News Highlights: Top Equities Stories Of The Day
TOP STORIES
YAHOO TO BUY TUMBLR FOR $1.1B IN CASH
Yahoo has agreed to pay $1.1 billion for Tumblr, a six-year-old company with more than 100 million users but very little revenue, a deal that highlights the shifting balance of power in the technology business.
ACTAVIS TO BUY WARNER CHILCOTT FOR $5B IN STOCK
Drug maker Actavis agreed to acquire Warner Chilcott for about $5 billion in an all-stock deal aimed at enlarging Actavis's portfolio of specialty pharmaceutical brands and shrinking its tax burden.
U.S. STOCKS FLAT IN DULL TRADING
Stocks were mixed with the DJIA barely lower as equities take a breather from their multi-week rally. Investors continue to grapple with questions over the timing and extent of the Fed's plan to ease up on asset purchases.
CHICAGO NATIONAL ACTIVITY INDEX FALLS IN APRIL
A decline in U.S. industrial production in April sent a closely watched barometer of the economy to its lowest level since January, as the Chicago Federal Reserve's National Activity Index fell to -0.53 from -0.23 in March.
CRIMINAL CHARGES WEIGHED FOR SAC
U.S. prosecutors are considering possible criminal charges against SAC Capital Advisors as a result of the government's insider-trading investigation of the hedge-fund firm, according to people familiar with the matter.
GOLDMAN SACHS RAISES $1.1B VIA ICBC STAKE SALES
Goldman Sachs is selling its entire stake in Industrial & Commercial Bank of China for about US$1.1 billion, exiting an investment it made in China's biggest bank seven years ago.
NBCUNIVERSAL NAMES TURNESS PRESIDENT OF NBC NEWS
NBCUniversal News Group confirmed it hired Deborah Turness, the editor of Britain's ITV News, as the next president of NBC News, making her the first woman to lead a U.S. broadcast news division.
GE CAPITAL PLANS TO PAY PARENT $6.5B 2013 DIVIDEND
General Electric said GE Capital's board approved a $6.5 billion dividend payment to the conglomerate. GE Capital said the total payment comprises $4.5 billion in special dividends.
CHINA CURRENCY-RESERVE MANAGER SETS UP N.Y. OFFICE
China's currency-reserves manager has set up a U.S. operation aimed at investments such as private equity, real estate and other alternative asset classes, as it seeks to step up diversification of its massive portfolio away from U.S. government debt.
OIL FUTURES TURN HIGHER AS STOCK MARKET RALLIES
Oil futures rallied for a fourth straight session, reversing earlier losses after the stock market climbed, as investors are hopeful that the U.S. economy is continuing to improve.
VISTA EQUITY PARTNERS TO BUY WEBSENSE FOR $1B
Buyout firm Vista Equity Partners agrees to buy cyber-security software maker Websense in a deal valued at around $1 billion. Shareholders would receive $24.75 a share in cash in the deal. Websense shares jump 29%.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Analysis
JAPAN'S BROKERAGES LOOK ABROAD DESPITE BOOM AT HOME
Booming stock markets at home have helped drive earnings at Japan's two biggest brokerage houses to multiyear highs. But the companies still see the rest of Asia as key to profits in the long term, writes Atsuko Fukase.
Money Talks
WHY PRECIOUS METALS ARE TAKING A PASTING
Gold and silver prices have been falling sharply caused by a combination of a healthier U.S. economy and momentum, Alen Mattich writes. But the problem with precious metals is the lack of fundamental metrics to price them against.
TOP STORIES
YAHOO TO BUY TUMBLR FOR $1.1B IN CASH
Yahoo has agreed to pay $1.1 billion for Tumblr, a six-year-old company with more than 100 million users but very little revenue, a deal that highlights the shifting balance of power in the technology business.
ACTAVIS TO BUY WARNER CHILCOTT FOR $5B IN STOCK
Drug maker Actavis agreed to acquire Warner Chilcott for about $5 billion in an all-stock deal aimed at enlarging Actavis's portfolio of specialty pharmaceutical brands and shrinking its tax burden.
U.S. STOCKS FLAT IN DULL TRADING
Stocks were mixed with the DJIA barely lower as equities take a breather from their multi-week rally. Investors continue to grapple with questions over the timing and extent of the Fed's plan to ease up on asset purchases.
CHICAGO NATIONAL ACTIVITY INDEX FALLS IN APRIL
A decline in U.S. industrial production in April sent a closely watched barometer of the economy to its lowest level since January, as the Chicago Federal Reserve's National Activity Index fell to -0.53 from -0.23 in March.
CRIMINAL CHARGES WEIGHED FOR SAC
U.S. prosecutors are considering possible criminal charges against SAC Capital Advisors as a result of the government's insider-trading investigation of the hedge-fund firm, according to people familiar with the matter.
GOLDMAN SACHS RAISES $1.1B VIA ICBC STAKE SALES
Goldman Sachs is selling its entire stake in Industrial & Commercial Bank of China for about US$1.1 billion, exiting an investment it made in China's biggest bank seven years ago.
NBCUNIVERSAL NAMES TURNESS PRESIDENT OF NBC NEWS
NBCUniversal News Group confirmed it hired Deborah Turness, the editor of Britain's ITV News, as the next president of NBC News, making her the first woman to lead a U.S. broadcast news division.
GE CAPITAL PLANS TO PAY PARENT $6.5B 2013 DIVIDEND
General Electric said GE Capital's board approved a $6.5 billion dividend payment to the conglomerate. GE Capital said the total payment comprises $4.5 billion in special dividends.
CHINA CURRENCY-RESERVE MANAGER SETS UP N.Y. OFFICE
China's currency-reserves manager has set up a U.S. operation aimed at investments such as private equity, real estate and other alternative asset classes, as it seeks to step up diversification of its massive portfolio away from U.S. government debt.
OIL FUTURES TURN HIGHER AS STOCK MARKET RALLIES
Oil futures rallied for a fourth straight session, reversing earlier losses after the stock market climbed, as investors are hopeful that the U.S. economy is continuing to improve.
VISTA EQUITY PARTNERS TO BUY WEBSENSE FOR $1B
Buyout firm Vista Equity Partners agrees to buy cyber-security software maker Websense in a deal valued at around $1 billion. Shareholders would receive $24.75 a share in cash in the deal. Websense shares jump 29%.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Analysis
JAPAN'S BROKERAGES LOOK ABROAD DESPITE BOOM AT HOME
Booming stock markets at home have helped drive earnings at Japan's two biggest brokerage houses to multiyear highs. But the companies still see the rest of Asia as key to profits in the long term, writes Atsuko Fukase.
Money Talks
WHY PRECIOUS METALS ARE TAKING A PASTING
Gold and silver prices have been falling sharply caused by a combination of a healthier U.S. economy and momentum, Alen Mattich writes. But the problem with precious metals is the lack of fundamental metrics to price them against.
