Judge rejects Schering-Plough tax refund request (AP)

AP - A federal court in Newark, N.J. has rejected Schering-Plough Corp.'s request for a $473 million tax refund related to the drugmaker's efforts to avoid paying taxes on $690 million in overseas profits it brought back to the U.S. from offshore subsidiaries.

Judge rejects Schering-Plough tax refund request (AP)

AP - A federal court in Newark, N.J. has rejected Schering-Plough Corp.'s request for a $473 million tax refund related to the drugmaker's efforts to avoid paying taxes on $690 million in overseas profits it brought back to the U.S. from offshore subsidiaries.

Stocks mostly lower; Nasdaq buoyed by Intel news (AP)

AP - Investors balked at extending the market's recent rally Friday despite an improved outlook from Intel Corp.

Consumer sentiment at 4-month low (Reuters)

Reuters - U.S. consumer confidence fell to its lowest level in four months in August on worries over high unemployment and dismal personal finances, though the mood improved from earlier this month, a survey showed on Friday.

Investors trading 3 stocks that may be doomed (AP)

AP - Investors are still trading common shares of Fannie Mae, Freddie Mac and American International Group Inc. by the billions, even though analysts say their prices are almost certain to go to zero.

Moody’s mulls downgrade for Sallie Mae (AP)

AP - Moody's Investors Service said it is considering downgrading long-term ratings for the nation's biggest student lender, Sallie Mae, citing earnings and cash-flow generation at the company.

Prudential Mortgage closes $100M loan (AP)

AP - Prudential Mortgage Capital Co. said Thursday it closed a $108 million loan allowing a client to buy several properties in six states owned by real estate investment trust Kimco Realty Corp.

Mortgage rates up slightly, still near record lows (AP)

AP - Rates for 30-year home loans edged up this week, but remain close to record lows reached over the spring.

Fed’s Lacker eyes mortgage securities program (AP)

AP - The Fed should continue its program designed to drive down mortgage rates at least until the economy begins to grow, the president of the Federal Reserve Bank of Richmond said Thursday.

Mortgage applications rise as refinancing demand jumps (Reuters)

Reuters - U.S. mortgage applications rose for a second straight week, with demand for home refinancing loans rising to its highest level since early June, data from an industry group showed on Wednesday.

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