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News Highlights: Top Equities Stories Of The Day

Date : 05/04/2012 @ 6:15PM
Source : Dow Jones News

News Highlights: Top Equities Stories Of The Day

 
TOP STORIES 
 
US STOCKS SINK AFTER JOBS DATA 

Stocks finish broadly lower, with the Nasdaq Composite seeing its steepest weekly loss this year, after a softer-than-forecast payrolls report raises concerns about the pace of U.S. economic growth. DJIA ends down 168 points at 13038.

 
US PAYROLLS RISE 115,000; JOBLESS RATE 8.1% 
 

U.S. job growth slows again in April, a fresh sign the economy could be settling into a sluggish spring. Non-farm payrolls rise just 115,000, falling short of the 168,000 rise economists were expecting, while the jobless rate dips a notch to 8.1%.

 
US TREASURY ANNOUNCES 3RD AIG STOCK OFFERING 
 

The U.S. Treasury Department says it would launch its third public offering of shares in American International Group, the insurer that was bailed out with U.S. government support during the financial crisis.

 
FED'S WILLIAMS SAYS STIMULUS REMAINS 'CRUCIAL' 
 

The U.S. economy remains fragile, which will require the Federal Reserve to maintain a stimulative monetary policy in the coming years, San Francisco Fed President John Williams says.

 
NO VERDICT IN ORACLE, GOOGLE TRIAL 
 

The jury deliberating over Oracle's claims that Google infringed its copyrights failed to reach a verdict before the weekend, and is expected to reconvene Monday.

 
YAHOO FACES PRESSURE OVER CEO 
 

Hedge fund Third Point continues its attack against Yahoo's management, calling for the immediate termination of CEO Scott Thompson amid admitted inaccuracies in his academic credentials. Yahoo shares down 1%.

 
FCC DISMISSES LIBERTY MEDIA BID TO CONTROL SIRIUS 
 

Federal Communications Commission dismisses Liberty Media's application for approval to take de facto control of Sirius XM Radio, dealing a setback to Liberty and its chairman, media mogul John Malone.

 
US OIL FUTURES SETTLE AT 3-MONTH LOW 
 

Oil futures tumble to a three-month low, blowing through $100 a barrel and continuing on lower, in a rout spurred by weaker-than-expected U.S. employment data. Nymex July crude settles down 4% at $98.49 a barrel.

 
APPEALS COURT OVERTURNS $2B JUDGMENT AGAINST FORD 
 

An Ohio appeals court overturns a $2 billion award to Ford dealers who said they were overcharged for heavy trucks for a decade. Ford said the Ohio Court of Appeals rejected a jury award in a class action lawsuit.

 
WESTLAKE PULLS ACQUISITION OFFER FOR GEORGIA GULF 
 

Westlake Chemical says it has withdrawn its roughly $1.2 billion offer to buy Georgia Gulf and says it has no plans to pursue a future transaction for the rival chemical company.

 
BERKSHIRE HATHAWAY PROFIT MORE THAN DOUBLES 
 

Warren Buffett's Berkshire Hathaway posts a sharply higher 1Q profit of $3.25 billion, or $1,966 a Class A share, as natural disasters abate. Operating earnings rose to $1,615 a Class A share but missed Wall Street estimates of $1,780.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 BIG PICTURE 
 US Payrolls Miss The Mark Yet Again 

Monthly payrolls disappoint, this time increasing a mere 115,000 jobs in April, and even the slight downtick in the jobless rate is a sign of softness, writes Kathleen Madigan. But it's still too early to declare the recovery dead.

 TECHNICALLY SPEAKING 
 Charts Do A Number On The S&P 500 

The benchmark S&P 500 index is banking on a single technical number, support that it is close enough to touch, writes Stephen Cox. A bounce from 1369.49 will point the index to a revisit of the high for the three-year uptrend.

 
  ============ U.S. MARKETS ACTION =========== 
DJIA             down 168.32 points to 13038.27 
NASDAQ           down 67.96 points to 2956.34 
S&P 500          down 22.47 points to 1369.10 
10-year T-note   101 02/32 at 1.8798 yield 
NYMEX Crude      down $4.05 at $98.49/bbl at close 
Dollar/Euro      down 0.0695 at 1.30830 
 


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