Today's Winners and Losers on Wall Street
From the Associated Press, here are today's biggest winners and losers on Wall Street. The Dow is up 141 points.
Wachovia Corp., up $2.70 at $6.61
Wells Fargo agreed to buy the bank for $15.1 billion, setting up a fight with Citigroup, which had its own deal with the bank in place.
Citigroup Inc., down $2.58 at $19.92
Its stock sank following the Wells Fargo deal for Wachovia, and Citi said it is considering a lawsuit and may sweeten its bid.
American International Group Inc., up 53 cents at $4.53
The insurer said it will sell business units to pay off a massive government loan but retain its U.S. property and casualty unit.
Anheuser-Busch Cos., up 52 cents at $65.10
The brewer expects quarterly earnings to rise at a low double-digit rate, helped by higher prices and sales of Bud Light Lime.
Metlife Inc., up $2.92 at $43.88
The insurer led a rebound in the sector after analysts raised their ratings following steep declines Thursday on liquidity concerns.
Family Dollar Stores Inc., up 88 cents at $25.08
The retailer said quarterly profit rose 41 percent, beating expectations, as shoppers rushed to buy consumables in a softening economy.
UBS AG, down 23 cents at $19.87
The Swiss bank will cut 2,000 jobs at its troubled investment banking unit, most of which will be lost in the U.S. and Britain.
McDonalds's Corp., down 55 cents at $61.33
Analysts warned casual dining chains will suffer on economic weakness, but said global fast-food chains are better positioned.
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