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Go to the admin panel. From there select Seytem Admin>>Templates>>News
If you are only useing the default templat, you must make a clone. After you make a clone, you have to go to general prefernces and set the new template as default to see you changes. Once that is done, go back to the template page and select the news template from the new template you just cloned.
If you renamed your news module in System Admin>>Modules, that is the name you will see in your Template Set Manager.
Once you are in your appropriate news section, you should see 8 templates. I believe the one you want is called news_index_.html, but I can't remember for certain. You may have to poke around some for the correct template. You will then be able to edit or add to how it looks, including text, etc...
Hope this helps.
Also, as an alternative, you can use a module called Spotlight (run a search for it). This module will display your news a little bit differently on the home page. You can also edit this template once it's installed to however you wish. The reason I suggest this is because it just one template file and you can organise your elements in tables and layout the presentation of you news much easier because it has only one template.
Anyway, feel free to ask for further help if needed.