TOP STORIES
U.S. STOCKS WAVER; APPLE RALLIES
U.S. stock indexes swung between modest gains and losses as
energy stocks declined and technology shares staged a rebound.
Investors are awaiting an afternoon statement from the Federal
Reserve's policy-setting committee.
BOEING POSTS STRONGER-THAN-EXPECTED RESULTS
Boeing reported a 4Q profit of $1.47 billion, or $2.02 a share,
as revenue improved to $24.47 billion. Still, the company gave a
disappointing earnings outlook for 2015.
S&P, DOJ, STATES CLOSE TO $1.37 BILLION SETTLEMENT
S&P could strike a deal as early as Thursday to pay more
than $1.37 billion to resolve crisis-era lawsuits with the Justice
Department and more than a dozen states, according to people
familiar with the situation.
FIAT CHRYSLER NET PROFIT FALLS
Fiat Chrysler Automobiles said that 4Q net profit plunged 68% as
a tax gain from 2013 wasn't repeated. Fiat Chrysler also said it
wouldn't pay a dividend on 2014 profit to preserve funds for its
five-year plan.
GENERAL DYNAMICS REVENUE, PROFIT GROW
General Dynamics' 4Q revenue and profit grew as its backlog also
surged from a year ago. It earned $701 million, or $2.09 a share,
up from $495 million a year ago. EPS from continuing operations
came to $2.19. Analysts expected $2.13 EPS.
INTERNATIONAL PAPER SALES RISE ON NORTH AMERICA STRENGTH
International Paper said 4Q sales rose 1.6% to $5.94 billion as
strength in the packaging company's North American box division
helped offset weakness elsewhere. Earnings fell to $134 million, or
32 cents a share.
OIL PRICES PARE LOSSES ON GROWING SUPPLY GLUT
Crude-oil futures slightly pared their losses after U.S.
stockpile additions fell short of industry estimates. March Nymex
crude pared losses by about 60 cents, recently trading lower by 90
cents, or 2%, on the day, to $45.33 a barrel.
EU APPROVES THREE-PART DEAL BETWEEN NOVARTIS, GSK
Drug giants Novartis and GlaxoSmithKline won European Union
regulatory approval for a complicated series of deals worth more
than $20 billion that will focus Novartis' scope and turn Glaxo
into a vaccines-and-consumer-drug powerhouse.
U.S. MORTGAGE APPLICATION VOLUME FALLS
The average number of mortgage applications for the week ended
Friday fell 3.2% from the previous week, according a survey by the
Mortgage Bankers Association.
U.S. DECEMBER BUILDING PERMITS REVISED HIGHER
U.S. building permits for December were revised to up 0.5% from
November to a seasonally adjusted rate of 1.058 million, the
Commerce Department reported. Permits were originally reported as
being down 1.9%.
FXCM TO FORGIVE SOME CLIENT LOSSES
FXCM said it would forgive about 90% of its clients who incurred
negative balances earlier this month after an unexpected surge in
the Swiss franc left them with steep losses.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Earnings Preview
FACEBOOK FACES CONCERNS ON SPENDING
CEO Mark Zuckerberg spooked investors in October with talk of
"investing aggressively" by acquiring companies, developing new
technology and hiring thousands of employees.
The Wall Street Journal
HARD CHOICES ON EASY MONEY FOR FED
In the weeks ahead, Federal Reserve chairwoman Janet Yellen will
face the challenge of forging consensus on whether to formally open
the door to rates increases in June.