News Highlights: Top Equities Stories Of The Day
Post# of 29853
Posted On: 03/08/2013 6:58:51 AM
News Highlights: Top Equities Stories Of The Day
TOP STORIES
U.S. STOCKS HOLD GAINS, BANKS LEAD
Another rosy labor-market reading helps push blue chips to fresh highs, as other major benchmarks gain with bank stocks adding to the advance. The Dow Jones Industrial Average is up 45 points, a touch off its session highs.
U.S. JOBLESS CLAIMS FALL TO 340,000; TRADE GAP WIDENS
The number of U.S. workers filing new applications for jobless benefits unexpectedly drops to 340,000 while the four-week moving average falls to a 5-year low. Separately, the U.S January trade deficit widens 17%, fueled by higher oil imports.
ECB GIVES LITTLE HOPE OF MORE ACTION
The European Central Bank cuts its forecasts for the euro-zone economy this year and next, but its president plays down the possibility of taking further steps to revive it.
TIME WARNER TO SPIN OFF TIME INC. MAGAZINE GROUP
Time Warner decides to spin off its entire Time Inc. magazine group, it says, giving up on talks with Meredith over the proposed merger of most of their titles.
U.S. HOUSEHOLDS' NET WORTH ROSE IN 4Q
The net worth of U.S. families rose by $1.17 trillion at the end of 2012 to the highest level since before the recession, as rising home values and gains in stock holdings boosted household balance sheets.
BOEHNER TO INSIST ON SPENDING CUTS WITH BUDGET CEILING
House Speaker John Boehner says he would continue to insist that the next debt ceiling increase be accompanied by matching spending cuts, raising the prospects of a high-stakes showdown when the borrowing limit expires this spring.
U.S. RETAILERS POST MODERATE SALES FOR FEBRUARY
U.S. retailers are posting moderate sales for February, dealing with mixed signals like payroll tax increases and later income tax refunds that were countered by a rousing stock market and better housing reports.
ICAHN PROPOSES $9 DIVIDEND IF DELL DEAL FAILS
Carl Icahn proposes a huge special dividend if a planned $24.4 billion leveraged buyout by founder Michael Dell fails, and threatens the company with "years of litigation" if it doesn't combine a vote on the deal with its annual meeting.
NAVISTAR NAMES CLARKE CEO; LOSS NARROWS
Commercial-truck maker names Troy Clarke its new CEO as it separates its chairman and chief executive roles. Company's loss narrows to $123 million, or $1.53 a share, beating estimates, as expenses drop 15%. Shares soar 25%.
OIL FUTURES CLIMB ON IMPROVING U.S. JOBS SIGNALS
U.S. oil futures prices are moving higher, trading near $91 a barrel despite a jump in weekly inventories as traders hope that an improving jobs picture will boost oil demand.
KROGER SWINGS TO PROFIT WITH ABSENCE OF CHARGES
Kroger swings to a 4Q profit of $461.5 million, or 88 cents a share, against a loss last year on pension charges, as the grocery-store operator posts a 13% jump in sales to $24.15 billion.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Big Picture
SLOWER PRODUCTIVITY CREATES RISK FOR STOCK BULLS
Instead of hiring new workers, U.S. companies have gotten more output out of their existing workforce. But the strategy may no longer work in 2013, writes Kathleen Madigan.
Heard on the Street
ZIGGO'S UNLIKELY CABLE GUY
Rene Obermann's departure as CEO of Deutsche Telekom to take the helm at Dutch cable operator Ziggo, a company worth a tenth of the enterprise value, is a ringing endorsement of Europe's red-hot cable sector, writes Renee Schultes.
TOP STORIES
U.S. STOCKS HOLD GAINS, BANKS LEAD
Another rosy labor-market reading helps push blue chips to fresh highs, as other major benchmarks gain with bank stocks adding to the advance. The Dow Jones Industrial Average is up 45 points, a touch off its session highs.
U.S. JOBLESS CLAIMS FALL TO 340,000; TRADE GAP WIDENS
The number of U.S. workers filing new applications for jobless benefits unexpectedly drops to 340,000 while the four-week moving average falls to a 5-year low. Separately, the U.S January trade deficit widens 17%, fueled by higher oil imports.
ECB GIVES LITTLE HOPE OF MORE ACTION
The European Central Bank cuts its forecasts for the euro-zone economy this year and next, but its president plays down the possibility of taking further steps to revive it.
TIME WARNER TO SPIN OFF TIME INC. MAGAZINE GROUP
Time Warner decides to spin off its entire Time Inc. magazine group, it says, giving up on talks with Meredith over the proposed merger of most of their titles.
U.S. HOUSEHOLDS' NET WORTH ROSE IN 4Q
The net worth of U.S. families rose by $1.17 trillion at the end of 2012 to the highest level since before the recession, as rising home values and gains in stock holdings boosted household balance sheets.
BOEHNER TO INSIST ON SPENDING CUTS WITH BUDGET CEILING
House Speaker John Boehner says he would continue to insist that the next debt ceiling increase be accompanied by matching spending cuts, raising the prospects of a high-stakes showdown when the borrowing limit expires this spring.
U.S. RETAILERS POST MODERATE SALES FOR FEBRUARY
U.S. retailers are posting moderate sales for February, dealing with mixed signals like payroll tax increases and later income tax refunds that were countered by a rousing stock market and better housing reports.
ICAHN PROPOSES $9 DIVIDEND IF DELL DEAL FAILS
Carl Icahn proposes a huge special dividend if a planned $24.4 billion leveraged buyout by founder Michael Dell fails, and threatens the company with "years of litigation" if it doesn't combine a vote on the deal with its annual meeting.
NAVISTAR NAMES CLARKE CEO; LOSS NARROWS
Commercial-truck maker names Troy Clarke its new CEO as it separates its chairman and chief executive roles. Company's loss narrows to $123 million, or $1.53 a share, beating estimates, as expenses drop 15%. Shares soar 25%.
OIL FUTURES CLIMB ON IMPROVING U.S. JOBS SIGNALS
U.S. oil futures prices are moving higher, trading near $91 a barrel despite a jump in weekly inventories as traders hope that an improving jobs picture will boost oil demand.
KROGER SWINGS TO PROFIT WITH ABSENCE OF CHARGES
Kroger swings to a 4Q profit of $461.5 million, or 88 cents a share, against a loss last year on pension charges, as the grocery-store operator posts a 13% jump in sales to $24.15 billion.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Big Picture
SLOWER PRODUCTIVITY CREATES RISK FOR STOCK BULLS
Instead of hiring new workers, U.S. companies have gotten more output out of their existing workforce. But the strategy may no longer work in 2013, writes Kathleen Madigan.
Heard on the Street
ZIGGO'S UNLIKELY CABLE GUY
Rene Obermann's departure as CEO of Deutsche Telekom to take the helm at Dutch cable operator Ziggo, a company worth a tenth of the enterprise value, is a ringing endorsement of Europe's red-hot cable sector, writes Renee Schultes.
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