Word on the Street
Another confidence indicator is taking a dip despite expectations for an increase. The homebuilder confidence index fell in October as concerns about home sales increased. Builders are starting to fret more now that the expiration of the first-time homebuyer credit is quickly approaching. The dollar slightly came off earlier lows following the release of the report. In other housing news, the Obama administration launched a new program to help state and local housing finance agencies provide hundreds of thousands of affordable mortgages.
Sprint (S) has put another acquisition under its belt. The third- biggest US wireless carrier agreed to acquire iPCS (IPCS) for $831 million, including the assumption of $405 million in net debt. This deal will squash the legal battle that has been brewing between the two since the acquisition of Nextel.
Despite record profits, the banks are not alright . Investors were hopeful that the end of heavy losses from soured loans might be closer, but BB&T Corp. (BBT) crushed those dreams after releasing its third-quarter results. The bank reported a 56% decline in profit as a result of a rise in delinquent loans.
Billionaire Carl Icahn is far from impressed with CIT's (CIT) reorganization plan. Mr. Ichan wrote a scathing letter to the troubled lender. He described the board of directors as "incompetent and unconscionable", but still offered the company a $6 billion lifeline .
A jury has ordered Exxon Mobil Corp (XOM). to pay nearly $105 million in damages to New York City in a lawsuit over alleged groundwater contamination. The oil and gas giant probably keeps that much cash in its petty cash fund.
Hasbro Inc. (HAS), the world's second- largest toymaker, posted better-than-expected third-quarter earnings. The company was able to benefit from sales of toys related to the Transformers and GI movies.
The New York Times is the latest company to announce another round of layoffs. The company is seeking to eliminate around 8 percent of its editorial staff by the end of the year. The cuts will be in the form of buyouts offered to both union and non-union staff.
First it was the balloon boy hoax and now the US Chamber of Commerce is saying that a news release bearing its logo was fraudulent . The falsified press release suggested that the group was reversing its stance against pending climate change legislation.
Other Juicy Tidbits
Times are tough and you may want to stop contributing to your 401(K) plan. Here's why you should continue contributing .
Is Goldman Sachs the New GM? -- How the bank became the brand we love to hate.
What we think we know will get us into trouble: Five myths debunked.
Today is the twenty-second anniversary of Black Monday. On this day in 1987 stock markets around the world crashed. What lessons have we learned ?
In today's tough housing market, some sellers are looking to cut costs by selling their property without using a real estate agent. Should you really sell your home without an agent ? | 
