Social network giant pulls trigger on long-awaited IPO, pricing its shares at $38 in a $16 billion deal — the largest debut ever for a technology firm.

This weekend’s Group of Eight meeting will try to bridge the gap between Europe’s leaders amid intensifying tensions in the euro zone, a White House official says.

Pacific Sunwear of California Inc.'s PSUN fiscal first-quarter loss narrowed on improved same-store sales and margins. Shares surged 23% to $1.45 after-hours as same-store sales came in at the high end of company projections and the loss wasn't as bad as expected. As of Thursday's close, the stock was down 31% so far in 2012.

With the additional sales planned this week, early investors are now selling more Facebook stock — and pocketing more money from the offering — than the social network itself, writes John Shinal

History of recent popular IPOs suggests a boost for brokerages is likely when Facebook debuts Friday.

J.P. Morgan Chase & Co. falls more than 4% after a report of further derivatives losses. Sector is further pressured by grim economic data.

U.S. stocks drop on Thursday, with the Dow industrials down for an 11th out of 12 sessions, as a disappointing gauge of manufacturing in the Philadelphia region adds to worries about Europe.

Oil falls further below $93 a barrel and the broad equities market pulls back, setting up losses in energy stocks for the 11th of the past 12 trading sessions.

Shares head higher as Sears Holdings swings to a first-quarter profit on stronger sales and says it plans to spin off part of Sears Canada. .

(Updates with Vale spokeswoman declining comment) SAO PAULO -(MarketWatch)- Brazilian mining company Vale SA (VALE, VALE5.BR) has hired Bank of Nova Scotia BNS and Citigroup Inc. C to help sell its oil and gas exploration blocks in Brazil, according to a person familiar with the transaction. Earlier, Bloomberg News cited one person as saying that Vale's oil exploration fields may be worth as much as $1 billion, without divulging the source.