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News Highlights: Top Equities Stories Of The Day

Date : 05/21/2012 @ 10:15AM
Source : Dow Jones News

News Highlights: Top Equities Stories Of The Day

 
TOP STORIES 
 
FACEBOOK SHARES FALL BELOW $38 IPO PRICE 

Facebook shares are under its initial public offering price of $38, on just its second day of trading, a black eye for all those involved with the social networking company going public.

 
EATON TO ACQUIRE COOPER INDUSTRIES IN $11.8B DEAL 
 

Industrial manufacturer Eaton agrees to buy electrical equipment supplier Cooper Industries in a $11.8 billion cash-and-stock deal pricing Cooper at $72 a share. Eaton expects deal to expand its power management portfolio and electrical business.

 
US STOCKS OPEN HIGHER AS BOEING, CATERPILLAR LEAD 
 

U.S. stocks open higher, bouncing from a recent stretch of sharp declines, as broad gains in European markets help soothe some fears about contagion from Greece. Shares of Boeing and Caterpillar are leading gainers.

 
CHICAGO FED'S APRIL NATIONAL ACTIVITY INDEX PICKS UP 
 

The Federal Reserve Bank of Chicago says its national activity index improved to 0.11 in April after March was revised down to -0.44, meaning U.S. economic activity is moving back to historical trend levels.

 
LOWE'S NET UP 14% ON WARM WEATHER, CALENDAR SHIFT 
 

Home-improvement retailer's fiscal 1Q earnings rise to $527 million, or 43c a share, as a calendar shift and warm weather boost results. But same-store sales come in low and company lowers full-year outlook. Shares fall 7%.

 
BARCLAYS TO SELL STAKE IN BLACKROCK 
 

Barclays says it intends to sell its $6.1 billion stake in BlackRock, as the U.K. lender seeks to redeploy cash to boost its profitability and offset the effects of impending regulation.

 
YAHOO TO SELL HALF OF ALIBABA STAKE FOR $7.1B 
 

Yahoo strikes a deal to sell up to half of its stake in Alibaba Group Holding back to the Chinese company for $7.1 billion. Yahoo will get $6.3 billion in cash and around $800 million in Alibaba preferred stock.

 
DAVITA, HEALTHCARE PARTNERS TO MERGE IN $4.42B DEAL 
 

DaVita, a leading provider of kidney care services, enters into a definitive agreement to merge with HealthCare Partners, the largest operator of medical groups and physician networks in the U.S. in a deal worth $4.42 billion.

 
FIVE US CABLE COMPANIES IN WIFI-SHARING EFFORT 
 

Comcast, Time Warner Cable, Cablevision, Bright House Networks and Cox Communications will join forces to give customers access to each other's wireless Internet hotspots in the most sweeping WiFi roaming agreement to date.

 
EU SAYS GOOGLE TO OFFER REMEDIES IN ANTITRUST CASE 
 

The European Commission says it will offer internet giant Google the chance to offer remedies against anti-trust complaints brought by more than a dozen companies, including Microsoft.

 
CHINA'S WANDA TO ACQUIRE AMC ENTERTAINMENT 
 

A Chinese conglomerate agrees to acquire U.S. movie theater chain AMC Entertainment Holdings in a deal that they say is worth around $2.6 billion, in one of the biggest moves yet by a Chinese company to break into the U.S. industry.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
AL'S EMPORIUM 
Facebook Dashes Faith 

Al Lewis saw Facebook's IPO as an escape from global misery. A chance to pretend things weren't so bad. An opportunity to ask "what if?" Only to have his hopes dashed.

THE WALL STREET JOURNAL 
Nasdaq's Facebook Problem 

The Nasdaq Stock Market acknowledges technology problems affected trading in millions of Facebook shares. Friday's technical problems left investors large and small with orders processed improperly, if at all.

  ============ U.S. MARKETS ACTION =========== 
DJIA              up 39.05 points to 12407.75 
NASDAQ            up  5.11 points to 2783.90 
S&P 500           up  4.64 points to 1299.82 
10-year T-note    100 2/32 at 1.7389 yield 
NYMEX Crude       up $0.35 at $91.83/bbl 
Dollar/Euro       down 0.0027 at 1.2740 
 
 


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