News Highlights: Top Equities Stories Of The Day
Source: Dow Jones News
TOP STORIES GLOBAL STOCKS RISE AS CHINA STABILIZES
Global stocks rose Tuesday amid signs of stabilization in Chinese markets and a rebound in oil prices.
OIL EDGES CLOSER TO $30 A BARREL
Crude-oil prices fell as traders built up short positions amid crumbling confidence in the Chinese economy and a growing global glut.
SUICIDE BOMBING IN ISTANBUL TOURIST AREA KILLS AT LEAST 10
The attack in the heart of Istanbul's historic tourist district was carried out by a Syrian man in his late 20s, Turkish authorities say, pointing to involvement by the extremist group Islamic State.
BP TO LAY OFF ABOUT 4,000 WORKERS
Oil giant BP said it will lay off about 4,000 workers from its exploration and production business over the next year or so, the latest in a wave of cuts across an industry beset by plummeting oil prices.
ASIAN BREWERS MULL $3 BILLION BIDS FOR PERONI, GROLSCH BRANDS
Asian brewers are considering bids over $3 billion to buy beer brands Peroni and Grolsch, which are being sold to win clearance for the AB InBev-SABMiller merger.
FORD'S EUROPE AUTO SALES RISE 10%
Ford's European new-vehicle sales rose 10% in 2015 as the Detroit auto maker continues to see rising demand there.
GAMESTOP SAYS HOLIDAY SALES ROSE 1.8%
GameStop said its sales for the holiday season rose 1.8%, and it narrowed its earnings guidance for the quarter and year.
ABBVIE, GENENTECH LEUKEMIA THERAPY GRANTED FDA PRIORITY REVIEW
AbbVie Inc. and Genentech said the U.S. Food and Drug Administration granted priority review status to their treatment for lymphocytic leukemia as a secondary therapy.
BRAZIL'S PETROBRAS SLASHES INVESTMENT PLAN
Brazilian state-run oil company Petró leo Brasileiro SA trimmed its production targets and drastically cut its investment budget for the coming years after its sanguine projections for oil prices and exchange rates didn't pan out and as it struggles to sell assets.
STARBOARD PARES DARDEN STAKE BY 11%
Activist investor Starboard Value LP has pared its stake in Darden Restaurants Inc. by about 11%, looking to take advantage of the "significant appreciation" in the restaurant owner's stock price.
TATA CONSULTANCY SERVICES OCT-DEC PROFIT RISES 14.2%
India's Tata Consultancy Services Ltd. on Tuesday reported a 14.2% rise in its fiscal third-quarter net profit as the company continues to shift its focus to offering new kinds of technological services.
HORIZON PHARMA LIFTS SALES GUIDANCE
Horizon Pharma PLC on Tuesday lifted its yearly sales guidance with the expectation of closing its acquisition of Crealta Holdings LLC this week.
BRAZIL'S VALE WILL DRAW $3 BILLION FROM CREDIT LINES
Brazilian mining giant Vale said it will draw $3 billion from revolving credit lines to help pay off bonds due this month after taking longer than expected to sell assets amid the commodity downturn.
AMERICAN AIRLINES TO TAKE $592 MILLION WRITE-OFF ON VENEZUELAN CURRENCY
American Airlines Group Inc. said it would take a $592 million write-off in its fourth quarter on the Venezuelan currency it holds.
STARBUCKS PLANS THOUSANDS OF NEW COFFEE SHOPS IN CHINA
Starbucks is upping its bet on Chinese consumers' taste for coffee, despite global jitters over the country's slowing economy and market turmoil.
GM BUILDS VOLUME FROM TRUCK BRAND
General Motors' GMC brand sells just six models compared to its larger Chevrolet brand, with 19 models, but the business is contributing strong profit by sticking to a formula of selling just high-end trucks and sport-utility vehicles.
INDIAN STARTUP SHOPCLUES BAGS $1 BILLION VALUATION
Indian e-commerce company Shopclues.com said Tuesday it has become the latest startup to receive a billion-dollar valuation from investors, as the company gears up to go public next year.
ZOETIS CUTS ESTIMATES AFTER EUROPEAN COMMISSION TAX RULING
Animal-health company Zoetis said a European Commission order Monday to recover unpaid taxes from multinationals could cut its profits this year and in 2017.
EXPRESS RAISES OUTLOOK
Apparel retailer Express Inc. on Tuesday raised its earnings forecast, citing a solid holiday season.
GREECE RENEWS ANTI-AUSTERITY CALLS
Greece's left-led government has renewed its challenge to its creditors' austerity policies, vowing to resist further pension cuts.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= Heard on the Street AMID MARKETS TURMOIL, EUROZONE BONDS FIND A SHIELD
European stock-market turmoil hasn't infected southern European government bonds. ECB policy is proving powerful in that regard.
Property Report FOR PROPERTY FIRMS VEREIT, RISING FROM ASHES OF SCANDAL TAKES A WHILE
A year into Glenn Rufrano's plan to turn around Vereit, formerly American Realty Capital Properties, the new CEO has installed outsiders in key positions and sold off $1.4 billion of assets. But its continuing struggles in regaining investor trust underscore the damage from an accounting scandal.
(END) Dow Jones Newswires
January 12, 2016 10:01 ET (15:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Source: Dow Jones News
TOP STORIES GLOBAL STOCKS RISE AS CHINA STABILIZES
Global stocks rose Tuesday amid signs of stabilization in Chinese markets and a rebound in oil prices.
OIL EDGES CLOSER TO $30 A BARREL
Crude-oil prices fell as traders built up short positions amid crumbling confidence in the Chinese economy and a growing global glut.
SUICIDE BOMBING IN ISTANBUL TOURIST AREA KILLS AT LEAST 10
The attack in the heart of Istanbul's historic tourist district was carried out by a Syrian man in his late 20s, Turkish authorities say, pointing to involvement by the extremist group Islamic State.
BP TO LAY OFF ABOUT 4,000 WORKERS
Oil giant BP said it will lay off about 4,000 workers from its exploration and production business over the next year or so, the latest in a wave of cuts across an industry beset by plummeting oil prices.
ASIAN BREWERS MULL $3 BILLION BIDS FOR PERONI, GROLSCH BRANDS
Asian brewers are considering bids over $3 billion to buy beer brands Peroni and Grolsch, which are being sold to win clearance for the AB InBev-SABMiller merger.
FORD'S EUROPE AUTO SALES RISE 10%
Ford's European new-vehicle sales rose 10% in 2015 as the Detroit auto maker continues to see rising demand there.
GAMESTOP SAYS HOLIDAY SALES ROSE 1.8%
GameStop said its sales for the holiday season rose 1.8%, and it narrowed its earnings guidance for the quarter and year.
ABBVIE, GENENTECH LEUKEMIA THERAPY GRANTED FDA PRIORITY REVIEW
AbbVie Inc. and Genentech said the U.S. Food and Drug Administration granted priority review status to their treatment for lymphocytic leukemia as a secondary therapy.
BRAZIL'S PETROBRAS SLASHES INVESTMENT PLAN
Brazilian state-run oil company Petró leo Brasileiro SA trimmed its production targets and drastically cut its investment budget for the coming years after its sanguine projections for oil prices and exchange rates didn't pan out and as it struggles to sell assets.
STARBOARD PARES DARDEN STAKE BY 11%
Activist investor Starboard Value LP has pared its stake in Darden Restaurants Inc. by about 11%, looking to take advantage of the "significant appreciation" in the restaurant owner's stock price.
TATA CONSULTANCY SERVICES OCT-DEC PROFIT RISES 14.2%
India's Tata Consultancy Services Ltd. on Tuesday reported a 14.2% rise in its fiscal third-quarter net profit as the company continues to shift its focus to offering new kinds of technological services.
HORIZON PHARMA LIFTS SALES GUIDANCE
Horizon Pharma PLC on Tuesday lifted its yearly sales guidance with the expectation of closing its acquisition of Crealta Holdings LLC this week.
BRAZIL'S VALE WILL DRAW $3 BILLION FROM CREDIT LINES
Brazilian mining giant Vale said it will draw $3 billion from revolving credit lines to help pay off bonds due this month after taking longer than expected to sell assets amid the commodity downturn.
AMERICAN AIRLINES TO TAKE $592 MILLION WRITE-OFF ON VENEZUELAN CURRENCY
American Airlines Group Inc. said it would take a $592 million write-off in its fourth quarter on the Venezuelan currency it holds.
STARBUCKS PLANS THOUSANDS OF NEW COFFEE SHOPS IN CHINA
Starbucks is upping its bet on Chinese consumers' taste for coffee, despite global jitters over the country's slowing economy and market turmoil.
GM BUILDS VOLUME FROM TRUCK BRAND
General Motors' GMC brand sells just six models compared to its larger Chevrolet brand, with 19 models, but the business is contributing strong profit by sticking to a formula of selling just high-end trucks and sport-utility vehicles.
INDIAN STARTUP SHOPCLUES BAGS $1 BILLION VALUATION
Indian e-commerce company Shopclues.com said Tuesday it has become the latest startup to receive a billion-dollar valuation from investors, as the company gears up to go public next year.
ZOETIS CUTS ESTIMATES AFTER EUROPEAN COMMISSION TAX RULING
Animal-health company Zoetis said a European Commission order Monday to recover unpaid taxes from multinationals could cut its profits this year and in 2017.
EXPRESS RAISES OUTLOOK
Apparel retailer Express Inc. on Tuesday raised its earnings forecast, citing a solid holiday season.
GREECE RENEWS ANTI-AUSTERITY CALLS
Greece's left-led government has renewed its challenge to its creditors' austerity policies, vowing to resist further pension cuts.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= Heard on the Street AMID MARKETS TURMOIL, EUROZONE BONDS FIND A SHIELD
European stock-market turmoil hasn't infected southern European government bonds. ECB policy is proving powerful in that regard.
Property Report FOR PROPERTY FIRMS VEREIT, RISING FROM ASHES OF SCANDAL TAKES A WHILE
A year into Glenn Rufrano's plan to turn around Vereit, formerly American Realty Capital Properties, the new CEO has installed outsiders in key positions and sold off $1.4 billion of assets. But its continuing struggles in regaining investor trust underscore the damage from an accounting scandal.
(END) Dow Jones Newswires
January 12, 2016 10:01 ET (15:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
