CNBC.com News Now: U.S. To Buy Stake In Financial Institutions

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DOW 8451.19 -128.00 -1.49% NASDAQ 1649.51 4.39 +0.27% S&P 899.22 -10.70 -1.18%   Friday, Oct. 10, 2008   CNBC TASK FORCE     Mike Huckman, CNBC Pharamaceuticals Reporter Before the late-day "rally", the stock of every major pharmaceutical company--domestic and foreign--touched new lows in Friday trading. Every single one. No one was immune. And the carnage wasn't limited to big pharma. Several biotech stocks, big and small, along with the stocks of medical device companies also hit new low points today. Shares of the world's biggest drug company, Pfizer, were trading as low as 14 dollars and change. Several of the big pharmas pay very healthy dividends, but investors seem to hate stocks so much right now, that not even a high yield is enough to make them want to buy equities. The major drug companies are loaded with cash, but they're also facing unprecedented challenges on a number of fronts that money alone won't help them overcome. And that may explain why that late-day "rally" in the sector was so fleeting.     WHAT YOU SHOULD KNOW     US Plans Recapitalization Plan For Financial Firms As the financial crisis threatens to spiral out of control, Treasury Secretary Henry Paulson is taking extraordinary steps through the extensive authority granted to him under emergency rescue legislation...read more     Is Now the Time To Buy Banks? With fear gripping the market find out why Jon Najarian says he's comfortable buying bank stocks!...read more     How the FDIC Pays for Bank Failures Barely a day has gone by during the past several weeks without a mention in the news of the FDIC, the agency that is best known for handling the disposition of the assets of failed banks and making sure consumers receive their insured deposits...read more     Higher Volume Indicates Push Toward Turning Point Stronger volume in stock trading Friday could raise hopes that the eight-day blowout on Wall Street is pushing toward a capitulation bottom... read more     TODAY'S TOP 5 VIDEOS     1. Hogan Calls Bottom Art Hogan, managing director at Jefferies, shares his market outlook with CNBC's Erin Burnett.     2. NYSE Market Wrap CNBC's Bob Pisani reports on the roller coaster day in the markets, live from the floor of the NYSE.     3. The Icahn Plan Discussing how to improve corporate governance, with Carl Icahn, Icahn Associates and CNBC's Maria Bartiromo     4. Rogers: Companies Need to Go Bankrupt Markets do not trust the governments' plans to keep struggling banks alive and investors will only calm down when the companies with bad assets are allowed to go bankrupt, legendary investor Jim Rogers, CEO of Rogers Holdings, told CNBC Friday.     5. Stop Trading, Listen to Cramer! Mad Money host Jim Cramer shares his stock picks with CNBC's Erin Burnett.     Click here to view all of today's top videos on CNBC.com     CNBC.com BLOG OF THE DAY     Rethinking The Great Depression--What We Need To Remember A new book – "THE FORGOTTEN MAN: A New History of the Great Depression" by Amity Shlaes has been called, "The finest history of the Great Depression ever written" and it is a brilliant AND timely read....read more See All CNBC.com Blogs   Watch CNBC live on your desktop. Click here to find out how.   NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS   (c) 2008 CNBC, Inc. All Rights Reserved

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