TCW to buy MetWest; ousts Gundlach
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Fri 5:53 pm ET
The TCW Group, a $110 billion fixed-income investment firm owned by France's Societe Generale , said late Friday that it agreed to buy rival asset-management firm Metropolitan West Asset Management.
Two bank failures bring year's U.S. tally to 126
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Fri 5:23 pm ET
Two Georgia bank failures brought the U.S. bank failure tally to 126, according to the Federal Deposit Insurance Corporation. Regulators closed the First Security National Bank of Norcross, Ga., and Atlanta's Buckhead Community Bank.
Yahoo, Microsoft finalize search and ad agreement
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Fri 5:22 pm ET
Yahoo Inc. and Microsoft Corp. said late Friday they have finalized their planned Internet search and advertising partnership agreement, following a brief delay. Yahoo and Microsoft first announced the agreement in July, but said in October that they were unable to finalize terms of the deal before a scheduled deadline.
Stocks finish week higher after upbeat jobs data
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Fri 4:13 pm ET
U.S. stocks tallied modest gains on Friday to end up on the week after the government's monthly jobs report had unemployment falling to 10% in November. The report sparked a rally in equities and the dollar, with gains in the latter eventually helping to draw steam out of stocks.
More than 1 billion B. of A. shares trade hands
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Fri 4:08 pm ET
Trading in Bank of America Corp. topped more than 1 billion shares on Friday after the company said it planned to pay back the $45 billion in federal aid it received under the bailout package.
Dell to create new mobile phone division: WSJ
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Fri 3:57 pm ET
Dell Inc. will create a new communications division headed by Ron Garriques to focus on developing mobile phones, The Wall Street Journal reported Friday on its Web site. Garriques is currently president of Dell's consumer division.
Apple in talks to buy music service Lala: report
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Fri 3:26 pm ET
Apple Inc. is in talks to buy privately held online music provider Lala, Bloomberg News reported Friday, citing two unidentified sources familiar with the matter. Lala allows users to tap a large collection of songs for free and buy a Web-based version of songs for a small charge.
Gold ETF tumbles on record trading volume
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Fri 3:06 pm ET
A huge exchange-traded fund that holds gold bullion was down 5% Friday afternoon on record trading volume as the precious metal's price fell after an upbeat jobs report. More than 70 million shares of SPDR Gold Shares traded hands on Friday heading into the final hour of trading -- the highest volume in its history.
S&P upping B. of A. share count in S&P 500
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Fri 2:59 pm ET
Standard & Poor's confirmed Friday afternoon that it is raising the share count for Bank of America in the S&P 500 Index tonight, following the bank's issuance of 1.29 billion new shares.
JetBlue November traffic, capacity rise
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Fri 1:58 pm ET
JetBlue Airways Corp. said Friday that its November traffic rose 7.7% to 2.05 billion revenue passenger miles from 1.9 billion a year ago. A revenue passenger mile equals one passenger flown one mile.
Gold tumbles as dollar surges after positive data
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Fri 1:51 pm ET
Gold futures tumbled 4% Friday, sustaining their first major loss in a robust run since the beginning of November, as the U.S. dollar rose sharply after an upbeat U.S. jobs report. On the Comex division of the New York Mercantile Exchange, gold for December delivery fell $48.60 to end at $1,168.80 an ounce.
Jobs report good news, but not good enough: Obama
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Fri 12:01 pm ET
The drop in the unemployment rate in November to 10% is a piece of rare good news, but it doesn't mean the tough times are over, President Barack Obama said Friday in a speech in Allentown, Pa.