Prudential shuts down stock research, trading arm
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U.S. insurance company Prudential Financial Inc.  said on Wednesday that it will shut down its institutional stock research and trading business, Prudential Equity Group, ending a rocky 26-year stay on Wall Street.
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Risk is knocking Big Pharma stocks down. They won't be getting up anytime soon.
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FBR Capital Markets, the Arlington investment bank, said yesterday it would lay off 10 percent of its workforce "in response to adverse market conditions."
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Linux supplier Lindows has announced it has called a halt to the initial public offering of its common stock after filing for registration in April.
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Stock falls on news treatment failed a mid-stage trial, company will cease developing drug. NEW YORK  - AtheroGenics Inc.
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Mortgage giant Freddie Mac is shutting down some operations of its debt-securities sales division and transferring others -- moves that experts said should tighten the company's internal controls after an accounting scandal.
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Leading shares closed sharply lower, impacted by losses on Wall Street after weak US economic data raised concerns of a further economic slowdown, with options expiries and UK banking stocks also weighing.
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A contrarian investment strategy known  as "Dogs of the Dow" has been a laggard this year, pulled down  by Citigroup Inc
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U.S. stocks closed lower on Monday as growing concerns about the subprime mortgage market dragged down shares of Bear Stearns Cos.  and Goldman Sachs Group .
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MedImmune Inc.&#39;s cancellation of trials for an arthritis and psoriasis treatment sent the company&#39;s stock lower Monday and helped drag down the entire biotechnology sector.
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The stock market fell sharply last week as the subprime mortgage crisis spilled over into the broad financial markets.
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U.S. stocks fell on Friday as banks and brokers retreated on concerns about the impact of tightening credit on takeovers and the subprime mortgage industry.
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Shares in cancer researcher Peplin Biotech Ltd fell almost 27 per cent in late trading Monday after the company said it would discontinue its collaboration with Allergan Inc for the development of a new skin cancer treatment based on Peplin&#39;s PEP005
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Wall Street stocks seesawed wildly on Wednesday before closing mostly lower after a rating agency lowered its credit outlook on several bond insurers, and cut one to junk, raising fears of further turmoil in credit markets.
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UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically scaling down its exposure to risky investments.
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.
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Leading shares closed lower with defensive stocks such as utilities the major fallers in London, and as Wall Street was sharply down on worries about writedowns and the trade deficit unexpectedly widening.