NEW YORK (Reuters) - Stocks managed to score modest gains on Friday, but the S&P 500 posted its biggest weekly drop since April as investors showed only mild enthusiasm after getting their first glimpses of earnings.
To any rational investor, the stock of Cynk Technology looked like a loser. The company had no assets and no revenue. Regulatory filings listed a succession of chief executives and no other employees.
Reynolds American and Lorillard confirmed on Friday that they were working on a merger that will reshape Big Tobacco by bringing together two of the three largest US operators with a combined market capitalisation of $56bn.
Worries about the soundness of Portugal's biggest bank reverberated around the world's financial markets yesterday, reawakening fears about a new eurozone crisis and sending share prices and Portugal's sovereign bonds plunging.
This undated image provided by Amazon.com shows the so-called Prime Air unmanned aircraft project that Amazon is working on in its research and development labs.