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Top News & Analysis New York

  • NEW YORK, Feb 22- Jeffrey Ubben, the chief executive of activist investor ValueAct Capital, told Reuters on Wednesday that his firm had been taking money out of the capital markets as valuations have become overextended, leaving it with $3 billion in cash. ValueAct, based in San Francisco, manages around $16 billion. The fund's largest holding is a $2.4 billion...

  • NEW YORK _ Solar Senior Capital Ltd. on Wednesday reported fourth-quarter net income of $6 million, after reporting a loss in the same period a year earlier. The New York- based company said it had profit of 37 cents per share. For the year, the company reported profit of $24.3 million, or $1.88 per share.

  • NEW YORK _ Solar Capital Ltd. on Wednesday reported fourth-quarter net income of $17.8 million, after reporting a loss in the same period a year earlier. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share. Solar Capital shares have climbed 7 percent since the beginning of the year.

  • NEW YORK _ Iconix Brand Group Inc. on Wednesday reported a loss of $297.5 million in its fourth quarter. The New York- based company said it had a loss of $5.30 per share. Iconix expects full-year earnings in the range of 70 cents to 85 cents per share, with revenue in the range of $350 million to $365 million.

  • NEW YORK _ Alleghany Corp. on Wednesday reported fourth-quarter profit of $69.5 million. The New York- based company said it had profit of $4.50 per share. For the year, the company reported profit of $460.7 million, or $29.59 per share.

  • FORT WORTH, United States- Dallas Fed President Robert Kaplan participates in a moderated Q&A session hosted by the Tarrant County Bankers Association- 1800 GMT. LONDON- ECB Board Member Peter Praet to deliver a keynote speech at the "Brexit and the implications for financial services" conference- 0855 GMT. LONDON- ECB Board Member Peter Praet to give...

  • FORT WORTH, United States- Dallas Fed President Robert Kaplan participates in a moderated Q&A session hosted by the Tarrant County Bankers Association- 1800 GMT. LONDON- ECB Board Member Peter Praet to deliver a keynote speech at the "Brexit and the implications for financial services" conference- 0855 GMT. LONDON- ECB Board Member Peter Praet to give...

  • NEW YORK, Feb 22- Jeffrey Ubben, the chief executive of ValueAct Capital, told Reuters on Wednesday that his firm has been disinvesting in the capital markets as valuations have become overextended, leaving it with $3 billion in cash. ValueAct, based in San Francisco, manages around $16 billion. The fund's largest holding is a $2.4 billion stake in Microsoft Corp,...

  • NEW YORK _ Empire State Realty Trust Inc. on Wednesday reported a key measure of profitability in its fourth quarter. The New York- based real estate investment trust said it had funds from operations of $74.2 million, or 25 cents per share, in the period. The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of...

  • PALO ALTO, Calif.— Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to health insurance to high finance, has died. Arrow died Tuesday at his home in Palo Alto, in the San Francisco Bay Area, according to his son, David Arrow.

  • NEW YORK _ Paramount Group Inc. on Wednesday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in New York, said it had funds from operations of $40.6 million, or 18 cents per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 20 cents...

  • Paramount parent Viacom said they are searching for a new CEO. The move comes after media mogul Sumner Redstone's National Amusements in December abandoned a proposal that CBS and Viacom reunite after a 10 year split. Viacom had also been considering selling a stake in Paramount but that was called off too.

  • NEW YORK, Feb 22- Oil prices fell more than 1 percent on Wednesday on expectations of another surge in U.S. inventories, retreating from multi-week highs hit in the previous session after OPEC signaled optimism over its deal with other producers to curb output. In post-settlement trade, prices pared losses sharply after data from industry group the American...

  • NEW YORK _ Outfront Media Inc. on Wednesday reported a key measure of profitability in its fourth quarter. The New York- based real estate investment trust said it had funds from operations of $77.6 million, or 56 cents per share, in the period. The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 51 cents per...

  • *Global stocks retreat from record high. NEW YORK, Feb 22- Global stocks pulled back from record highs on Wednesday while the dollar declined after minutes from the U.S. The perceived less hawkish tone of the Fed's record of the Jan. 31- Feb. 1 policy meeting helped lift gold and U.S. bonds from negative territory.

  • Toll Brothers Inc., up $1.94 to $33.93. Garmin Ltd., up $3.70 to $54.15. Bristol-Myers Squibb Co., up 57 cents to $55.35.

  • NEW YORK, Feb 22- The S&P 500 ended modestly weaker on Wednesday, holding losses after minutes from the Federal Reserve's last meeting kept alive a potential near-term interest rate hike, while DuPont shares helped the Dow close at an all-time high for a ninth straight session. The major U.S. indexes are trading around record highs, driven up since President...

  • The incident Monday at New York's Kennedy Airport is being investigated by the Transportation Security Administration, the agency that was created to protect the nation's airports after the 2001 attacks. "Mistakes happen, but they're supposed to be there to protect our lives," said Kylie Welsh, who returned to Boston from a trip to Pittsburgh on Wednesday.

  • NEW YORK, Feb 22- The dollar fell against the euro and yen on Wednesday after Federal Reserve meeting minutes disappointed expectations for a hawkish tone and anti-EU French presidential candidate Marine Le Pen's perceived chances of winning fell. "The message was that there is still some hesitation, some caution versus the impression the markets got from the...

  • NEW YORK/ LONDON, Feb 22- Gold turned higher as the dollar shifted lower on Wednesday, after minutes from the last U.S. 2:56 p.m. EST, while U.S. gold futures settled down 0.5 percent at $1,233.30, prior to the release of the minutes. "Gold rallied after the January Fed minutes suggested that voting members were relaxed about having' ample' time to respond to inflation...