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Toyota recalls Prius, hybrids over glitch in brake software
Google lowers fee for breaking phone contract
Texas company buys vast gas resources
Buffett joins with Paulson in predicting big payback
Local families get helping hand
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Man robbed at Tallmadge Avenue eatery
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Blogs:
First Bell - On Education:
No City of Akron basketball tonight
Pets:
Pet telethon re-airs
The Heldenfiles:
Chipmunks "Squeakquel" on DVD/BD March 30
Akron Zips:
Late surge gives Zips ugly road win
Tribe Matters:
Blogmail response on Hafner
Cleveland Browns:
Stallworth's contract terminated
Balanced Ledger:
QB in Browns future: another mock draft
Kent State Sports:
KSU Notes – February 9
Cleveland Cavaliers:
NBA Power Rankings from Around the Internet
Buckeye Blogging:
Buckeyes grab 18 players on signing day
Varsity Letters:
Garfield at Buchtel basketball
All Da King's Men:
Palin At The Tea Party Convention
Blog of Mass Destruction:
Republican Pre-Conditions
Akron Law Café:
Citizens United v. F.E.C. (Part 4): Kennedy's and O'Connor's Basic Approaches to Constitutional Decisionmaking – Top Down and Bottom Up
Car Chase:
Collector Car Hobby Loses One of the Best—Jim Roll
Let's Talk Real Estate:
Decisions Decisions: Credit Cards or Your Mortgage?
Ohio Travels with Betty:
Loucile is looking for a Lake Erie getaway in June for three kids, ages 1, 3, and 5.
Sound Check:
Talk of the Town – Top entertainment picks for the weekend
HRLite House:
Track HR Research
Akron Gamer:
Makers of 'Castle Crashers' unveil 'BattleBlock Theater'
See Jane Style:
Do IT this week: Layering
Published on Saturday, Sep 13, 2008
Associated Press
NEW YORK: Stocks finished another volatile session narrowly mixed Friday, as gains in the energy, utilities and materials sectors offset some of Wall Street's angst over the fate of Lehman Brothers Holdings Inc.
The three major indexes all managed to end the week higher.
The troubles of the financial sector dominated trading, as investors tried to glean insights into Lehman's race to sell itself or otherwise regain Wall Street's confidence. The company's shares have fallen this week, heaping pressure on executives at the No. 4 U.S. investment bank to line up a buyer or source of fresh cash.
Lehman shares — which tumbled 42 percent Thursday and are down more than 94 percent for the year — fell another 57 cents, or 13.5 percent, to $3.65 on Friday.
The market is anticipating that Lehman will arrive at a deal this weekend, said Ryan Larson, senior equity trader at Voyageur Asset Management. Lehman, the government and other banks have been declining to comment officially on the issue, but bankers and industry executives have been saying that Lehman is working feverishing to find a buyer.
Closure on the issue would be better than not doing so, but it won't likely be an antidote for the turbulent market, Larson said.
''Once this deal gets done,'' Larson said, ''you'll see sentiment shift to: Who's next?''
An unexpected slowdown at cash registers last month also weighed on the stock market Friday, particularly on shares of retailers and other consumer discretionary stocks. The Commerce Department said retail sales fell by 0.3 percent in August.
The Dow Jones industrial average fell 11.72, or 0.10 percent, to 11,421.99, after falling more than 150 points in the early going.
The Dow finished the week up 1.79 percent; the S&P finished up 0.76 percent; and the Nasdaq ended up 0.24 percent.
Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.73 percent from 3.64 percent late Thursday.
Crude oil rose 31 cents to settle at $101.18 a barrel after briefly crossing below the $100 mark for the first time in five months.
Worries about risky debt have been hitting other financial stocks this week. American International Group Inc. fell $5.41 on Friday, or more than 30 percent, to $12.14, making it by far the biggest decliner among the 30 stocks that make up the Dow Jones industrial average.
Merrill Lynch & Co. fell $2.38, or 12.3 percent, to $17.05, while Washington Mutual Inc. slipped 10 cents, or 3.5 percent, to $2.73. Macy's Inc. fell $1.04, or 4.8 percent, to $20.81, while Best Buy Co. fell $1.51, or 3.3 percent, to $44.49.
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