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News Highlights: Top Equities Stories Of The Day

Date : 04/24/2012 @ 8:15AM
Source : Dow Jones News

News Highlights: Top Equities Stories Of The Day

 
TOP STORIES 
 
US STOCK FUTURES HIGHER AHEAD OF DATA 

U.S. stock index futures trade higher, as markets looked to rebound from the previous day's losses ahead of data on home prices and sales, and consumer confidence. Earnings from Apple await after the closing bell.

 
WATSON, ACTAVIS MIGHT UNVEIL $6B DEAL WEDNESDAY 
 

Watson Pharmaceuticals might announce a deal to buy Actavis for about $6 billion Wednesday, Reuters reports. The deal value is likely to be lower than earlier expected, the report says.

 
UNITED TECH NET SLUMPS ON DISCONTINUED OPERATIONS 
 

United Technologies' 1Q profit slumps to $330 million, or 37c a share, as the industrial conglomerate's results took a hit from the planned shedding of certain businesses to fund its pending acquisition of aircraft components maker Goodrich.

 
NESTLE EYES $1.8B ASSET SALE TO SOOTHE REGULATORS 
 

Nestle may sell up to $1.8 billion worth of assets from the nearly $12 billion it paid for Pfizer's baby food business, Bloomberg News reports.

 
TI SAYS IT'S PAST MARKET BOTTOM, RESUMING GROWTH 
 

Texas Instruments reports a 60% drop in profit for the 1Q, but the big chip maker shows signs of growth that topped its earlier predictions.

 
EURO ZONE BONDS RECOVER ON SOLID DUTCH AUCTION 
 

Euro-zone government bonds firm as investors take solid Dutch and Italian auction results as a cue to buy peripheral euro-zone debt, easing fears that the region's crisis is deepening.

 
J.P. MORGAN NAMES ASIA-PACIFIC CEO 
 

J.P. Morgan Chase & Co.'s head investment banking, Jeff Urwin, will move to Asia and add the role of chief executive for the region, a move that underscores the growing importance of the region for the bank.

 
NOVARTIS 1Q NET PROFIT DOWN 
 

Novartis says net profit declines 16.6% in the 1Q, hit by stagnant revenue, as new products were unable to fully compensate weaker sales of blockbuster Diovan, which is facing competition from cheaper generics.

 
RADIOSHACK SWINGS TO LOSS AS MARGINS WEAKEN 
 

RadioShack swings to a surprise 1Q loss of $8 million, or 8c a share, as the consumer-electronics retailer's margins continues to weaken and as same-store sales fall. Revenue also missed analyst expectations. Shares fall 8% premarket.

 
JAMES MURDOCH TESTIFIES BEFORE INQUIRY BOARD 
 

James Murdoch deflects tough questions about his leadership during a third grilling over illicit reporting tactics at News Corp.'s British newspapers, this time in front of a judge-led inquiry probing the ethics and practices of the U.K. press.

 
GM CEO PREFERS INTERNAL CANDIDATE FOR SUCCESSOR 
 

GM CEO Dan Akerson says he will lead the company until "the board has had enough of me," and that he'd prefer his successor to come from within the company, marking a more open-ended time frame on his potential tenure.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 HEARD ON THE STREET 
 Facebook To Shake Off Winter Blues 

Excitement over Facebook's IPO is already so high that a slower quarter is unlikely to stop the momentum, Rolfe Winkler writes. Investors are likely to focus on strong user numbers.

 
 US STOCKS VIEW 
 Waiting For Wal-Mart's Other Shoe To Drop 

After reviewing a major academic study into the impact of anti-bribery enforcement actions, Mark Hulbert says the report of alleged bribery by Wal-Mart's Mexican subsidiary is likely to be only the beginning of the bad news for the company.

  ============ U.S. MARKETS ACTION =========== 
DJIA              12,927.17 from Monday 
NASDAQ             2,970.45 from Monday 
S&P 500            1,366.94 from Monday 
10-year T-note    100 16/32 at 1.9336% yield 
NYMEX Crude       up $0.24 at $103.35/bbl 
Dollar/Euro       up 0.0008 at 1.3167 
 
 


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