Market Gawk

Bank of America abruptly notified cardholders in good standing their rates would skyrocket if they didn’t opt out fast. Is BofA greedy or needy?

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Medicare and Medicaid reimbursement get lower. Nursing shortages are acute. And costs keep rising.

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The US Treasury inflation securities market is currently playing down concern about inflation and focusing on the gloomy growth prospects for the economy

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US stocks extended this week’s sharp losses when a tentative rally fizzled out amid renewed concerns about the US economy sending the NASDAQ back into a bear market

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A tentative recovery in stocks was dashed as Wall Street turned lower in afternoon trade as fear of an economic slowdown resonated among investors

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Airline stocks battle their way back into positive territory with the help of falling oil prices and fresh reports that Delta Air Lines and Northwest Airlines are inching closer to a merger.

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Chinese executives and U.S. business owners that federal prosecutors say are connected to the deaths of many dogs and cats were indicted Wednesday for their roles in manufacturing and importing melamine-tainted pet food.

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Macy’s Inc., struggling to shore up sales and profits, said Wednesday it will cut some 2,550 jobs as part of a widespread reorganization aimed at trimming as much as $100 million in costs and consolidating regional divisions.

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SAN FRANCISCO (MarketWatch) — Willis Group Holdings Ltd. said late Wednesday its fourth-quarter profit fell to $95 million, or 66 cents a share, from $148 million, or 94 cents a share, a year ago. The company reported adjusted net income of $93 million, or 64 cents a share, for the latest quarter. Revenue rose to $639 million compared with $621 million a year ago. Analysts surveyed by Thomson Financial estimated a quarterly profit of 59 cents a share on revenue of $654 million. Willis Group sees a 2008 profit of $2.85 to $2.95 a share. Analysts estimate a 2008 profit of $2.91 a share.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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SAN FRANCISCO (MarketWatch) — Cisco Systems Inc. saw its shares drop more than 8% in after-hours trading Wednesday after the company issued a lower-than-expected revenue forecast for its third fiscal quarter, citing the slowing economy. In a conference call to discuss the company’s second quarter results, CEO John Chambers said the company expects revenue for the April quarter to grow 10% from the previous year. That equates to revenue of about $9.8 billion, lower than the $10.19 billion expected by analysts for the period, according to Thomson Financial. Chambers said order-growth rates in the month of January were below expectations, leading the company to be cautious about the outlook for the next few months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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