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Wachovia Corporation
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Stocks end higher following economic readings
Wall Street ended a volatile week with uneven gains Friday after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector.
Sector Snap: Handsets up
Nokia Corp., Motorola Inc. and other handset makers rose along with the broader market Friday following Samsung Electronics' report that its mobile phone sales rose 22 percent in the second quarter.
Analysts lower full-year estimates on Allstate
Following a 98 percent drop in Allstate Corp.'s second-quarter profit, analysts expressed concern over the future of the insurer's life insurance segment and the inherent risk in its investment portfolio.  Investors question financial sector reboundSurprisingly large second-quarter losses at Wachovia Corp. and Washington Mutual Inc. have quickly revived concerns that the financial sector still has a long way to go before it recovers from the year-old credit crisis.  Paulson says financial stability is top priorityTreasury Secretary Henry Paulson spent another day stumping for the U.S. banking system, declaring Tuesday that his top priority was ensuring "stability and confidence in our markets and financial institutions."
Western Union 2Q profit up 13 percent, lifts view
Western Union Co. said Tuesday that international growth helped drive its second-quarter profit up 13 percent, leading the money transfer services company to raise its full-year earnings outlook.
The 5 largest quarterly losses at US banks
The five largest quarterly losses for U.S. retail banks, who suffered the losses, how big they were and when they occurred, according to Standard & Poor's Compustat:  Wachovia loses $8.9B, cuts 6,350 workers, dividendWachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The bank said it lost $8.86 billion, is slashing its dividend and eliminating 10,750 positions after losses tied to mortgages soared.
Wachovia exits wholesale mortgage lending business
Wachovia Corporation, the nation's fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business.
BofA 2Q profit shrinks, beats Wall Street
Bank of America Corp. has become the latest in a string of big banks whose second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations.
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