Urban Outfitters said four-quarter sales rose 9% to $731 million. While that falls short of the top line—$742 million—that analysts were expecting, each of the company's brands enjoyed record sales in the period. Markdowns helped it clear out inventory.

Federal securities regulators plan to warn several major banks that they intend to sue them over mortgage-related actions linked to the financial crisis.

The volume of spine surgery, which is an increasing cost in the U.S. health system, rose sharply at two small California hospitals that focused on workers' compensation patients and used a marketing consultant who helped bring doctors to the hospitals.

Government officials are on the verge of an agreement worth as much as $25 billion with five major banks, capping a yearlong push to settle federal and state probes of alleged foreclosure abuses by lenders.

Yahoo's new CEO Scott Thompson aims to turn around the Internet company at least in part by making it less dependent on its core online-ad business.