A Picasso painting missing from Paris for more than a decade has resurfaced in New Jersey. The New York Times reports.» Read More
NEW YORK, March 2- U.S. Pharmaceutical company Actavis on Monday was marketing bonds that are expected to total $22 billion, the second largest amount ever sold by a corporate borrower. "Corporate deals are weighing on the market, and we've heard of some allocation out of bonds into equities," said Sean Murphy, a Treasuries trader at Societe Generale in New York.
*Palladium reaches 5-1/ 2- month high at $832.15/ oz. NEW YORK/ LONDON, March 2- Gold turned lower on Monday as the U.S. dollar rose and investors cashed in gains after upbeat Asian demand lifted the metal to two-week highs, with expectations for a rise in U.S. interest rates later this year keeping a lid on prices. Earlier, spot prices rose to $1,223.20 an ounce, their...
NEW YORK, March 2- Morgan Stanley's is in discussions with New York's attorney general to settle accusations that the Wall Street bank mishandled subprime mortgage deals before the 2008 financial crisis, a person familiar with the matter said on Monday. Any settlement would be separate from a $2.6 billion agreement Morgan Stanley reached last month with the...
*Consumer spending falls 0.2 percent in January. WASHINGTON, March 2- U.S. consumer spending fell for a second straight month in January as households continued to cut back on purchases, opting to save much of the massive windfall from cheaper gasoline. All the gas savings are ending up at the bank rather than being spent, "Thomas Costerg, an economist at Standard...
*Markit manufacturing hits 4- month high. NEW YORK, March 2- U.S. stocks advanced on Monday, with the Nasdaq nudging above the 5,000 mark for the first time in 15 years, as a round of mixed data pointed to a slowly accelerating economy. Fundamentals are good enough at technology companies, the biggest group on Nasdaq, that the index should be able to stay above 5000, said...
"We believe that Webster is now trading at an over $1 billion discount to fair value," the New York- based fund wrote in a letter sent to Webster Chief Executive Officer James Smith and seen by Reuters. Kerrisdale began accumulating its 2 million shares, or roughly 2 percent stake, in Webster in January, founder Sahm Adrangi told Reuters. Connecticut- based Webster...
General Mills Inc. fell$. 40 or. 7 percent, to $53.39. Hormel Foods Corp. fell$. 17 or. 3 percent, to $58.34. Mondelez International Inc. fell$. 04 or. 1 percent, to $36.90.
NEW YORK— Shares of some top telecom companies are down at 1 p.m.:. AT&T Inc. fell$. 16 or. 4 percent, to $34.41. Verizon Communications Inc. fell$. 20 or. 4 percent, to $49.26.
Delta Air rose$. 70 or 1.6 percent, to $45.22. JetBlue Airways Corp. rose$. 31 or 1.8 percent, to $17.50. Southwest Airlines Co. rose$. 70 or 1.6 percent, to $43.94.
Kelly Services Inc. class A rose$. 76 or 4.4 percent, to $18.07. Korn/Ferry International Inc. rose$. 29 or. 9 percent, to $30.89. ManpowerGroup rose$. 61 or. 8 percent, to $81.07.
Lockheed Martin Corp. rose $2.49 or 1.2 percent, to $202.54. Northrop Grumman Corp. rose $1.34 or. 8 percent, to $167.05. Raytheon rose $1.85 or 1.7 percent, to $110.62.
American Electric Power Co. fell $1.35 or 2.3 percent, to $56.23. Consolidated Edison Inc. Holding Co. fell $1.24 or 2.0 percent, to $61.91. Dominion Resources Inc. fell $1.65 or 2.3 percent, to $70.44.
Ford Motor Co. rose$. 16 or. 9 percent, to $16.50. General Motors Co. rose$. 21 or. 6 percent, to $37.52. Honda Motor Co. rose$. 10 or. 3 percent, to $33.24.
Comcast Corp. rose$. 40 or. 7 percent, to $59.78. Walt Disney Co. rose $1.71 or 1.6 percent, to $105.79. Gannett rose$. 34 or 1.0 percent, to $35.74.
Autozone Inc. fell$. 68 or. 1 percent, to $642.00. Bed Bath& Beyond Inc. rose$. 61 or. 8 percent, to $75.27. Best Buy rose$. 24 or. 6 percent, to $38.34.
American Express Co. rose$. 41 or. 5 percent, to $82.00. Capital One Financial Corp. rose$. 24 or. 3 percent, to $78.95. Discover Financial Services fell$. 54 or. 9 percent, to $60.44.
NEW YORK— Shares of some top chemicals companies are up at 1 p.m.:. Dow Chemical Co. rose$. 06 or. 1 percent, to $49.30. DuPont Co. rose$. 26 or. 3 percent, to $78.11.
Las Vegas Sands Corp. fell$. 45 or. 8 percent, to $56.45. MGM Resorts International rose$. 14 or. 7 percent, to $21.87. Marriott International Inc. rose $1.01 or 1.2 percent, to $84.11.
DR Horton fell$. 17 or. 6 percent, to $27.14. Hovnanian Enterprises Inc. rose$. 12 or 3.2 percent, to $3.86. Lennar Corp. fell$. 38 or. 8 percent, to $49.83.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. Bank of America Corp. rose. 8 percent to $15.93 with 40,291,500 shares traded. Boston Scientific Corp. rose. 8 percent to $17.03 with 12,817,100 shares traded.