Cholesterol drug Vytorin disappoints; Bank of America profits fall 41%
CBS
Transcript
Wall Street turned lower as investors watched oil prices go up and drug company stocks go down crude Rose more than $2 it's now back over $131 a barrel but shares of MC and shearing plow fell after a new study showed their cholesterol drug vorin does not lower the risk of heart problems those developments overshadowed a better than expected report card from Bank of America while its profits tumbled 41% the bank was able to offset some more related losses in the end the down lost 29 the NASDAQ closed off three a survey of Economist shows nearly half think we won't see recovery this year they see little growth ahead in the next 6 months but they do think the country should avoid a recession still Americans continue to tighten their belts 71% of parents say they'll spend less on back to school shopping this year and 90% say they'll be doing more of their shopping at discount stores instead of department stores and CBS is off the hook for Janet Jackson's Infamous wardrobe malfunction at the 2004 Super Bowl halftime show a federal appeals court throughout the fcc's $550,000 indecency fine that's your money watch log on to cbsnews.com for more in New York I'm Allison Harlin