Stocks open lower after BofA, Citi and GE beat estimates but still show some weaknessesNEW YORK — More mixed signals on the economy and earnings reports are sending stocks lower in early trading. Citigroup records profit, breaking six quarter slumpNEW YORK - The sale of its controlling stake in a brokerage helped Citigroup Friday to surprise analysts and announce $4.3 billion of net income in the second quarter of 2009, after six quarters of falling ever further into the red. Stock futures modestly higher ahead of key earnings and economic reportsNEW YORK — Stock futures were higher Tuesday as investors welcomed better-than-expected quarterly results from Johnson & Johnson and await a report from banking giant Goldman Sachs Group Inc. Downturn dynamics: New firms use Indian back officesBANGALORE - Economic meltdown and the US financial crisis have triggered a new trend: while many Western firms are selling off back office operations in India, a clutch of others are rushing in to reap the benefits. Western firms shutting shop in India: WSJWASHINGTON - Many Western companies have recently sold or closed back-office facilities in India, reversing a decade-long trend as companies look to slash costs and eliminate headaches during the recession, according to the Wall Street Journal. Wall Street starts June with a rally after upbeat data on construction spending, manufacturingNEW YORK — The stock market began June with a big rally, thanks to another wave of encouraging economic data. Wall Street falls on swine flu, banking fearsNEW YORK - Major US stock indices fell for a second straight day Tuesday as concerns over the economic impact of a growing swine-flu outbreak and the state of US banks overshadowed a massive jump in consumer confidence. |
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