News Highlights: Top Equities Stories Of The Day
TOP STORIES
U.S. STOCKS DROP
Stocks extended their broad declines as weakness in overseas markets put investors in a cautious mood after U.S. stock benchmarks finished 2013 at record highs. The DJIA slid 110 points in recent trading.
U.S. JOBLESS CLAIMS FALL BY 2,000
Initial claims for jobless benefits, a measure of layoffs, decreased by 2,000 to a seasonally adjusted 339,000 in the week ended Dec. 28. Economists expected 345,000 new claims for the week.
DEAL FOR CHRYSLER SHARES SENDS FIAT STOCK HIGHER
Italian carmaker Fiat's shares rocketed nearly 16% as investors applauded Chief Executive Sergio Marchionne's deal to take full control of Chrysler, viewing the $4.35 billion price as a relative bargain.
U.S. MANUFACTURING SLOWS IN DECEMBER
The Institute for Supply Management's purchasing managers' index fell slightly to 57.0 in December from 57.3 in November. Economists were expecting a bigger decline to 56.8.
FINRA TO CRACK DOWN ON BROKERS WITH MANY COMPLAINTS
The U.S. brokerage industry's self-regulator said it would create a special enforcement team that will be focused on brokers whose records show a pattern of customer complaints and rules violations.
FANNIE-FREDDIE SETTLEMENT TAB IN 2013: $7.9 BILLION
Fannie Mae and Freddie Mac collected $7.9 billion last year in settlements with seven major financial institutions to resolve lawsuits filed by the firms' regulator, the Federal Housing Finance Agency said.
BILL GROSS'S FLAGSHIP FUND SUFFERS BIGGEST LOSS SINCE 1994
It was a bruising year for the world's biggest bond fund, Pimco's Total Return Fund, run by high-profile fund manager Bill Gross, as the fund suffered a loss of 1.92%, the biggest annual loss since 1994.
MARTHA STEWART LIVING, MACY'S SETTLE DISPUTE
Martha Stewart Living Omnimedia and Macy's have settled a legal dispute stemming from the homemaking maven's merchandising agreement with rival department-store retailer J.C. Penney.
EIKE BATISTA SELLS STAKE IN ANOTHER FIRM
Brazilian businessman Eike Batista has sold his stake in yet another company in an attempt to shore up the finances of his falling infrastructure empire, according to a top executive.
OIL PRICES SLIDE AMID LIBYA REPORTS
Oil futures skidded on a report that some halted Libyan oil production could resume, increasing global supplies. Nymex crude fell $1.67, or 1.7%, to $96.75 a barrel, its lowest intraday price since Dec. 16.
U.S. SENATORS URGE KARZAI NOT TO FREE 88 PRISONERS
Three U.S. senators urged Afghan President Hamid Karzai to sign a stalled bilateral security agreement and flagged a new U.S. concern, the proposed release of dozens of detainees deemed to be a threat to coalition forces.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Money Talks
THE EURO ZONE'S RECOVERY OR HANGOVER?
The latest batch of European manufacturing data offered up a mild irony: countries with their own currencies generally saw a softening performance while those in the euro zone mostly firmed, writes Alen Mattich.
Heard on the Street
FIAT'S CHRYSLER TRICK IS NO PANACEA
If you're going to buy a company, it helps to get the acquisition target to pay most of the cost. That is the trick Fiat has pulled off in a deal to buy the 41.5% of Chrysler it didn't already own, writes Andrew Peaple.
TOP STORIES
U.S. STOCKS DROP
Stocks extended their broad declines as weakness in overseas markets put investors in a cautious mood after U.S. stock benchmarks finished 2013 at record highs. The DJIA slid 110 points in recent trading.
U.S. JOBLESS CLAIMS FALL BY 2,000
Initial claims for jobless benefits, a measure of layoffs, decreased by 2,000 to a seasonally adjusted 339,000 in the week ended Dec. 28. Economists expected 345,000 new claims for the week.
DEAL FOR CHRYSLER SHARES SENDS FIAT STOCK HIGHER
Italian carmaker Fiat's shares rocketed nearly 16% as investors applauded Chief Executive Sergio Marchionne's deal to take full control of Chrysler, viewing the $4.35 billion price as a relative bargain.
U.S. MANUFACTURING SLOWS IN DECEMBER
The Institute for Supply Management's purchasing managers' index fell slightly to 57.0 in December from 57.3 in November. Economists were expecting a bigger decline to 56.8.
FINRA TO CRACK DOWN ON BROKERS WITH MANY COMPLAINTS
The U.S. brokerage industry's self-regulator said it would create a special enforcement team that will be focused on brokers whose records show a pattern of customer complaints and rules violations.
FANNIE-FREDDIE SETTLEMENT TAB IN 2013: $7.9 BILLION
Fannie Mae and Freddie Mac collected $7.9 billion last year in settlements with seven major financial institutions to resolve lawsuits filed by the firms' regulator, the Federal Housing Finance Agency said.
BILL GROSS'S FLAGSHIP FUND SUFFERS BIGGEST LOSS SINCE 1994
It was a bruising year for the world's biggest bond fund, Pimco's Total Return Fund, run by high-profile fund manager Bill Gross, as the fund suffered a loss of 1.92%, the biggest annual loss since 1994.
MARTHA STEWART LIVING, MACY'S SETTLE DISPUTE
Martha Stewart Living Omnimedia and Macy's have settled a legal dispute stemming from the homemaking maven's merchandising agreement with rival department-store retailer J.C. Penney.
EIKE BATISTA SELLS STAKE IN ANOTHER FIRM
Brazilian businessman Eike Batista has sold his stake in yet another company in an attempt to shore up the finances of his falling infrastructure empire, according to a top executive.
OIL PRICES SLIDE AMID LIBYA REPORTS
Oil futures skidded on a report that some halted Libyan oil production could resume, increasing global supplies. Nymex crude fell $1.67, or 1.7%, to $96.75 a barrel, its lowest intraday price since Dec. 16.
U.S. SENATORS URGE KARZAI NOT TO FREE 88 PRISONERS
Three U.S. senators urged Afghan President Hamid Karzai to sign a stalled bilateral security agreement and flagged a new U.S. concern, the proposed release of dozens of detainees deemed to be a threat to coalition forces.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Money Talks
THE EURO ZONE'S RECOVERY OR HANGOVER?
The latest batch of European manufacturing data offered up a mild irony: countries with their own currencies generally saw a softening performance while those in the euro zone mostly firmed, writes Alen Mattich.
Heard on the Street
FIAT'S CHRYSLER TRICK IS NO PANACEA
If you're going to buy a company, it helps to get the acquisition target to pay most of the cost. That is the trick Fiat has pulled off in a deal to buy the 41.5% of Chrysler it didn't already own, writes Andrew Peaple.
