U.S. stocks rose on Tuesday, building on gains after CPI rose in June, with sentiment also stabilized by encouraging earnings reports.» Read More
For the first time in recent memory, financials investors are judging bank earnings by Main Street borrowing versus Wall Street trading.
Bank of America Corp. fell$. 31 or 1.9 percent, to $15.51. Citigroup Inc. rose$. 43 or. 9 percent, to $49.72. Goldman Sachs rose $1.70 or 1.0 percent, to $170.87.
*Time Warner shares up 16.9 percent. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday that Time Warner Inc had rebuffed its offer to buy the company, but people familiar with his thinking say he is determined to bring the U.S. media conglomerate into his empire.
**September 2012: Agrees to pay $2.43 billion to settle claims it hid crucial information from shareholders when it bought investment bank Merrill Lynch& Co at the height of the financial crisis.
European shares extended gains to close higher on Wednesday, as investors reacted to fresh growth data from China.
Bank of America Corp. fell$. 34 or 2.2 percent, to $15.47. Citigroup Inc. rose$. 14 or. 3 percent, to $49.43. Goldman Sachs rose $1.59 or. 9 percent, to $170.76.
NEW YORK, July 16- Even fund managers' best ideas are not working out this year.
Media group 21st Century Fox confirmed that it made an offer to acquire peer Time Warner, but Time Warner rebuffed the offer.
*Murdoch may consider higher offer for Time Warner- sources. NEW YORK, July 16- Rupert Murdoch's 21st Century Fox Inc said on Wednesday it had offered to buy Time Warner Inc, a move that would unite two of the world's most powerful media conglomerates, but Time Warner rebuffed its offer.
Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.
*Murdoch determined to pursue Time Warner- NYT. July 16- Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner Inc but was rebuffed. Time Warner's stock jumped 22.5 percent to $87 premarket as the New York Times reported that Murdoch was determined to buy Time Warner and was unlikely to walk away despite the rejection.
U.S. stock index futures pointed to a higher open on Wall Street ahead of Fed Chair Janet Yellen's second day of testimony.
Twenty-First Century Fox made an $80 billion takeover bid in recent weeks for Time Warner but was rebuffed, sources said. The New York Times reports.
Asian stocks were mixed in choppy trade on Wednesday despite better-than-expected growth data from China.
For the first time in recent memory, Main Street borrowing and spending has been a bigger driver of earnings than Wall Street's trading.
NEW YORK, July 16- KKR& Co LP's co-founders Henry Kravis and George Roberts have indicated they intend to stay at the buyout firm for at least five more years, but two men- Scott Nuttall and Joseph Bae- are emerging as front-runners to eventually succeed them.
*Intel stock up more than 4 pct after beating estimates. SYDNEY, July 16- Asian stocks held stubbornly steady on Wednesday after China reported economic growth that was just ahead of market expectations, drawing a sigh of relief from investors rather than outright applause.
*Intel stock up more than 4 pct after beating estimates. SYDNEY, July 16- Asian stocks held stubbornly steady on Wednesday after China reported economic growth that was just ahead of market expectations, enough to prompt a sigh of relief from investors, but little else.
SYDNEY, July 16- Asian stocks held steady on Wednesday as markets braced for a data deluge from China, while a slide in oil prices to the lowest in over three months was taken as a potential positive for global growth. MSCI's broadest index of Asia-Pacific shares outside Japan was flat while Japan's Nikkei barely budged.
Stocks may respond more to earnings news than the Fed Wednesday, now that Fed Chair Janet Yellen's first day of testimony is out of the way.