Stocks Fall, Citigroup Profits Plunge
Stocks are lower on Monday, weighed down by Citigroup’s disappointing earnings.
Citigroup
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PowerRating) reported a 57% drop in third quarter profits, after writing down losses of $3 billion, related primarily to the credit crunch (read more).
Danaher
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PowerRating) agreed to acquire Tektronix
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PowerRating) for $2.8 billion, and revised its earnings outlook for Q3 (read more).
Biogen Idec
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PowerRating) shares are surging, up nearly 21%, after the company put itself up for sale (read more).
Primedia
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PowerRating) is trading sharply lower after revising its 2007 full year outlook (read more).
Shares of Eaton
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PowerRating) are also lower after the company reported third quarter profit rose by 4% but lowered full-year expectations (read more).
Medtronic
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PowerRating) shares are falling after the company suspended distribution of its defibrillation leads, which may have led to the death five patients (read more).
Crude oil hit a record high above $85 per barrel today.
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