"The cuts include 8,000 full-time employees, or 5 percent of the company’s electronics workforce, and another 8,000 part-time and seasonal workers, Sony said. The reductions highlight the severity of the slump in consumer spending at a time when companies typically focus on the peak Christmas shopping season."
Fedex Cuts 2009 Earnings Forecast
"FedEx fell 12 percent to $65.86 after saying annual profit may be as much as one-third lower than analysts expected."
Existing Homes Sales Declines Further
"Fewer Americans signed contracts to buy previously owned homes in October as credit markets seized, signaling the housing slump will extend into a fourth year."
