Tue, Mar 11, 2014, 9:05 PM EDT - U.S. Markets closed
U.S.
Reuters

Profit-taking drags Wall Street lower

U.S. stocks fell on Tuesday, with selling picking up late in the session, as investors cashed in some of the recent market gains, but the S&P; 500 finished less than 1 percent away from a record high set ...

  • Obamacare enrollment in private coverage rises to 4.2 million people, still short of goal

    The Obama administration on Tuesday said the number of people enrolled in private health insurance under Obamacare reached 4.2 million on March 1, amid independent reports of a sustained decline in America's huge uninsured population. The data, which reflects enrollment activity from October 1 through March 1, represented a rise of about 940,000 enrollees.

  • Tesla, NJ Governor Christie clash over direct sales to customers

    Tesla said on Tuesday the administration was undermining its model of selling cars, while the administration says Tesla has long known the company needed a law change to accommodate its sales model. The New Jersey Motor Vehicle Commission introduced a rule in October that made explicit the need to have a franchise license to sell cars in the state, and that rule was due to be approved on Tuesday. "Having previously issued two dealer licenses to Tesla, this regulation would be a complete reversal to the long-standing position of (New Jersey Motor Vehicle Commission) on Tesla's stores," Tesla said on its blog. In response, Kevin Roberts, a spokesman in the governor's office, said since Tesla began operating a year ago in New Jersey, "it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law."

  • Ackman slams Herbalife — again

    Hedge fund manager Bill Ackman, who runs Pershing Square, gave another presentation on Herbalife. This time it was on Herbalife's business practices in China.

  • Investors pull the 'Plug' on fuel-cell manufacturer

    It's fine and dandy to be long momentum stocks when they are on their parabolic moves higher. However, once the tide turns, it can get really ugly in a hurry. There is no better example of this price action ...

  • Senate banking leaders sketch out Fannie, Freddie bill; shares plunge

    By Margaret Chadbourn WASHINGTON (Reuters) - The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve. Committee Chairman Tim Johnson, a Democrat, and Senator Mike Crapo, the panel's top Republican, outlined the plan in bullet point format after months of talks that included input from the Obama administration. Fannie Mae and Freddie Mac, which own or guarantee 60 percent of all U.S. home loans, provide a steady source of mortgage funds by buying loans from lenders and packaging them into securities they sell to investors with a guarantee. Their central role in the mortgage market led the government to bail them out to the tune of $187.5 billion in the midst of the 2007-2009 financial crisis, and lawmakers want to make sure taxpayers are never on the hook again.

  • Papa John's run-up draws a crowd — of short sellers

    It's still not an overwhelming position overall, but it comes at a time when the shares are arguably stretched.

  • Do parents 'owe' their children a college education?

    An 18-year-old New Jersey high school student is suing her parents for throwing her out of their home and refusing to pay for her private high school or college.

  • Stocks in the red in later trade

    Stocks eased back into the red Tuesday afternoon after briefly wandering higher earlier in the day as investors focused on companies such as General Motors, Men's Wearhouse and American Eagle Outfitters ...

  • Slow growth: What the new normal GDP means for monetary policy, stocks

    A new report from Morgan Stanley chief economist Vincent Reinhart and his team paints a picture of a new economic normal that features GDP growth of just 2%, half a percent lower than previous estimates.

  • Men's Wearhouse to buy Jos. A. Bank for $1.8 billion

    Men's Wearhouse capped a turbulent six-month takeover battle by announcing a deal to buy smaller rival Jos. A. Bank Tuesday for $1.8 billion. The deal combines the two largest independent men's clothing ...