TOP STORIES
U.S. STOCKS DECLINE AFTER ROUT IN JAPAN
U.S. stocks slipped Tuesday after the recent turmoil in
financial markets rippled across Asia and an early-session recovery
in beaten-down sectors faded.
COKE RESULTS TOP EXPECTATIONS ON VOLUME, PRICING GROWTH
Coca-Cola reported better-than-expected profit and revenue for
its fourth quarter, as higher volume and pricing helped offset the
impact of weakness abroad.
LLOYD BLANKFEIN: BIG BANKS IN SOUND HEALTH, DESPITE TURMOIL
Goldman Sachs' Lloyd Blankfein defended the financial health of
the biggest banks, arguing that investors haven't accounted for the
steps taken to fortify balance sheets in the years since the
financial crisis.
IEA WARNS OIL PRICES COULD FALL
Crude-oil prices could fall even further as the world's vast
oversupply of petroleum only got worse in January with a surge in
production from OPEC.
CANADIAN PACIFIC PLANS TO ABANDON THREAT OF PROXY FIGHT FOR NORFOLK SOUTHERN
Canadian Pacific Railway Ltd. is abandoning its threat of a
proxy battle to replace directors at takeover target Norfolk
Southern Corp., according to a person familiar with the matter.
CVS PROFIT GROWS, BUT FORECAST SOFT
CVS reported higher profit and sales, as rising sales of
prescription drugs offset a slight drop in sales in the front-end
of its stores, where traffic continues to erode.
FORTIS TO BUY ITC FOR $6.9 BILLION
Canadian utility operator Fortis agreed to buy U.S.
electricity-transmission company ITC Holdings for about $6.9
billion in cash and stock.
DEUTSCHE BANK CEO SEEKS TO REASSURE ON FINANCES
Deutsche Bank co-Chief Executive John Cryan sought to reassure
employees about the bank's finances, saying that while it would
likely raise legal provisions this year, the lender "remains
rock-solid."
NOVARTIS REACHES ENTRESTO PAY-FOR-PERFORMANCE DEALS WITH CIGNA, AETNA
Cigna Corp. and Aetna Inc. have reached agreements for heart
drug Entresto with Swiss drugmaker Novartis AG that tie pricing to
patient outcomes.
VIACOM CEO DEFENDS HIS LEADERSHIP
Viacom Inc. Chief Executive Philippe Dauman fiercely defended
his leadership and the board's recent decision to name him
executive chairman as the company on Tuesday reported a profit
decline in its most-recent quarter.
CFPB PRESSES BANKS, CREDIT UNIONS TO OFFER 'SMALL-DOLLAR LOANS'
The Consumer Financial Protection Bureau, preparing to roll out
rulesaimed at reining in high-interest payday loans, is jawboning
banks and credit unions to provide better alternatives for
borrowers in need of small, short-term loans.
WPX TO SELL ROCKY MOUNTAIN ENERGY BUSINESS FOR $910 MILLION
WPX Energy said it would sell its WPX Energy Rocky Mountain
business, which focuses on the Piceance Basin of Colorado, one of
North America's biggest natural-gas plays, to Terra Energy Partners
for $910 million in cash.
BANK OF ENGLAND EYEING OVERALL CREDIT GROWTH
A top BOE official said that the central bank may take steps to
restrain credit growth in the U.K. if lending begins growing faster
than the economy as a whole.
U.K. FINES EX-J.P. MORGAN EXECUTIVE OVER 'LONDON WHALE' TRADES
A U.K. financial regulator fined a former J.P. Morgan executive
more than $1 million for his role in the so-called London whale
trading debacle of 2012 and his behavior during the subsequent
investigation.
SPIRIT AIRLINES PROFIT UP ON CHEAP FUEL
Discount airline Spirit Airlines Inc. said profit surged 33% in
its fourth quarter on cheaper fuel costs, though its average flight
fares slid amid heavy competition.
AT LEAST NINE KILLED IN GERMAN TRAIN COLLISION
Two trains collided head-on in southern Bavaria, killing nine
people and injuring more than 150, many seriously, German police
said.
GANNETT EXPLORES PARCEL-DELIVERY BUSINESS
Gannett is exploring the parcel-delivery business as it examines
how to make the most of its fleet of paper carriers and delivery
trucks.
SEARS WARNS ON 4TH-QUARTER SALES
Sears Holdings warned that its fourth-quarter revenue would fall
short of expectations, prompting the retailer to accelerate store
closures and make deeper cost cuts.
ALPHA NATURAL LENDERS OFFER $500 MILLION FOR CORE COAL MINES
Existing lenders have offered $500 million for the core assets
of Alpha Natural Resources Inc., a so-called credit bid designed to
get the distressed coal mining operation out of bankruptcy.
SMALL-BUSINESS OWNERS GREW LESS CONFIDENT IN JANUARY
Small-business owners turned less optimistic about their
economic prospects in January as a tumultuous stock market and
intensifying concerns over global growth took a toll on
confidence.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Politics and Policy
OBAMA PROPOSES $4.1 TRILLION FISCAL 2017 BUDGET
President Barack Obama's $4.1 trillion budget proposal is
designed to find a few spots of bipartisan agreement while also
laying out a broader liberal policy agenda for a potential future
Democratic administration.
Briefly Blog
5 THINGS TO WATCH IN JANET YELLEN'S CONGRESSIONAL TESTIMONY
Federal Reserve Chairwoman Janet Yellen heads to Capitol Hill on
Wednesday and Thursday for two days of congressional testimony.
(END) Dow Jones Newswires
February 09, 2016 13:00 ET (18:00 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.