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News Highlights: Top Equities Stories Of The Day

Date : 05/25/2012 @ 6:15PM
Source : Dow Jones News

News Highlights: Top Equities Stories Of The Day

 
TOP STORIES 
 
ICAHN REPORTS 7.6% STAKE IN CHESAPEAKE ENERGY 

Activist investor Carl Icahn reports a 7.6% stake in Chesapeake Energy and calls for the replacement of at least four of the embattled natural gas company's current board members. Shares up 1.5% after hours.

 
US STOCKS FALL ON EUROPE ANXIETY 
 

Stocks finish lower ahead of the long holiday weekend as reports of weakness in Spain underlined anxiety about the euro zone, outweighing a better-than-expected reading on U.S. consumer confidence. DJIA sheds 75 points.

 
SPAIN TO INJECT EUR19 BLN INTO BANKIA 
 

Spain's government is prepared to give EUR19 billion in financial support requested by troubled lender Bankia, the bank says, in what would be the largest bank bailout in the country's history.

 
US SENTIMENT RISES TO HIGHEST LEVEL SINCE MAY 2007 
 

The Thomson Reuters/University of Michigan consumer sentiment index increases to 79.3 in its final-May reading from 77.8 earlier in the month and 76.4 at the end of April, according to an economist who has seen the report.

 
JP MORGAN CHASE BOARD TO SHAKE UP RISK PANEL 
 

The board of J.P. Morgan Chase & Co. (JPM) is expected to shake up its risk policy committee in the wake of more than $2 billion in trading losses, said people familiar with the matter.

 
UBS, CITIGROUP LOSE $50M ON NASDAQ FACEBOOK GLITCHES 
 

The market-making arms of UBS and Citigroup suffered combined losses of about $50 million on trades made during last Friday's glitch-plagued listing of Facebook on the Nasdaq, people familiar with the matter say.

 
MERCK, SANOFI SUBMIT FIRST-ROUND BIDS FOR AMYLIN 
 

Merck and Sanofi have submitted first-round bids for Amylin Pharmaceuticals worth at least $25 a share, valuing the company at more than $4 billion, Bloomberg News reports.

 
LEHMAN CONFIRMS $1.58B BUYOUT OF ARCHSTONE 
 

Lehman Brothers confirms it will buy the 26.5% stake in Archstone it doesn't already own for $1.58 billion, ending a high-stakes battle over the control of the apartment giant.

 
NBC SEEKS TO BUY MICROSOFT'S MSNBC.COM STAKE 
 

NBC Universal is in talks to buy Microsoft out of their jointly owned MSNBC.com website, completing unwind of software-media partnership long regarded as awkward holdover from dawn of internet.

 
GM SAYS PROXY FAILED TO NOTE RELATED PARTY DEAL 
 

General Motors says it failed to disclose in its proxy a $600,000 contract with an ad agency partly owned by the wife of the auto maker's chief financial officer.

 
RITE AID REVEALS HIGHER PAY FOR KEY EXECUTIVES 
 

Total pay for Rite Aid's top executives jumps sharply higher in fiscal 2012 due to long-term cash incentive units that vested after the company reached adjusted earnings targets for the past three years.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 POINT OF VIEW 
 Move Bankers Off Regional Fed Boards 

If local bankers were simply banned from the regional Reserve Bank boards, any complaints about the appearance created by bankers taking any role in the Federal Reserve system also would disappear, writes Neal Lipschutz.

 BIG PICTURE 
 Economists Try To Forecast Unprecedented 'Grexit' 

While financial markets and economists are focused on how a possible Greek exit would play out, U.S. consumers are barely paying attention, and this could be a case where ignorance is bliss, writes Kathleen Madigan.

 
  ============ U.S. MARKETS ACTION =========== 
DJIA              down 74.92 points to 12454.83 
NASDAQ            down 1.85 points to 2837.53 
S&P 500           down 2.86 points to 1317.82 
10-year T-note    100 01/32 at 1.7432 yield 
NYMEX Crude       up $0.20 at $90.86/bbl at close 
Dollar/Euro       down 0.0131 at 1.25190 
 


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