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Hewlett-Packard’s headquarters in Palo Alto, California. (AP Photo/Paul Sakuma)

HP Says Layoffs Will Total 27,000; Profit Tops Forecast

Hewlett-Packard Co., the world’s largest personal-computer maker, announced plans to slice its workforce by 27,000, or about 8 percent, and reported better-than-forecast sales and profit for its latest quarter. The job cuts, which will come through firings and early retirement offers by October 2014, will generate annual savings of as much as $3.5 billion. HP shares rose sharply in aftermarket trading. [Full Story]

Experts: European Crisis Could Sink Obama’s Re-election Campaign

Europe’s financial crisis may end the political careers of more than just European leaders. It could play a major role in booting President Barack Obama from office too, experts say.... [Full Story]

Harvey Golub: Obama Blocking Economic Recovery

Harvey Golub, Miller Buckfire chairman and executive committee member of [Full Story]

Wharton’s Siegel: Euro Devaluation Is Europe’s Best Option

University of Pennsylvania economist Jeremy Siegel says the least [Full Story]

Goldman's Hatzius: Chance of Fed Stimulus Still Pretty High

The chance the Federal Reserve will prop up the economy via monetary [Full Story]

Morgan Stanley Cut Facebook Profit Outlook 5.9% Ahead of IPO

Morgan Stanley analysts lowered their 2012 projection for Facebook Inc.'s [Full Story]

Former Bank Regulator: JPMorgan’s 'Insane Gamble' Threatens Globe

JPMorgan Chase’s cowboy-style speculation with its depositors’ money puts [Full Story]

Facebook May Move Stock to NYSE After Nasdaq Snafu

Facebook is in talks with the New York Stock Exchange to move its stock [Full Story]

Facebook, JPMorgan Woes Deepen Wall Street's Troubles

Almost four years after the financial crisis, Wall Street still can't get [Full Story]

Facebook Shares Rise to $32; Still 16% Below IPO Price

Facebook's stock rebounded 3.2 percent Wednesday, a reprieve for [Full Story]

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Finance News

Facebook, Banks Sued Over Pre-IPO Analyst Calls

Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. were sued along with other underwriters and Facebook Inc. by investors who claimed they were misled in the purchase of the social network firm’s stock. [Full Story]

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Economy

New-Home Sales Spike May Help Recovery Build Support

Demand for new U.S. homes increased more than forecast in April as low prices and mortgage interest rates drew buyers. [Full Story]

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Companies

Jury Decides Google Did Not Infringe Oracle Patents

Google Inc.'s Android mobile platform has not infringed Oracle Corp.'s patents, a California jury decided in a high-stakes trial fought by the two Silicon Valley giants over smartphone technology. [Full Story]

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Markets

Oil Drops Below $90 for First Time Since Nov. 1

The price of oil has dropped below $90 for the first time in nearly seven months as U.S. supplies continue to grow. Benchmark U.S. crude fell to $89.92 per barrel around noon Eastern time in New York. The price hadn't been below $90 per barrel since Nov. 1. It's now at... [Full Story]

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Investing & Analysis

Brokerage Needham Gives Facebook 'Buy' Rating, $40 Price Target

Brokerage Needham & Co. started coverage on Facebook Inc with a "buy" rating, a rare positive take on the shares of the social network after they lost nearly a fifth of their value since the company's stock started trading last Friday. [Full Story]