You're watching...

Midday Market Report: 1/18

Details

This transcript is automatically generated

Investment bank powerhouse Goldman Sachs reporting a one billion dollar fourth quarter profit market at 15% decline from the year dealt.

Revenue came in at six billion dollars shy of Wall Street more bullish estimates.

Goldman's numbers were dragged down by declines in investment banking and fixed income currency and commodity revenues.

Northern Trust the investment manager for the wealthy is cutting jobs 700 of them worldwide half are in Europe.

Think Kraft is cutting 16100 jobs in the US and Canada.

As it splits into two separate companies one for groceries and one for snacks that split is expected to be completed later this year.

Wall Street is cheering Yahoo! on news that its co-founder Jerry Yang is stepping down from the struggling Internet giant.

Yang departure comes just two week after Yahoo! hired a new CEO.

Former PayPal executive Scott Thomson.

To try and turn things around.

Some investors are discouraged that Yang recommended young turned down -- 2000 any offer by Microsoft.

To buy Yahoo! for around 32 dollars a share.

The stock's been stuck around sixteen.

Yang has also resigned from board seats and Alabama and at Yahoo! Japan.

And wholesale price -- surprisingly fell a tenth of 1% in December at the cost of gas and the cost of food declined.

But core price stripping out both food and energy they jumped that's business.

Day's top stories -- content foxbusiness.com.

In New York online Cincinnati.