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The Associated Press CINCINNATI - Fifth Third Bancorp shares plummeted 27 percent Wednesday after the regional bank, facing rising loan losses, said it will slash dividends and try to raise $2 billion with a stock offering and sale of noncore businesses.
By Stephen Bernard and Alan Zibel, The Associated Press NEW YORK - Shares of Fannie Mae and Freddie Mac lost more than a quarter of their value on Wednesday as fears mounted that the mortgage financiers will soon need government support and any bailout would hang stockholders out to dry.
West Virginia women's basketball coach Mike Carey, who led the Mountaineers to a No. 7 ranking in The Associated Press Top 25, today was named co-coach of the year in the Big East Conference. He shares the award with Connecticut coach Geno Auriemma, who led the Huskies to a 30-0 regular-season record.
The Associated Press PITTSBURGH - Shares of Mylan Laboratories Inc. jumped nearly 10 percent Friday on early word that the company's largest shareholder made an offer to buy the generic drug maker.
TomoTherapy Inc., a fast-growing Madison-based maker of high- tech medical equipment, is expected to join the ranks of public companies next week when it completes an initial public offering. Tomo filed documents in February with the U.S. Securities and Exchange Commission, saying it expected to sell about $200 million worth of stock to the public. According to The Associated Press, an offering of 10.9 million shares priced between $15 and $17 each is expected to be made next week. That would raise between $163.5 million and $185.3 million. The shares are expected to trade on the Nasdaq market.
The Associated Press SAN JOSE, Calif. - In a debut vaguely reminiscent of the dot-com boom, shares of Internet search giant Google Inc. surged in their first day of public trading Thursday as investors who avoided the company's auction-based offering readily jumped into the familiar territory of the stock market.
HOMES: Executive unloaded 4.9 million Countrywide shares as market slumped. By The Associated Press
Associated Press CHESHIRE -- Shares of Alexion Pharmaceuticals Inc. soared nearly 10 percent Monday as the company priced its recently approved blood-disorder treatment, Soliris, above analyst expectations. The stock gained $3.71 a share, or 9.26 percent, to close at $43.78 on the Nasdaq Stock Market. Shares reached a 52-week high of $45.78 earlier in the trading session.
Nitro's Michael Scott completed 23-of-30 passes for 343 yards and four touchdowns in the Wildcats' 48-10 victory over Parkersburg South Friday night to earn Associated Press player of the week honors. Scott shares the honor with Fairmont Senior's Kyle Allard, who raced across the field to drive East Fairmont's Zach Boone out of bounds at the 2-yard line as time expired to preserve Fairmont Senior's 35-28 win.
Associated Press CORNING, N.Y. Shares of Corning Inc. fell nearly 6 percent Thursday after the company said it will take non- cash charges of as much as $2.9 billion against third-quarter results as its telecommunications unit continues to struggle with industry sluggishness.
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