Dow Jones News Highlights: Top Stories Of The Day

TOP STORIES BERKSHIRE TO BUY BURLINGTON NORTHERN IN BET ON US RECOVERY Warren Buffett will buy the 77% of railroad he doesn't already own in a cash and stock deal that values the company at about $34 billion, or $100 a share, a 31% premium to Monday's close. Berkshire plans 50-for-1 split of its Class B stock, to accommodate holders of smaller amounts of Burlington shares. US FACTORY ORDERS RISE MORE THAN EXPECTED U.S. factory goods orders rise 0.9% in September, more than Wall Street had expected. Non-defense capital goods orders excluding aircraft rise 1.8% during September. The orders are seen as a barometer of capital spending. J&J TO CUT UP TO 7% OF WORK FORCE IN RESTRUCTURING Health-products giant says up to 7% of the company's nearly 120,000-person work force will be eliminated under plan to generate up to $1.7 billion in pretax cost savings and other means when planned moves are fully implemented in 2011. VIACOM UP AS FILMED SEGMENT POSTS PROFIT Viacom 3Q net climbs 15% to $463 million, or 76 cents a share, as the company's filmed-entertainment segment swings to the black and it benefits from cost-saving efforts. Shares rise 2%. US STOCKS PARE LOSSES AFTER FACTORY DATA U.S. stocks remain weak but have come off their earlier lows after a report shows US factory orders rose a little more than expected in September, as non-defense capital goods orders excluding aircraft, a barometer of capital spending, rise 1.8%. GM USED $2.8B OF US FUNDS TO AID DELPHI Auto maker used $1.7 billion to buy part of the post-bankrupt Delphi while another $1.1 billion will be used to buy Delphi's global steering business and four parts facilities. GM also says $13.6 billion remains in escrow out of the $50 billion it got from the US. AMERISOURCEBERGEN PROFIT JUMPS 13% Drug wholesaler's 3Q profit rises to $130.1 million, or 44 cents a share, on above-market sales of generic drugs and a strong performance from its higher-margin specialty distribution and services operation. Revenue increases 9% to $18.72 billion and shares rise 4%. TENET SWINGS TO LOSS ON DEBT-BUYBACK Hospital operator posts loss of $3 million, or 1c a share, in 3Q amid a charge related to early debt extinguishment and prior-year investment gains. Revenue increases 5.7% to $2.26 billion helped by higher prices. Shares rise 1%. OIL LOWER ON EQUITIES; FOCUS ON US OIL DATA Oil futures are lower Tuesday, led by dollar strength and influenced by expectations that weekly oil inventory data reports will show a rise in U.S. crude stocks. STANLEY WORKS TO BUY BLACK & DECKER FOR $4.5B Both companies' boards approve the stock deal, which will give Black & Decker shareholders 1.275 shares of Stanley for each share. Based on Monday's closing price, that values Black & Decker at $57.57, a 22% premium. Stanley Works shares rise 4%. MARATHON NET DOWN 80% ON LOWER E&P Marathon 3Q profit slumps to $413 million, or 58 cents a share as revenue falls 38% to $14.48 billion as the company posts a significant drop in exploration-and-production and refining earnings. ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= AL'S EMPORIUM Subterranean Wall Street Blues Bluesman Jason Green usually plays on a subway platform, but recently played at the New York Marriott Marquis, jamming for folks in fine suits for the SIFMA annual meeting, Al Lewis writes. But Green says the subway remains one of his most lucrative gigs. MARK TO MARKET GAO Gives Taxpayers 81 Billion Reasons To Cry The GAO says the combined total of $81 billion given to Chrysler Group and General Motors so far in federal bailout cash and loans will not be fully repaid. Jim Murphy says, "Tell me something I don't already know." ============ U.S. MARKETS ACTION =========== DJIA down 34.61 points to 9755.28 NASDAQ down 11.22 points to 2037.98 S&P 500 down 3.07 points to 1039.81 10-year T-note up 16/32 at 3.025 yield dn .084 NYMEX Spot Crude down $0.04 at $78.06/bbl Dollar/Euro down 0.0086 at 1.4687