TOP STORIES 
 
PUTIN SEEKS TO REASSURE ON ECONOMY 

President Vladimir Putin sought to reassure Russians that the country's economic troubles will pass in no more than two years, saying that the government is responding "appropriately," though a bit belatedly.

 
U.S. STOCKS TRADE SHARPLY HIGHER 
 

U.S. stocks opened sharply higher, buoyed for a second session after the Federal Reserve reaffirmed that it is in no rush to raise interest rates. The Dow Jones Industrial Average climbed more than 200 points.

 
OIL FUTURES CLIMB 
 

Global oil prices rallied as signs were emerging that the market might be looking to find a bottom, albeit a temporary one.

 
U.S. JOBLESS CLAIMS FALL TO 289,000 
 

The number of Americans filing for first-time unemployment benefits dropped last week and stayed near 14-year lows. Initial jobless claims fell by 6,000 to a seasonally adjusted 289,000. Economists expected 295,000 new claims.

 
COUCHE-TARD TO BUY PANTRY FOR $860 MILLION 
 

Alimentation Couche-Tard agreed to buy convenience-store chain Pantry for about $860 million, strengthening its position in the southeastern U.S.

 
KRAFT FOODS GROUP CEO TO RETIRE 
 

Kraft Foods Group said Chief Executive Tony Vernon will retire by the end of the year, naming its board chairman and PepsiCo veteran John Cahill as his successor to the top executive spot.

 
FRANCE FINES CONSUMER PRODUCT COMPANIES 
 

France's antitrust authority said it has fined a group of personal and home-care products companies a total of nearly 1 billion euros for anticompetitive practices between 2003 and 2006.

 
CONAGRA'S PROFIT PLUNGES ON PRIVATE-LABEL WRITE-DOWN 
 

ConAgra posted earnings of $10 million, or 2 cents a share, as it took a large write-down on its struggling private-label segment. The company, however, reaffirmed its earnings outlook for the year.

 
WELLS FARGO FINED FOR ANTI-MONEY- LAUNDERING 'FAILURES' 
 

Finra said it was fining Wells Fargo & Co. $1.5 million for anti-money-laundering failures. Wells Fargo Advisors must pay the joint fine for failing to properly verify identification for nearly 220,000 new customer accounts, the regulator said.

 
MERCK ACQUIRES ONCOETHIX FOR UP TO $375 MILLION 
 

Merck acquired privately held OncoEthix for up to $375 million, its latest push into the oncology market as the pharmaceutical giant continues bolstering its research-and-development pipeline.

 
SANDERSON FARMS PROFIT JUMPS 
 

Sanderson Farms said its 4Q profit more than doubled as it benefited from falling grain prices and higher prices for its poultry products. Results topped expectations. It posted a profit of $93.1 million, or $4.04 a share.

 
 
 
 
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Grand Central 
YELLEN PLAYBOOK PUTS SLACK OVER OIL PRICE DECLINES 
 

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Capital Journal Daybreak 
X FACTORS TO NORMALIZING U.S.-CUBA RELATIONS 
 

Will Obama's efforts to normalize relations with Cuba hit roadblocks in Congress, or garner enough support from business to launch a new era of political and economic cooperation? Sign up here for The Wall Street Journal's morning rundown of the biggest news driving Washington.