Time Is Prime Driver With Mutual Funds (Investor's Business Daily)
Investor's Business Daily - Buying a mutual fund is a different game than buying a stock.

Icahn prepared to buy Circuit City if Blockbuster can't (AP)

AP - Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its books in connection with the video-rental chain's bid to buy the company.

Citigroup aims to shed $400 billion of assets (Reuters)

Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

AIG's loss and record oil sour mood on Wall St (Reuters)

Reuters - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.

Countrywide falls on worry over B of A merger (Reuters)

Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

AIG sees no signs of mortgage asset market rebound yet (Reuters)

Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

Economy - Friday (Investor's Business Daily)
Investor's Business Daily - The world's largest economy will grow by less than a percent this year due to falling consumer sentiment, according to the Reuters/University of Michigan Surveys of Consumers. The U. Mich. confidence gauge hit a 26-year low in April. Consumers tend to believe the economy is in a recession when growth is near zero, said Richard Curtin, director of the survey. But economists are rethinking their recession forecasts in the face of resilient U.S. data.

Oil hits record $126 on supply worry (Reuters)

Reuters - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.