Updated from 7:07 a.m. EST
Wall Street's skepticism about the government's bailout plan of the banking industry was apparent on Tuesday, as stocks fell sharply. Treasury Secretary Timothy Geithner announced a plan that will utilize more than $1 trillion in public and private support to get the frozen credit markets functioning again.
This announcement comes on top of the $838 billion stimulus package, expected to be signed by President Obama in the near future.
announced that it will be slashing 10,000 jobs in an effort to restructure itself. The company plans on reducing its total number of salaried workers to 63,000 from 73,000 this year; 3,400 of those jobs are located in the U.S.
Also making headlines is Santa Clara, Calif.-based
, which plans on spending $7 billion on factory upgrades. The company reported that this latest investment is the most it has ever spent on a transition to new manufacturing technology.
With this in mind, we thought we'd take a look at some of the stocks people have been searching for on
) and see what
To read more,
In Wednesday trading, shares of Foster Wheeler closed at $22.99 (up 3.23% for the day; down 4.19% year-to-date).
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