Reports on consumer confidence, GDP tug on stocks
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AP
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16 minutes ago A lackluster report on consumer confidence is adding to the market's uneasiness about the economy. The Conference Board says its Consumer Confidence Index increased slightly to 49.5 in November, up from a revised reading of 48.7 in October.
Economy's rebound not as strong as first thought
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AP
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1 hour, 24 minutes ago The economy grew at a 2.8 percent pace last quarter, as the recovery got off to a slower start than first thought. The Commerce Department's new reading on gross domestic product wasn't as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.
Banks earn $2.8B in 3Q; insurance fund in the red
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AP
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30 minutes ago Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red.
Home prices rise for 4th month in a row
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AP
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1 hour, 2 minutes ago Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the housing market recovery is continuing.
Consumer confidence improves slightly in November
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AP
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20 minutes ago Americans' confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the traditional start of the holiday shopping season amid a weak job market, according to a monthly survey.
Heinz 2Q profit falls, but sales improve
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AP
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2 hours, 18 minutes ago H.J. Heinz Co.'s second-quarter profit dropped 16 percent from last year, when the company's results were boosted by currency shifts.
Citigroup sells Diners Club N. American ops
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AP
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1 hour, 47 minutes ago Citigroup Inc. said Tuesday it is selling its Diners Club North American franchise to BMO Financial Group as it continues to shed noncore assets and streamline operations.
Barnes & Noble reports 2Q loss, cuts guidance
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AP
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1 hour, 6 minutes ago Barnes & Noble on Tuesday posted a loss in the fiscal second quarter and lowered its guidance due to expected weak holiday sales and higher-than-expected costs to ramp up production of its electronic book reader, the Nook.
US Airways defers delivery of 54 aircraft
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AP
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36 minutes ago US Airways is delaying delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. The Tempe, Ariz. company says that instead it will take delivery of 28 planes over the next three years.
Windstream to buy Iowa Telecom for $1.1 billion
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AP
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35 minutes ago Phone company Windstream is buying Iowa Telecommunications Services for $1.1 billion in cash and stock. Windstream Corp. said Tuesday that the acquisition of Telecommunications Services Inc. will expand its operations into Iowa and Minnesota, adding about 256,000 phone lines, 95,000 high-speed Internet customers and 26,000 video subscribers.
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