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Tag Archives: wall street

Feds throw support behind lawsuit against JPMorgan

WASHINGTON — The federal government on Tuesday threw its support behind a lawsuit against JPMorgan Chase accusing Bear Stearns, the investment bank JPMorgan bought in 2008, of engaging in massive fraud in deals involving billions in residential mortgage-backed securities. At ...

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Facebook shares sink to new low after Q2 results

NEW YORK — Facebook’s stock hit a new low Friday after it reported lukewarm second-quarter results and didn’t give an outlook for the coming months. The stock fell $2.88, or nearly 11 percent, to $23.97 in afternoon trading Friday, after ...

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Facebook’s stock tumbles after 1st public quarter

NEW YORK — Facebook’s first earnings report as a public company had solid numbers, but in the end it landed with a thud — much like its rocky initial public offering two months ago. Facebook reported stronger-than-expected revenue and a ...

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Apple shares retreat after rare earnings miss

NEW YORK — Apple’s stock fell Wednesday after the company did something un-Apple-like: posting results below Wall Street expectations. Late Tuesday, Apple Inc. reported that in the latest quarter, earnings rose a mere 21 percent from the year before, not ...

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Morgan Stanley closes a bleak bank earnings season

NEW YORK — It’s tough being a big bank these days. Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobbered ...

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Marriott profit grows, but growth slowing in Asia

NEW YORK — Marriott International Inc. is betting that it can grow earnings this year through higher bookings and rates despite slowing growth overseas The Bethesda-based hotel company raised its profit expectation for the full year but reined in its ...

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Retailers report tepid sales for June

NEW YORK — Retailers could be sweating it out this summer. Shoppers, worried about jobs and the economy, pulled back on spending in June, slowing sales for most retailers to the weakest pace since 2009. And that could leave merchants ...

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