News Highlights: Top Equities Stories Of The Day
TOP STORIES
U.S. STOCKS EDGE HIGHER
Stocks inched higher as investors digested the previous session's big gains, awaited speeches from a number of Federal Reserve bank presidents and looked ahead to the prospect of a budget deal later this week. The DJIA was up about 15 points.
AMERICAN AIRLINES, US AIRWAYS COMPLETE MERGER
American Airlines was born after AMR's American Airlines stepped out of bankruptcy and merged with US Airways. The initial distribution of new AAL shares will bring AMR common shareholders 3.5% of the equity of the combined company.
AMERICANS RECOUPING LOST WEALTH, FED DATA SHOW
The net worth of U.S. households and nonprofit organizations rose 2.6%, or about $1.9 trillion, in the third quarter of 2013 to $77.3 trillion, according to the Federal Reserve. Adjusted for rising costs, Americans' net worth is still roughly 1.4% below its peak.
HILTON MOVES UP IPO TO WEDNESDAY
Hilton has accelerated the timetable for its potential $2.7 billion IPO and is now planning on pricing its shares after markets close on Wednesday, instead of on Thursday, people familiar with the matter said.
SYSCO BUYS RIVAL US FOODS FOR $3.5 BILLION
Sysco said it would buy US Foods for $3.5 billion in stock and cash, creating a food-distribution giant with about $65 billion in annual revenue. Sysco shares rise 12%.
MCDONALD'S SAME-STORE SALES RISE
McDonald's global same-store sales rose 0.5% in November, with European restaurants making up for weakness in the U.S. and Japan. In the U.S., same-store sales sank 0.8%.
CHINA POSTS BIGGEST TRADE SURPLUS
China posted its biggest trade surplus in almost five years as soaring exports ran ahead of modest import growth, potentially resurrecting a source of friction with the U.S.
OIL FUTURES HOLD FLAT AFTER WEEK OF GAINS
Crude oil traded near flat after rising 5.3% the prior week on expectations of strong demand. Market participants are now waiting for fresh data before betting on higher prices or cashing in profits.
U.S. APPEALS COURT KEEPS NORTEL ON TRACK FOR TRIAL
Nortel Networks remains on course for a long and expensive trial next year over the $7.5 billion raised in its global liquidation, after a federal appeals court in Philadelphia refused to order the dispute to arbitration.
BOE'S CARNEY SEES SUSTAINED GLOBAL RECOVERY
Gloomy warnings that advanced economies have entered a long period of stagnation are overdone, but central bank support will be needed to nurture a sustained global recovery, Bank of England Gov. Mark Carney said.
EU NEARS COMPROMISE ON SINGLE RESOLUTION MECHANISM
European finance ministers were closing in on a new system to wind down sick banks, in which the failure of a lender could be partially financed by banks from other countries, according to two European officials.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal
MEXICO DEEPENS ENERGY REVAMP AMID PROTESTS
Protesters formed a human chain around Mexico's Senate as lawmakers began debate over the weekend on a bill to end state oil company Petroleos Mexicanos' decadeslong energy monopoly.
Heard on the Street
HSBC SHOULD STAY HOME
As plans go, the suggestion that HSBC Holdings list its U.K. arm is a bit of a head-scratcher, Andrew Peaple writes, as neither of the two main arguments why it would do so is particularly convincing.
TOP STORIES
U.S. STOCKS EDGE HIGHER
Stocks inched higher as investors digested the previous session's big gains, awaited speeches from a number of Federal Reserve bank presidents and looked ahead to the prospect of a budget deal later this week. The DJIA was up about 15 points.
AMERICAN AIRLINES, US AIRWAYS COMPLETE MERGER
American Airlines was born after AMR's American Airlines stepped out of bankruptcy and merged with US Airways. The initial distribution of new AAL shares will bring AMR common shareholders 3.5% of the equity of the combined company.
AMERICANS RECOUPING LOST WEALTH, FED DATA SHOW
The net worth of U.S. households and nonprofit organizations rose 2.6%, or about $1.9 trillion, in the third quarter of 2013 to $77.3 trillion, according to the Federal Reserve. Adjusted for rising costs, Americans' net worth is still roughly 1.4% below its peak.
HILTON MOVES UP IPO TO WEDNESDAY
Hilton has accelerated the timetable for its potential $2.7 billion IPO and is now planning on pricing its shares after markets close on Wednesday, instead of on Thursday, people familiar with the matter said.
SYSCO BUYS RIVAL US FOODS FOR $3.5 BILLION
Sysco said it would buy US Foods for $3.5 billion in stock and cash, creating a food-distribution giant with about $65 billion in annual revenue. Sysco shares rise 12%.
MCDONALD'S SAME-STORE SALES RISE
McDonald's global same-store sales rose 0.5% in November, with European restaurants making up for weakness in the U.S. and Japan. In the U.S., same-store sales sank 0.8%.
CHINA POSTS BIGGEST TRADE SURPLUS
China posted its biggest trade surplus in almost five years as soaring exports ran ahead of modest import growth, potentially resurrecting a source of friction with the U.S.
OIL FUTURES HOLD FLAT AFTER WEEK OF GAINS
Crude oil traded near flat after rising 5.3% the prior week on expectations of strong demand. Market participants are now waiting for fresh data before betting on higher prices or cashing in profits.
U.S. APPEALS COURT KEEPS NORTEL ON TRACK FOR TRIAL
Nortel Networks remains on course for a long and expensive trial next year over the $7.5 billion raised in its global liquidation, after a federal appeals court in Philadelphia refused to order the dispute to arbitration.
BOE'S CARNEY SEES SUSTAINED GLOBAL RECOVERY
Gloomy warnings that advanced economies have entered a long period of stagnation are overdone, but central bank support will be needed to nurture a sustained global recovery, Bank of England Gov. Mark Carney said.
EU NEARS COMPROMISE ON SINGLE RESOLUTION MECHANISM
European finance ministers were closing in on a new system to wind down sick banks, in which the failure of a lender could be partially financed by banks from other countries, according to two European officials.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal
MEXICO DEEPENS ENERGY REVAMP AMID PROTESTS
Protesters formed a human chain around Mexico's Senate as lawmakers began debate over the weekend on a bill to end state oil company Petroleos Mexicanos' decadeslong energy monopoly.
Heard on the Street
HSBC SHOULD STAY HOME
As plans go, the suggestion that HSBC Holdings list its U.K. arm is a bit of a head-scratcher, Andrew Peaple writes, as neither of the two main arguments why it would do so is particularly convincing.
