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Stocks closed modestly lower in a volatile session as market participants weighed better U.S. economic data against the fears the Fed may soon start to curtail its bond buying.
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General Electric and Pearson said on Thursday they will not pursue a joint offer for publisher Dow Jones, removing a potential challenge to a $5-billion bid by Rupert Murdoch's News Corp.
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Mark Husson, a retail analyst at HSBC Securities, told CNBC’s “Morning Call” that Wal-Mart’s decision to open financial services centers and launch a prepaid Visa card are an effort to monetize the huge flow of customers into its stores.
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Airbus added more multi-billion dollar orders to its Paris air show haul on Wednesday, but analysts said the bonanza did not herald a new dawn for the troubled European aircraft maker.
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Stocks closed mostly higher, helped by lower bond yields and General Electric, which boosted the Dow. "This market bends a little bit but it doesn't break," Al Goldman, chief market strategist at A.G. Edwards., told CNBC.com. "The buyers are a little bit tired but the sellers are not very aggressive."
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GE Energy Financial Services, a unit of General Electric, said Tuesday it bought a $603 million stake in Regency Energy Partners, a natural gas processor and distributor, from HM Capital Partners for $603 million.
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As stocks overcame weak housing data Tuesday morning, market experts shared insights on “Morning Call.” Scott Fullman, director of investment strategy at Israel A. Englander, highlighted the market’s “strong resiliency.” ... And Bill Nichols, senior managing director of equity at Bear Sterns, said new highs for “mega-caps” are good for the overall market.
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Daniel Snyder continues his buying streak. Today, his Red Zone Capital Fund announced it's acquiring Dick Clark Productions for $175 million, taking a 40% equity stake in the deal, with Snyder becoming chairman of the production company. The key asset Snyder snapped up here is the Golden Globes, which Dick Clark produces, and has a deal to continue to produce until 2011. The company nets $4 million a year just from NBC's license fees and other revenues from that one night event.
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A potential rival bid to Rupert Murdoch's lofty $5 billion offer to buy Dow Jones & Co. Inc. will have to surmount major hurdles of its own to succeed, even though investors are warming up to it.
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When the XFL blimp crashed into an Oakland waterfront restaurant in Jan. 2001, I had written it off as some foreboding accident. In the end, it might have been the best $2.5 million (the cost of the damage) World Wrestling Entertainment--and perhaps its partner, NBC--spent. But when you look a little bit deeper, it's pretty easy to understand. One, there was somehow a student pilot up there. I've heard of student drivers in cars, but not in planes and blimps. Secondly, it was the WWE for god sakes.
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So, there's this new Trojan TV commercial premiering Monday. It shows a bar filled with hot women and big fat pigs (www.trojanevolve.com). The hot women reject the men, disgusted, until one of the guys goes to the bathroom and buys a condom. He emerges as a hot guy, and the girl at the bar is thrilled to talk to him. .
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Stocks closed slightly lower as investors focused on rising oil prices and fluctuating interest rates. "Prices for crude oil are not really moving up as much as they are being pulled up by gasoline," said Stephen Schork, editor of The Schork Report. "Specifically, there's the persistent fear in the market that there is not going to enough gasoline to get us through the season."
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Day one of the Paris air show at Le Bourget had to belong to Airbus. After such a disappointing few years the European plane maker needed to make a big splash on home turf to prove that its recovery is firmly on track.
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Indonesia's Lion Air is ordering 40 of Boeing's 737-900ER airplanes, making public a deal that was alread in the aircraft maker's order book, Boeing said on Monday. G.E. commercial aviation services, the airplane leasing unit of General Electric has placed a firm order for six 777 freighters worth around $1.42 billion, the companies said on Monday.The first 777 freighter will be delivered in the fourth quarter of 2008, Boeing said at the Paris air show.The engines for the planes, to be built by GE's aviation unit, are worth $240 million.
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Blockbuster will rent high-definition DVDs only in the Blu-ray format in 1,450 stores when it expands its high-def offerings next month, dealing a major blow to the rival HD DVD format.
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General Electric and Pearson may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.
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Shares in Pearson, publisher of the Financial Times, were lower in early trading Monday following weekend reports that the company might bid for Dow Jones.
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The head of Boeing's commercial aircraft unit Sunday backed a call by rival Airbus to work closely on producing more environmentally friendly planes, but said real progress was the responsibility of jet engine makers, rather than plane builders.
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Hollywood's superhero foursome is still fantastic at the box office.
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General Electric said on Sunday it had reached tentative agreements on new four-year labor contracts with the national leaders of its two largest unions.
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Financial Times owner Pearson has approached US conglomerate General Electric about a joint bid for Dow Jones, owner of the Wall Street Journal, the Sunday Times reported, citing unnamed sources close to the talks.