Joseph H Lezovich

Wall Street followed European markets sharply lower on Thursday as news that central banks on both sides of the Atlantic won't be taking immediate action to prop up struggling global economies shook traders' confidence.

AT&T Inc. (T) agreed to buy NextWave Wireless Inc. (WAVE) in a deal valued at $600 million, as the telecommunications company makes a long-term bet for additional wireless airwaves to help deal with the increased delivery of data to smartphones and other mobile devices.

Software company Eloqua Inc.'s (ELOQ) initial public offering met healthy demand Thursday, as shares opened higher and added to gains later in the trading session.

French car maker Renault SA (RNO.FR) said Thursday that it plans to increase production capacity at its engine plant in Brazil by 25% between now and 2013.

Alan Brochstein identifies 8 Consumer stocks that have dropped more than 20%We are more than halfway through earnings season, which has been rather eventful thus far.

Knight Capital saw its stock nosedive after it revealed a massive trading loss, stifling its access to capital and forcing the embattled market maker to search for an emergency loan. • How it Happened • Knight Shops Itself

Knight Capital Group's co-founder and former CEO Kenneth Pasternak said on Thursday the company can rebound after a trading glitch that wiped out $440 million in capital.

Standard and Poor's Ratings Services downgraded steel titan ArcelorMittal's (MT) long and short-term ratings by one notch to junk status Thursday following the credit rating firm's recent downward revision of its European economic growth forecasts and concerns about the health of the global economy.

Federal authorities arrested a Bristol-Myers Squibb Co. (BMY) executive Thursday on charges that he used confidential information about the drug maker's acquisition targets to make more than $300,000 in illicit profits from stock-option trading.

Duke Energy Corp. (DUK) said Thursday it is negotiating with North Carolina regulators and the state attorney general to resolve investigations into the company's surprise management shuffle following its acquisition of Progress Energy.