Reuters - American Express Co said on Monday third quarter earnings fell more than 20 percent as it set aside more money to cover growing losses in its credit card business, but operating earnings beat analysts' estimates and there was a sigh of relief from investors as results were not as bad as some had expected.
Bernanke warms to 2nd stimulus plan (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke told Congress on Monday that another wave of government spending may be needed as the economy limps through what could be an extended period of subpar growth.
Merrill to cut 500 trading jobs: report (Reuters)
Reuters - Merrill Lynch & Co Inc, which last month accepted a takeover offer from Bank of America Corp, is set to cut about 500 jobs in its trading divisions, Bloomberg News reported on Monday, citing unidentified sources.
RIM shares sag on brokerage reports (Reuters)
Reuters - Research In Motion shares fell as much as 10 percent on Monday after one brokerage said retail sales trends for its BlackBerry smartphones in North America and Western Europe were weaker than hoped and another cut its earnings forecasts.
Wall Street braced for new cuts, weak outlook at Yahoo (Reuters)
Reuters - Things went from bad to worse for Yahoo Inc a long time before the financial crisis spurred a new wave of advertising cutbacks by customers that will cast a pall over its quarterly results on Tuesday.
Wall Street soars on Bernanke and easing credit strains (Reuters)
Reuters - NEW YORK (Reuters) -Stocks rallied on Monday after the Federal Reserve's chairman backed more government spending to help the economy and credit market conditions showed further signs of improvement.