Business news for Fri, 16 Nov 2007 & with word shares. 59 news.

Thomas Fitzmyers sold $5.9 million in shares of the maker of building products.

US stocks rose overnight after a day of sharp price swings, helping the S&P 500 narrowly avert a third straight week of losses as bargain-hunting lifted the beaten-down technology sector while shares of oil companies rose with crude prices.

China Pacific Insurance, the mainland's third largest insurer, is set to raise up to $6bn by listing its shares in Shanghai and Hong Kong, according to people familiar with the situation

Shares of commercial printer Quebecor World hit a new low Friday as investors continued to bail out of the beleaguered company.

Fannie Mae executives on Friday defended a change in the way the mortgage finance company calculates losses on home loans, responding ...

Acacia Research Corp. has won notoriety for its legal pursuit of giants like Microsoft Corp. and Apple Inc., but on Thursday, the first of the patent firm's many lawsuits to reach as far as a jury trial resulted in a legal setback. In addition to finding that Microsoft did not infringe on an Acacia patent related to technology used to quickly power up computers, the jury decision invalidated the patent itself. Shares tumbled more than 33% on Friday.

Reuters - U.S. stocks rose on Friday after a day of sharp price swings, helping the S&P 500 narrowly avert a third straight week of losses as bargain-hunting lifted the beaten-down technology sector while shares of oil companies advanced on buoyant crude prices.

SAN FRANCISCO (MarketWatch) -- Cathay General Bancorp , the holding company for Cathay Bank, said late Friday its board of directors approved a new share repurchase program of up to 1 million shares of Cathay stock. Between Jan. 1 to Nov. 2, Cathay bought back about 2.5 million shares at an average of $33.45 a share, the bank holding company said. Cathay had 49.8 million common shares outstanding as of Oct. 31.

Shares of Starbucks Corp. slipped Friday, a day after the coffee chain offered a weaker outlook for its current financial year.

NEW YORK (Reuters) - Huntington Bancshares Inc (HBAN.O), a large U.S. Midwest regional bank, projected a surprise fourth-quarter loss because of its exposure to a troubled client's mounting mortgage losses, sending its shares down Friday as much as 10.5 percent to a six-year low.

The investment arm of the Abu Dhabi government bought 49 million shares in Advanced Micro Devices, but it won't get board representation.

Fannie Mae shares skidded further Friday after falling 10% Thursday amid worries over the way the mortgage giant reports credit losses and a gloomy outlook for the housing market.

The coffee chain also reported a 35 percent rise in fourth-quarter earnings, but it forecast that 2008 earnings would miss many Wall Street estimates.

SAN FRANCISCO (MarketWatch) -- Gilead Sciences Inc. said Friday it submitted a new drug application to the Food and Drug Administration for marketing approval of its aztreonam lysine inhalation drug, an investigational therapy for people with cystic fibrosis and pulmonary Pseudomonas aeruginosa infection. The Foster City, Calif., biopharmaceutical company said the infection is the greatest cause of morbidity and mortality for people with cystic fibrosis. Gilead said aztreonam lysine for inhalation is still an investigational therapy and although it has gone through Phase III clinical studies, it has not yet been determined safe or efficacious in humans. Gilead's shares were recently up $1.05, or 2.4%, at $44.70.

(Crain's) -- Shares of Rubicon Technology Inc., the latest company to shine a spotlight on the Chicago IPO market, soared 30% Friday to $18.25. The Franklin Park-based producer of materials used to make light-emitting diode chips raised $77 million this week. Some early investors sold 1.2 ...

NEW YORK (MarketWatch) -- 3PAR Inc. jumped 13% in its stock market debut Friday. The tech firm's initial public offering priced 7.5 million shares at $14 each in a bid to raise about $105 million. In a sign of healthy investor interest, 3PAR priced above its estimated range of $11-$13 a share. The IPO rose to $15.75 in recent action. 3PAR bills itself as a global provider of utility storage, a category of highly virtualized tiered-storage arrays built for utility computing.

NEW YORK (Reuters) - Fannie Mae (FNM.N) shares plunged as much as 12 percent to their lowest in more than a decade on Friday after the company on a conference call failed to calm investors' concerns about loss accounting.

UK banking shares buckle under fresh fears about the impact of a global credit squeeze on their business.

European shares ended lower, with financials under pressure on continued credit-related worries.