IBT Staff Reporter

Stocks extended losses on Friday, with the Dow industrials and the S&P 500 falling into negative territory after Fitch threatened to cut the ratings of several euro zone nations, reigniting worries about the region.

Shares of Cablevision Systems Corp fell more than 15 percent in early trading on Friday as investors sold off on uncertainty surrounding the sudden departure of the New York cable operator's well-regarded chief operating officer.

The methodical dissection in courtrooms across London this week of events at Rupert Murdoch's now-defunct News of the World tabloid has finally destroyed the company's long-held defense about phone-hacking and left son James more isolated than ever.

Italy's prime minister urged European policymakers Friday to beware of dividing the continent with their efforts to fight its debt crisis, warning against a short-term hunger for rigor in some countries, in a swipe at Germany.

Stocks rose on Friday, with growth-related shares leading the way as investors focused on a brighter U.S. economic outlook.

Zynga Inc shares opened as much as 10 percent above their offer price on Friday but then rolled back below the IPO price, showing that investors were still concerned about its dependence on Facebook and its growth prospects and that demand for hot tech IPOs may be waning.

Zynga Inc shares opened as much as 10 percent above their offer price on Friday, but then rolled back showing that investors were still concerned about its dependence on Facebook and its growth prospects.

Europe's debt crisis has deepened and become more entrenched, posing a serious risk to the economic outlook, a senior Treasury official told lawmakers on Friday.

Cox Communications announced Friday it has entered into an agreement to sell its Advanced Wireless Service spectrum licenses to Verizon Wireless for $315 million. In addition, the two companies will also have the opportunity to sell each other's products and services through respective company sales channels.

Apple Inc's share of China's booming smartphone market has risen sharply in the past two years, but for now the company that sells the iconic iPhone is being outpaced by nimble rivals.

Stocks rose on Friday with growth-related shares leading the way as investors focused on a brighter U.S. economic outlook.

Fitch Ratings, the third-biggest of the major credit rating agencies, on Thursday downgraded Goldman Sachs, Deutsche Bank and five other large banks based in Europe and the United States, citing increased challenges in the financial markets.

The Beijing city government said on Friday it would tighten control over popular microblogs that have vexed authorities with their rapid dissemination of news, giving users three months to register with their real names or face legal consequences.

Several brokerage firms trimmed their price targets on Research in Motion shares and questioned the BlackBerry maker's ability to recover, after the company delayed the launch of its new line of smartphones.

Online games maker Zynga Inc is expected to make a strong debut on the Nasdaq stock exchange on Friday after it priced its initial public offering at the top end of a preliminary range but did not increase the size of the $1 billion deal.

If Diageo -- the world's biggest spirits company -- wants to be a leading player in American whiskey, the experience of another major company attempting a U.S. merger won't give it much cause for cheer.

Nikki Haley, the governor of South Carolina and a rising star in the conservative wing of the Republican Party, endorsed Mitt Romney for president on Friday.

Wall Street stocks were set to open higher on Friday as investors were more attracted to risk assets, with the euro higher and key euro zone bond yields down.

Consumer prices were flat in November as Americans paid less for cars and gasoline, a further sign of a cooldown in inflation that could give the Federal Reserve more room to help a still-weak economy.

The company which created Angry Birds, the world's most popular computer game, is considering a stock market flotation in Hong Kong, joining the many foreign firms who have gone public there.

Talks are progressing on private bondholders' contribution to Greece's international bailout but there is no guarantee they will lead to a voluntary deal involving the bulk of its creditors, a senior troika official said on Friday as EU, IMF and ECB inspectors wrapped up a one-week visit to Athens.

With the January transfer window ever so closer, reports have picked up regarding Arsenal's potential purchases.

Talks on a Greek debt swap deal are making progress but there is no guarantee they will lead to a voluntary deal with a high level of participation by private bondholders, a senior troika official said on Friday as EU, IMF and ECB inspectors wrapped up a one-week visit to Athens.

Apple's long-awaited iPhone 4S and Samsung Electronics' fresh, broad offering are likely to stand out in this holiday season's smartphone sales which will otherwise be clouded by global economic uncertainty.

Stock index futures rose on Friday in thin volume as key euro zone bond yields eased ahead of the release of U.S. inflation data.

Scarce dollar funding and a retrenchment in bank lending will force up premiums for emerging market countries and companies refinancing debt next year, adding to strains on public finances and potentially triggering a surge in corporate defaults.

Italy's government easily won a confidence vote on its tough austerity package on Friday, the first step in parliamentary approval for sweeping measures aimed at saving the euro zone's third-largest economy from financial disaster.

Several brokerage firms trimmed their price targets on Research in Motion shares and questioned the BlackBerry maker's ability to recover, after the company further delayed the release of its new line of smartphones.

Stock index futures pointed to a higher open for equities on Wall Street on Friday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 rising 0.3 to 0.6 percent.