IBT Staff Reporter

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Kodak may need patent sale, new debt to survive

Eastman Kodak Co spooked investors on Thursday by warning it may need to raise new debt or complete a multibillion-dollar patent sale to survive the next 12 months, sinking shares by as much as 11.7 percent.

Duqu hackers shift to Belgium after India raid

Hackers used a server in Belgium to collect data stolen from machines infected with the Duqu computer virus, after authorities shut down another rogue collection system in India, according to security experts.

Jefferies says has no meaningful Europe exposure

Jefferies, responding to its plunging shares and growing fear over its stability, said it had no meaningful net exposure to European sovereign debt and that it was, in fact, positioned to profit should credit quality there deteriorate further.

U.S. blames China, Russia for cyber espionage

China and Russia are using cyber espionage to steal U.S. trade and technology secrets to bolster their own economic development, which poses a threat to U.S. prosperity and security, a U.S. intelligence report said on Thursday.

ECB surprises with rate cut, cautious on bond buys

The European Central Bank cut interest rates by a quarter point to 1.25 percent in a surprise move on Thursday and President Mario Draghi said the euro zone could subside into a mild recession in the latter part of 2011.

Lingering anxiety curbs chain store gains

Sales at major U.S. retailers rose in October but not as much as Wall Street analysts had thought, showing that consumers are still anxious about the state of the economy as they begin their holiday shopping.

BofA wanted to be transparent on debit card fee

Bank of America Corp , which earlier this week canceled plans to charge a $5 monthly fee to use a debit card after loud protests, was not sure how to implement the plan and disclosed it only in an effort to be transparent with customers, a bank executive said.

Orbitz Q3 results, FY outlook strong; shares soar

Online travel agency Orbitz Worldwide Inc reported better-than-expected quarterly results, helped by growth in its non-air revenue, and raised its full-year revenue outlook, sending its shares up as much as 36 percent.

IMF backs ECB move, Greek aid tied to country

The IMF said on Thursday it backs the European Central Bank's interest rate cut and its aid to Greece is tied to the country, rather than a specific government, and would continue as long as its terms were met.

CVS Caremark's higher profit tops expectations

CVS Caremark Corp posted a bigger-than-expected rise in quarterly profit on Thursday as its pharmacy benefits business improved, and it expects this year's profit to be at the higher end of its prior forecast.

Wall St rises on Greece hopes, ECB rate cut

Stocks rose in a volatile session on Thursday on hopes Greece's political and financial situation would become clearer and after a surprise interest rate cut in Europe boosted sentiment.

WebMD shares crash on weak outlook

Shares of WebMD Health Corp crashed to their lowest in more than two years on Thursday, a day after the healthcare information provider lowered its revenue outlook.

WebMD crashes on weak outlook

Shares of WebMD Health Corp crashed to their lowest in more than two years on Thursday, a day after the healthcare information provider lowered its revenue outlook.

Service sector growth slows, factory orders up

U.S. service sector activity growth eased in October to its slowest level in three months, but new orders for good from factories unexpectedly rose, suggesting economic growth remains patchy.

RIM says India head leaves firm

Research In Motion's Indian unit said on Thursday its managing director Frenny Bawa has left the company to pursue other interests and the BlackBerry-maker has appointed an interim head for the country's operations.

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