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U.S. stocks dip after China, Boeing data
U.S. stocks dipped on Monday, weighed down by soft data out of China and Boeing's latest production setback. Merger and acquisition announcements, however, as well as company-specific news including on Facebook and Alexion Pharma, helped keep the S&P 500 and Nasdaq from bigger losses. China's exports unexpectedly tumbled 18.1 percent in February, against expectations for a 6.8 percent rise, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy. There's a little bit of profit-taking," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.
White House has optimistic growth forecast for 2014, 2015
The White House on Monday forecast more robust economic growth in 2014 than last year and a further pickup in the economy for 2015. Under a White House projection, the U.S. economy is expected to expand by 3.1 percent this year, faster than last year's 1.7 percent. Growth would pick up to 3.4 percent in 2015, the White House said. The jobless rate, which reached a high of 10 percent in 2009, fell to a five-year low of 6.6 percent in January.
Exclusive: Chobani seeks to sell stake at $2.5 billion...
Chobani, the Greek yogurt maker that has grown into a U.S. sensation, is looking to sell a minority stake in a deal that could value the company at around $2.5 billion, people familiar with the matter said. The company is working with Bank of America Corp (BAC.N) as it considers selling roughly 20 percent, and is speaking to consumer companies and private equity firms to gauge their interest, the people said on Monday. Chobani, based in New Berlin, New York, previously held discussions with banks about pursuing an initial public offering, but switched gears in the face of mounting competition from other Greek yogurt companies, the people said. Representatives for Chobani did not immediately respond to requests for comment, while Bank of America declined to comment.
Bull market celebrates its 5th birthday, but is the party...
Yahoo Finance's Lauren Lyster and Phil Pearlman celebrate the fifth birthday of the current stock market rally with some questions about its longevity.
How Ackman supports his bet against Herbalife
Activist investor Bill Ackman has bet $1 billion on Herbalife's (HLF) collapse, calling it a Ponzi scheme. But a New York Times piece now reveals the greath lengths he's gone to to leverage power in Washington and other seats of political influence to advance this narrative and take down Herbalife. Ackman's bet will pay off for his hedge fund only if the stock falls.
A little bit louder now — tech IPOs are heating up
Setting aside all the crazy caterwauling about the alleged new tech bubble, the tech IPO market is starting to get a lot more interesting all of a sudden.
As wireless companies fight for business, prices ...go up?
Competition between two or more companies in the same industry is supposed to keep prices lower. When two brands are battling for your business they’ll do almost anything to get you onto their team. So why then are American cell phone bills going up and not down?
No jobs bonanza from banana merger
Chiquita and Fyffes merge and will be “domiciled” in Ireland.
Shares of Boeing fall amid wing-crack Issue, Malaysia...
On Monday, shares of Boeing (NYSE: BA ) have traded as low as $124.76, down 3.0298 percent amidst the 787 wing crack issue and lack of contact with Malaysia 777-200. Boeing announced that 43 of its 787 ...
Get ready for a bigger push to raise the minimum wage
New York Times labor and workplace reporter Steven Greenhouse discusses why raising the minimum wage will become a big issue during the 2014 mid-term elections.
Today's Trending Ticker: Herbalife keeps on rising
Bill Ackman is raising eyebrows again and Herbalife is at the center of all the drama, making it today's Trending Ticker.
Snowden: The NSA is 'setting fire to the future of the...
The National Security Agency contractor-turned-leaker told attendees at the South By Southwest Interactive Festival in Austin, Texas, on Monday that they are "firefighters" against mass surveillance.
EBay rejects Icahn board nominees, asks investors to do same
Icahn, who owns just over 2 percent of the e-commerce company, has been pressuring eBay for weeks to spin off its PayPal payments business. He has also repeatedly accused eBay of poor corporate governance. The billionaire nominated Icahn Enterprises LP (IEP.O) employees Daniel Ninivaggi and Jonathan Christodoro, both of whom Icahn regularly nominates to boards. The chairman of eBay's corporate governance and nominating committee, Richard Schlosberg III, said the board considered both but rejected them because "neither nominee has relevant experience or expertise."
Pizza chain Sbarro files for bankruptcy protection
Pizza chain Sbarro LLC has filed for bankruptcy protection for the second time in three years after struggling with too much debt and fewer customers in malls that house many of its restaurants. Lenders would take control of the Melville, New York-based company under a "pre-packaged" Chapter 11 reorganization, which Sbarro on Monday said could allow it to made a "quick exit" from bankruptcy before May 7. Sbarro expects to cut its debt load by more than 80 percent, and said nearly all its lenders support its restructuring, which requires court approval. Founded in 1956, Sbarro had tried to boost sales by revamping its recipes to entice diners who increasingly favor "fast casual" chains such as Chipotle and Panera Bread.
China bank lending halves in February from January
China's bank lending halved in February from January, the government said Monday, amid worries over a near-default on a financial product structured by the risky trust sector. Domestic banks extended 644.5 billion yuan ($105.0 billion) in new loans last month, up 24.5 billion yuan from the same month last year, the central bank said in a statement. The February lending figure fell short of a median forecast of 740 billion yuan, according to a poll of economists by Dow Jones Newswires. New loans had reached a huge 1.3 trillion yuan in January, previous People's Bank of China figures showed, with analysts attributing the spike to banks front-loading lending at the beginning of the year.
Gold drops as U.S. growth optimism weighs, China sells
Gold extended losses to a second session on Monday after strong U.S. jobs data eased worries of an economic slowdown and dimmed the metal's safe-haven appeal. Fears among Chinese investors over a slowdown in the world's second biggest economy also hurt prices, with investors in Shanghai futures and spot contracts dumping bullion. "Gold is being pushed lower on the nonfarm numbers and higher 10-year U.S. Treasury yields," said one precious metals trader in Hong Kong. "There is some pressure from China as well because of the weak exports data."
World stocks, copper and oil fall after weak China exports
World stocks paused near a six-year peak and commodities from copper to crude tumbled on Monday as surprisingly weak Chinese trade data rattled investors already on edge over the crisis in Ukraine.
Now Comes Hard Part for G.M.: The Repairs
General Motors’ recall of 1.6 million cars is a time-consuming process with many steps, including designing and testing the new parts, finding and informing owners, then fixing the vehicles.
Wall Street starts week lower after hitting record highs
Sunday marked the five-year anniversary of the S&P's 12-year low of 676.53, when the U.S. economy suffered its worst recession in seven decades.
Ackman vs. Herbalife, a history
A look at some of the crucial events in William A. Ackman’s fight over the nutritional supplements company Herbalife.
What is the barbell trade and why you should give it a try
In the five years since it hit a demonic low 666 the S&P 500 has nearly tripled. After that historic run Well Capital Management’s Jim Paulson says investors should position themselves to win in a choppy stock market but growing economy and he's got just the way to do it.
Icahn on eBay: CEO Incompetence Cost Stockholders Over $4...
“WE BELIEVE BASED ON EVIDENCE WE HAVE NEWLY UNCOVERED THAT DONAHOE’S INEXCUSABLE INCOMPETENCE COST EBAY STOCKHOLDERS OVER $4 BILLION. READ OUR LATEST LETTER AND YOU BE THE JUDGE.”
New-Home Building Is Shifting to Apartments
The share of new homes being built as rental apartments is at the highest level in at least four decades, as an improving jobs picture spurs younger Americans to form their own households but tighter lending ...
Until this happens, keep buying
Half of the $10 trillion gains in household net worth last year were because of stocks. Is there more to come?
Chiquita buys Fyffes to create world's biggest banana...
U.S. fruit distributor Chiquita Brands International Inc (NYS:CQB) is to buy Irish rival Fyffes Plc (ISE:FQ3) in an all-stock deal valued at $526 million to create the world's biggest banana supplier. Chiquita shareholders will own about 50.7 percent of the combined company, ChiquitaFyffes, while Fyffes shareholders will have the remaining 49.3 percent, the companies said in a statement on Monday. Chiquita shareholders will get one share of the new company for each share held. The deal could raise antitrust issues, given that more than 80 percent of the global banana market is controlled by four multinationals - Chiquita, Fyffes, Fresh Del Monte (FDP.N) and Hawaii-founded Dole Food Company - according to the United Nations.
McDonald's U.S. sales continue to struggle in February
McDonald's Chief Financial Officer Pete Bensen said in a press release that the unchanged global comparable sales so far this year "will pressure margins" in the first quarter. McDonald's has reported nearly two years of turbulent sales at established U.S. restaurants amid sluggish economic growth, increased competition and internal missteps that have complicated its menus and slowed service. Thompson said in a statement that McDonald's is "intent on improving our business performance." McDonald's said it is trying to draw more customers by improving customer service and menu changes. McDonald's is doubling down on breakfast and coffee to defend its No. 1 position in the United States as Starbucks Corp (SBUX) debuts new breakfast sandwiches and Yum Brands' (YUM) Taco Bell chain gets into the game with food like waffle tacos.
Weak trial witnesses hinder a more aggressive SEC
In four of the five trials that the securities regulator recently lost, the jury or judge were not convinced by the witnesses brought in by SEC litigators, according to court transcripts, rulings and interviews with defense lawyers. While there were also other factors influencing the verdicts, some legal experts said the issues with witness credibility were significant and reflect the need for SEC litigators to better vet and prepare their witnesses - or drop cases where they aren't strong enough. One trial the SEC lost in December involved the chief financial officer of website management company NIC Inc (EGOV), who was accused of helping to hide $1.18 million in alleged personal expenses incurred by the CEO at the time. The SEC summoned accountant Steven Henning as an expert witness and he testified that he had gone through NIC's records and found almost no receipts for more than 5,000 expenses logged by the CEO, ranging from flights to jewelry purchases to $5,250 worth of gift certificates from Kansas City Steak Company.
This could give the markets a huge boost
The euro is hitting two-year highs against the US dollar. What does that mean for the dollar and what can we expect ahead?
Gap falling out of fashion as Abercrombie picks up the pace
There’s something very wrong at the Gap and it has nothing to do with the weather. After a remarkable five year run the San Francisco retailer is running out of steam just as the competition starts to get its act together.
'Bond King' tarnishes his crown: How Gross is undermining...
"Pimco is being undermined by Bill Gross himself, by being all chitty-chatty," says Breakout host Jeff Macke.
The market is up 170% since 2009, but are you?
Why you might still be poor on the five-year anniversary of the bull market.
Ukraine standoff intensifies, Russia says sanctions will...
Russia said on Friday any U.S. sanctions imposed against Moscow over the crisis in Ukraine would boomerang back on the United States, raising the financial stakes as the military standoff intensified.