TOP STORIES
U.S. STOCKS END SHARPLY LOWER AS GDP GROWTH SLOWS
U.S. stocks fell, with the Dow Jones Industrial Average and the
S&P 500 posting their biggest monthly losses in a year. The
DJIA fell 252 points to 17165.
U.S. OIL PRICES SURGE 8%
U.S. oil prices surged more than 8% as traders jettisoned
bearish bets against the market after data showed a steep drop in
the number of rigs drilling for oil in the country--a sign the wave
of crude may be starting to ebb.
U.S. GDP GROWTH SLOWS TO 2.6%
Gross domestic product expanded at a 2.6% annual rate in the
fourth quarter. The economy grew 5% in the third quarter and 4.6%
in the second quarter after contracting in the first three months
of the year.
CHEVRON HELPED BY REFINING, ASSET SALES
Chevron posted its lowest quarterly profit in five years and
said it would trim its ambitious spending plans as the collapse in
oil prices erased billions of dollars in cash flow.
DISH SURPRISE WINNER IN WIRELESS SPECTRUM AUCTION
AT&T topped all bidders in the government's record setting
auction of wireless licenses. But Dish Network that may have pulled
off the biggest coup.
IBM CEO ROMETTY TO GET $3.6 MILLION BONUS
IBM said Chief Executive Virginia Rometty will receive a $3.6
million bonus for her performance in 2014, despite annual declines
in profit and revenue at the computing giant.
SHAKE SHACK SURGES IN MARKET DEBUT
Shares of Shake Shack, a restaurant chain known for its burgers
and crinkle-cut fries, more than doubled in their market debut,
indicating the appetite that investors have in so-called
fast-casual restaurants.
BANK OF RUSSIA CUTS INTEREST RATES
Russia's central bank surprised financial markets with a
two-point cut in its key interest rate, sending the ruble lower
even as the bank said the currency was showing signs of
stabilization.
FED OFFICIALS: WHY WEAK INFLATION UNLIKELY TO DETER RATE HIKES
Two central bankers explained why they both foresee a likely
rise in rates despite an inflation environment that seemingly
argues against such a move.
ALIBABA CLAIMS 'VINDICATION' AFTER SAIC'S STATEMENT ON COOPERATION
Alibaba claimed vindication in a dispute with a Chinese
government agency over alleged sales of fakes and other misdeeds on
its sales platforms, after agency officials said the two sides
would work together to stamp out counterfeit goods.
MONSANTO HOLDERS OK NONBINDING PROXY-ACCESS PROPOSAL
Monsanto shareholders rejected a stockholder proposal urging the
separation of the chairman and the chief-executive roles, but
approved a nonbinding proposal requesting "proxy access"
adoption.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Politics
ROMNEY WON'T RUN FOR PRESIDENT IN 2016
Mitt Romney, the 2012 Republican presidential nominee, will not
pursue another campaign for the White House. The former
Massachusetts governor announced his decision on a conference
call.
Earnings Preview
OIL CRASH WILL TEST EXXON'S METTLE
With less cash flow from lower oil prices, Exxon Mobil could
defer spending on projects that look less lucrative, as peers
Chevron and Royal Dutch Shell have done.