Fed sees rates near zero for extended period
The U.S. Federal Reserve on Wednesday expressed growing confidence that an economic recovery was building, even though it stuck to its commitment to keep borrowing costs near zero for an extended period.
Democrats shrug off election impact on healthcare
Democrats pushing for healthcare reform shrugged off their losses in two governors races and said on Wednesday the results made it more imperative to deliver on campaign promises to overhaul a failing system.
Cisco beats forecasts, points to recovery
Cisco Systems Inc posted a stronger-than-expected quarterly profit and signaled that recovery was well on its way, as businesses are investing in network equipment again after cutting back for the past year.
Qualcomm revenue outlook misses estimates
Wireless chip and technology supplier Qualcomm Inc on Wednesday set a quarterly and annual revenue target that missed Wall Street estimates, but its shares rose slightly in late trade after falling more than 9 percent in recent weeks.
Prudential swings to 3rd-quarter profit
Prudential Financial Inc , the No. 2 U.S. life insurer, said on Wednesday it had a third-quarter profit, reversing a year earlier loss, on record annuity sales and better performance in its investment portfolios.
GMAC posts Q3 loss, hurt by mortgage unit
GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.