw stocks fall heavily, and the selling continued in Europe.
Citigroup
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PowerRating), which fell heavily last week, is today’s top story after Robert Rubin was appointed chairman and Sir Win Bischoff interim CEO. Charles Prince resigned after the company announced huge losses on Friday (full story).
Dell
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PowerRating) is buying EqualLogic for $1.4 billion (read more).
IAC
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PowerRating) announced plans to split into five separate businesses (read more).
Burger King Holdings
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PowerRating) reported Q1 profit rose 23% on 10% revenue growth (read more).
StemCells
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PowerRating) Q3 loss widened on higher expenses (read more).
EnCana announced a deal to buy Deep Bossier for $2.55 billion (read more).
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