Friday, November 7, 2008

Steven Wevodau - Munich Re 3Q profit plummets, 2008 target dropped (AP)

Munich Re 3Q profit plummets, 2008 target dropped (AP)
AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.

AIG jumps on report of possible change in loan terms (Reuters)

The logo of American International Group (AIG) is seen at their offices in New York September 22, 2008. (Eric Thayer/Reuters)Reuters - Shares of American International Group advanced 9.6 percent to $2.05 in premarket trade after the Wall Street Journal said federal officials were considering a possible change in the terms of an $85 billion loan to the troubled insurer.

Ford posts $3 billion loss, Toyota shares dive (Reuters)

Frank Thomas, a Ford Motor Co. assembly worker, works on the frame of the 2009 F-150 pickup truck at Dearborn Truck Plant in Dearborn, Michigan October 30, 2008. (Rebecca Cook/Reuters)Reuters - Ford Motor Co posted a $2.98 billion quarterly operating loss and shares in world No. 1 automaker Toyota Motor Corp (7203.T) plunged on Friday after it warned this year's profits would hit a 13-year low.

Chrysler cash drains away as crisis deepens: sources (Reuters)

A Chrysler vehicle is shown for sale in Carlsbad, California, October 29, 2008. (Mike Blake/Reuters)Reuters - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can't clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.

Stock futures bounce on bargain search; data eyed (Reuters)

Traders work on the floor of the New York Stock Exchange, November 6, 2008. (Brendan McDermid/Reuters)Reuters - Stock index futures rose on Friday as a slide of the past two sessions prompted investors to scour the market for beaten-down shares, but trading was cautious before the government's report on October non-farm payrolls.

Sprint posts quarterly loss, customers flee (Reuters)

Dan Hesse, president and CEO of Sprint Nextel, speaks during a keynote address at the CTIA Wireless convention in Las Vegas, Nevada April 1, 2008. (Steve Marcus/Reuters)Reuters - Sprint Nextel Corp , the No. 3 U.S. mobile service, on Friday posted a third-quarter loss and a 12 percent drop in revenue as customers fled to rival services.

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