From Million Dollar Wiki
- Dow Plunges More Than 300 Points
- 8/8/07 Wall Street plunged again Thursday after a French bank said it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets. The Dow Jones industrials fell more than 380 points, according to preliminary calculations...
- Another subprime implosion slams markets
- 8/9/07 The Dow plunges on news that French bank BNP Paribas suspends three funds because of problems in the U.S. subprime market. Campbell's Soup is considering a sale of its Godiva Chocolatier business. News Corp. reports a profit, thanks to strong revenue from its cable division.
- Stocks Off Lows But Still Down Sharply Amid Subprime Worries
- 8/9/07 Stocks are off of session lows, but still firmly in negative territory, after three French hedge funds suspended redemptions due to problems in the U.S. subprime mortgage market. "What you want to find out is who has the most exposure to the credit derivative markets," said Arthur Hogan, managing director at Jefferies. "We don't know exactly how much damage has been done and how much follow-through there will be from subprime up the credit ladder."
- Stocks Slide Amid Credit, Economic Fears
- 8/3/07 Stocks fell sharply Friday amid fresh concerns that soured subprime mortgages will ignite a credit crunch and following weaker-than-expected economic readings. The Dow Jones industrials fell more than 230 points...
- Easy Money, Lifeblood Of Economy, Is Drying Up
- 7/26/07 In just a few days, shares of Internet travel company Expedia lost 12 percent of their value, one of the highest-flying executives on Wall Street watched his fortune shrink and the nation's largest mortgage lender said many Americans with good credit were in danger of losing their homes.
- Stocks Continue Slide Despite GDP Report
- 7/27/07 Wall Street extended its steep decline Friday, propelling the Dow Jones industrials down more than 500 points over two days after investors gave in to mounting concerns that borrowing costs would climb for both companies and homeowners. It was the Dow's worst week in nearly five years.
- Merck and big deals spark rebound
- 7/23/07 Merck was easily the day's star, jumping nearly 6.8% to $52.33. The gain was worth 30 points to the Dow, or nearly a third of the day's gain. Twenty-three of the 30 stocks were higher. Caterpillar and Alcoa were the laggards, down 1.44% to $82 and 1.46% to $42.45, respectively.
- OxyContin Maker, Execs Fined $634.5M
- 7/20/07 Purdue Pharma L.P., the maker of OxyContin, and three of its executives were ordered to pay a $634.5 million fine on Friday for misleading the public about the painkiller's risk of addiction.
- Google open to wireless bid
- 7/20/07 Google has disclosed for the first time that it is prepared to bid in a forthcoming auction of wireless spectrum in the US, a move that could eventually mean it will emerge as a fully fledged operator of a wireless communications network.
- Citigroup Profit Rises, Led by Gains Outside the U.S.
- 7/20/07 Citigroup Inc., the world's biggest bank, said second-quarter earnings increased 18 percent, topping analysts' estimates, on record revenue from Asian and European markets.