IBT Staff Reporter

Shares of DragonWave Inc soared as much as 17 percent to a lifetime high, a day after the supplier of packet microwave radio systems posted quarterly results that topped market estimates and raised its fiscal 2010 revenue outlook.

Ford Motor Co is nearing a deal with the United Auto Workers to bring its labor contract in line with concessions granted to GM and Chrysler, according to a person briefed on the talks.

General Motors Co on Friday signed an agreement to sell its Hummer SUV brand to China's Sichuan Tengzhong Heavy Industrial Machinery in a deal that marks the first time a Chinese buyer has acquired a distressed asset from the American auto industry.

The number of rigs drilling for natural gas in the United States climbed by 14 this week to 726, according to a report on Friday by oil services firm Baker Hughes in Houston.

Exxon Mobil Corp has restarted a gasoline-making fluid catalytic cracker at its 503,000 barrel-per-day Baton Rouge, Louisiana, refinery after an unplanned shutdown late last week, traders said Friday.

The biggest risk for investors in technology, with stock prices up a whopping 55 percent this year, is they might be just a little too happy.

Stocks advanced modestly on Friday, as investors awaited a wave of key earnings reports scheduled for next week while bullish broker comments lifted tech stocks.

Barack Obama won the Nobel Peace Prize on Friday in a stunning decision that honored the first-year U.S. president more for promise than achievement and drew both praise and skepticism around the world.

JPMorgan Chase & Co, Credit Suisse Group and Morgan Stanley have agreed to pay $100 million to settle a lawsuit over their role in the collapse of a Philadelphia mortgage lender, an attorney said on Friday.

The U.S. trade gap narrowed unexpectedly in August as oil imports plunged and exports grew for the fourth consecutive month, a U.S. Commerce Department report showed on Friday.

NASA said on Friday it is too early to tell if it detected water-ice on the moon as a result of the LCROSS mission that fired a rocket into a crater in the moon's south pole this morning.

Citigroup Inc agreed to sell its Phibro energy trading business to Occidental Petroleum Corp for a pittance, allowing the bank to calm regulators who were outraged over a $100 million pay package the unit was obliged to pay a star trader.

Oil fell toward $71 a barrel on Friday, a stronger dollar outweighed a positive demand outlook from the International Energy Agency.

Stocks staged modest gains on Friday, lifted by supportive comments on technology bellwethers before key earnings reports due next week.

Researchers trying to figure out a safe way to turn an ordinary skin cell into a powerful stem cell treatment said they took another big step on Thursday, using one chemical to partly transform the cells.

A virus linked to prostate cancer also appears to play a role in chronic fatigue syndrome, according to research that could lead to the first drug treatments for a mysterious disorder that affects 17 million people worldwide.

As if getting shingles isn't painful enough, researchers reported on Thursday that adults who get the rash have a 30 percent greater risk of developing a stroke than other adults.

Being told you have breast cancer is tough emotionally, but regular exercise can help you keep your spirits up, a new study shows.

Vaccinating boys against the virus that causes cervical cancer and genital warts does not appear to be cost-effective, U.S. researchers said on Thursday.

Hungarian oil and gas firm MOL said on Friday it is still testing for gas at the Foldeak-1 well in its Mako Trough deposit, meaning suggestions the tests have failed are premature.

Citigroup Inc agreed on Friday to sell its Phibro commodities business to Occidental Petroleum Corp , offloading a unit that has drawn criticism over star trader Andrew Hall's massive pay package.

Members of Telco, the holding company that controls Telecom Italia SpA, are discussing renewing their pact for one year when it runs out in April 2010, sources close to the issue said.

Iran and Afghanistan will dominate talks by U.S. Secretary of State Hillary Clinton next week on a trip to Britain and Russia that could also spur progress on a new nuclear arms reduction treaty with Moscow.

U.S. President Barack Obama felt humbled to have been awarded the Nobel Peace Prize on Friday, a senior administration official said.

U.S. President Barack Obama's push for healthcare reform gathered steam on Thursday as a Senate panel scheduled a key vote for next week and Democrats in the House of Representatives moved closer to unveiling a bill.

The top U.S. and NATO commander in Afghanistan has recommended an increase of 40,000 troops as the minimum necessary to prevail, two sources familiar with his recommendations said on Thursday.

Oil rose to more than $72 a barrel on Friday, as a positive demand outlook from the International Energy Agency outweighed a bounce in the dollar.

Wynn Macau's strong debut in Hong Kong on Friday shows appetite for gambling stocks is strong despite high valuations, and will cheer U.S. casino rival Las Vegas Sands , which plans a listing later this year.

Rock Band announced Friday it will launch an app for the iPhone and iPod Touch later this month. In the iPhone version from EA Mobile, allows users to choose if they want to play as a drummer, guitarist, bassist, or vocalist at any one of three difficulty levels.