Losing Streaks continues for Wall St.
Wall Street's stock selloff continued Monday with the Dow industrials finishing below 13,000 for the first time in months, as some financial sector strength and lower crude oil prices failed to calm jittery investors.

Wall St. on credit, economic watch
U.S. stock futures were slightly lower Monday morning even as oil prices retreated, as investors attempted to recover from last week's steep drop and braced for a batch of economic reports and potential additional woes from top financial firms.

U.S. Stocks Gain, Led by Banks; Citigroup, Wal-Mart, IBM Rise
U.S. stocks rose for the first time in four days after investors snapped up shares of banks, brokerages and department stores that had fallen to their cheapest valuations in at least 12 years.
Citigroup Inc., Bank of America Corp. and Wal-Mart Stores Inc. led the gains. International Business Machines Corp., the world's largest computer-services company, climbed the most since August after agreeing to buy business-software maker Cognos Inc. in the biggest takeover of a technology company in a month. IBM to buy Cognos for $5 Billion
In hopes of keeping pace with rivals in the field of "business intelligence" software, IBM Corp. said Monday it plans to buy Cognos Inc. for $5 billion in cash. Cognos (Charts) shares rose nearly 8 percent in pre-market trading.

HP To Acquire Data Center Cooling, Energy Specialist EYP
Hewlett-Packard (NYSE: HP) on Monday said it has agreed to buy EYP Mission Critical Facilities, a consulting company that specializes in data center cooling and energy efficiency. Financial terms were not disclosed.

Adobe Names Narayen New CEO
Design and publishing software maker Adobe (ADBE: 42.19, -1.05, -2.4%) said current Chief Executive Bruce Chizen will be replaced by President and Chief Operating Officer Shantanu Narayen on Dec. 1.

Blackstone shares off after reporting losses

Blackstone Group LP (BX.N: Quote, Profile, Research) on Monday reported a quarterly loss from charges and posted a 44 percent drop in real estate revenues, missing analysts' estimates and sending its shares down more than 6 percent.


MySpace invites Facebook to new OpenSocial Platform
MySpace has invited Facebook, its key rival, to join OpenSocial, a newly-launched technical platform designed to encourage web developers to create content for a wide variety of social networking sites.


Google offers $10 million for best mobile programs
With no Gphone and no mobile customers in sight, Google is offering a good reason for developers to build high-quality applications for its new Android mobile platform - $10 million in cash prizes.

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This entry was posted by David Choi, on Monday, November 12, 2007. You can leave your response.