General Motors Corp. (NYSE:GM) fell 0.9%, even after the company returned to profitability in the fourth quarter, when it said that it is refunding $1 billion to its financing unit GMAC after selling 51% of the lending unit due to losses at its residential mortgage business.

Citigroup (NYSE:C) rose 0.7% after one of its executives said the bank won't lift its offer for Nikko Cordial any further. This is good news for investors after the company had already hiked its bid by 26% to $13.4 billion on Tuesday.

Google (NDAQ:GOOG) fell briefly today after Viacom (NYSE:VIA) filed a $1 billion lawsuit alleging that its YouTube unit used more than 160,000 of its videos without permission. Despite its prior successes, Viacom will likely face strong opposition by the well capitalized darling of Wall Street.

Accredited Home Lenders (NYSE:LEND) shares dropped over 65% after it said it is seeking more capital and exploring strategic options after paying about $190 million in margin calls since January 1st. This is the latest subprime lender that has been experiencing issues with the drastic increases in defaults.

New Century Financial (NYSE:NEW) shares were suspended today after the NYSE officially delisted their stock after shares fell by more than 50%. The company said that its obligations to Credit Suisse First Boston Mortgage Capital were $1.4 billion, up from the prior estimate of $900 million.

Boeing Co. (NYSE:BA) shares rose 1.9% after Continental Airlines increased a previous order of 20 Boeing 787 jets to 25.

Schering-Plough Corp. (NYSE:SGP) agreed to purchase Organon biosciences for $14.4 billion in cash from Holland's Akzo Nobel, which previously planned to sell part of the unit through an IPO.

Dollar General Corp. (NYSE:DG) jumped 25% after it agreed to be acquired by affiliates of buyout firm KKR in a transaction worth $7.3 billion.