IBT Staff Reporter

U.S. stocks pushed mostly back into positive territory, but were off session highs late on Monday afternoon, as a sell-off in banking shares reversed the initial gains built on solid economic data.

U.S. Manufacturing activity expanded in October for the third consecutive month, while the overall economy grew for the sixth consecutive month, according to a survey from the Institute of Supply Management.

Apple is reportedly shopping around a subscription service to TV networks that would give iTunes users a catch-all subscription for $30 a month.

U.S. President Barack Obama warned on Monday that more U.S. job losses lay ahead despite a turnaround in the economy, and he called for a new post bubble growth model with greater focus on U.S. exports.

Shares of BlackBerry maker Research In Motion fell more than 6 percent on Monday after an analyst told investors to sell the stock because of mounting competition from other smartphone makers.

The S&P 500 and the Nasdaq fell on Monday, with the market surrendering early gains, as investors fretted that the seven-month rally was running out of steam.

U.S. stocks turned negative on Monday as investors pulled back after pushing indexes up about 1 percent on better-than-expected data on manufacturing and pending home sales.

Motorola's growing popularity with its upcoming Motorola Droid smartphone with Google's Android operating system may help increase the company's market share, but analysts warn this will largely affect rivals like Research In Motion and Palm.

Cisco Systems Inc's quarterly results this week are expected to reflect some recovery in tech spending, but it may be hard to get investors to commit more money to a stock that is already up 40 percent this year.

Shares of BlackBerry maker Research In Motion fell more than 6 percent on Monday after an analyst told investors to sell the stock because of mounting competition from other smartphone makers.

U.S. President Barack Obama said on Monday that more U.S. jobs will be lost in coming weeks and months but stressed the economy has recovered a lot of ground since he took office in January.

Ford Motor Co posted a quarterly profit on Monday, defying Wall Street forecasts for a loss as it cut costs and gained market share, leading it to raise its 2011 outlook to solidly profitable from break-even.

U.S. stocks rose on Monday as stronger-than-expected data on manufacturing and pending home sales spurred broad-based gains following a sell-off at the end of last week.

Human Genome Sciences Inc said its experimental lupus drug Benlysta was successful in a late-stage clinical trial, paving the way for approval of the first new treatment for the disease in 50 years.

Health insurer Humana Inc forecast profit to fall next year due in part to pressure on margins as it sees lower government reimbursement for its Medicare plans for the elderly.

Iran wants more talks on a U.N.-drafted nuclear deal because it needs guarantees it will receive reactor fuel, a senior official said Monday, adding to doubts that a standoff with big powers can be ended soon.

A trip by Japan's foreign minister to Washington to try to soothe strained ties was up in the air on Monday as doubts simmered over whether a feud about a military base will be resolved before a visit by President Barack Obama.

Hector Ruiz will step down as chairman of chip maker Globalfoundries, following reports linking the former Advanced Micro Devices chief executive to the largest insider trading scheme in decades.

CIT Group Inc's bankruptcy case was reassigned on Monday to U.S. Bankruptcy Judge Allan Gropper following the recusal of Judge Robert Gerber, who had been assigned the case hours earlier.

Republicans in the U.S. House of Representatives plan to offer an alternative to Democrats' massive healthcare reform bill that would not raise taxes or require people or businesses to buy health insurance, the House Republican leader said on Sunday.

A suspected Taliban suicide bomb killed at least 35 people in the Pakistani city of Rawalpindi on Monday, officials said, as the government announced a reward for the capture, dead or alive, of the group's leaders.

Fiat SpA's plans for Chrysler will scrap the U.S. automaker's long-held plans for its brands outside North America with the exception of Jeep, people with direct knowledge of the plan said.

U.S. stocks rose on Monday after U.S. factory activity grew more than forecast in October, alongside improved global manufacturing, and pending home sales increased unexpectedly.

U.S. manufacturing activity rose to its highest level in 3-1/2 years last month and pending home sales contracts unexpectedly surged in September, offering hope the budding economic recovery would be sustained.

Online advertising start-up OpenX and Microsoft Corp announced a partnership to promote each other's Internet technologies to their respective customers.

The key number in next year's U.S. congressional election may be the unemployment rate, which last month hit a 26-year high of 9.8 percent.

Ford Motor Co surprised Wall Street with a quarterly profit on Monday and raised its 2011 outlook to solidly profitable, sending its shares up 5.7 percent in premarket trading.

As automakers, parts suppliers and car retailers ready business plans for next year and beyond, the experience of the industry's 2009 crash has made caution the new byword.

Leaders of the 21 APEC economies are concerned that high level political commitment to conclude the Doha Round of world trade talks has yet to translate into substantive progress and called for a deal next year, a draft statement from the grouping seen by Reuters on Monday said.