A second round of international negotiations with Iran are
scheduled to be held next week in Switzerland, with the U.S. and
its European allies saying they pledge to bring Tehran into the
global financial system if Iran begins to constrain its nuclear
program.
Meanwhile, a handful of retailers, apparel companies and the
nation's top two tax preparers are among those planning to report
their latest quarterly earnings results next week.
Verizon Wireless said it plans to begin offering its faster
next-generation wireless service on Sunday as the carrier
officially jumps into the 4G fray. The higher speeds bring a
potential competitive edge in jockeying for the most affluent
customers.
Second Round Of International Talks With Iran Scheduled
A long-anticipated second round of international negotiations
with Iran are scheduled to be held Monday and Tuesday in Geneva, in
what is seen as a make-or-break test of the Obama administration's
efforts to use diplomacy to end Tehran's nuclear work. But Iranian
officials have damped hopes for progress by saying Tehran isn't
ready to halt production of nuclear fuel.
Retailers, Apparel, Tax Preparers To Report Results
A handful of apparel and retail companies--including Talbots
Inc. (TLB), Men's Wearhouse Inc. (MW) and Oxford Industries Inc.
(OXM)--are expected to report their latest quarterly results next
week. Analysts polled by Thomson Reuters projected a mixed
performance from the trio, with top- and bottom-line growth only
expected from Men's Wearhouse, which operates stores for men in the
U.S. and Canada.
Meanwhile, tax-service providers H&R Block Inc. (HRB) and
Jackson Hewitt Tax Service Inc. (JTX) are scheduled to report
results on Tuesday and Friday, respectively. Wall Street analysts
expected H&R to report slightly better results, while Jackson
Hewitt's fiscal second-quarter loss is seen widening.
Other companies expected to report their latest earnings next
week include auto-parts retailer AutoZone Inc. (AZO) on Tuesday and
gun maker Smith & Wesson Holding Corp. (SWHC) on Wednesday.
Verizon To Turn On 4G Mobile-Broadband
Verizon Wireless said it plans to begin offering its faster
next-generation wireless service on Sunday as the carrier
officially jumps into the 4G fray. The carrier--jointly owned by
Verizon Communications Inc. (VZ) and Vodafone Group Plc (VOD,
VOD.LN)--said its new fourth-generation service initially will be
for laptop aircards only, with additional devices, including
smartphones, coming by the middle of next year.
Exchanges Expected To Seek Extension Of Circuit Breakers
U.S. stock exchanges next week are expected to ask regulators to
extend for four additional months a pilot program that limits price
swings in some stocks put in place last summer in the wake of the
market's May 6 "flash crash," according to people familiar with the
matter. Market operators plan to seek an extension until April 11
of so-called circuit breakers for individual stocks and
exchange-traded funds, the people said.
Sources Say Sale Of Yoplait Stake To Start Next Week
A process to sell half of Yoplait, the world's second-largest
yogurt maker, is expected to kick off formally next week as presale
documents are dispatched to interested parties, people familiar
with the matter told Dow Jones Newswires Friday. French private
equity firm PAI Partners, which owns 50% of Yoplait, is keen to
sell the holding.
FDA Panel To Review Proposed Weight-Loss Drug
The Food and Drug Administration on Friday said Contrave, a
proposed weight-loss drug from Orexigen Therapeutics Inc. (OREX),
raised blood pressure in some patients but met one of the agency's
standards for being an effective weight-loss treatment. Contrave,
which is being developed with Takeda Pharmaceutical Co. (TKPYY,
4502.TO), is a combination of two drugs already on the market. The
product will be reviewed by an FDA advisory panel next week.
Talks Between U.S., Asian Allies To Focus On North Korea
The U.S., Japan and South Korea will hold talks next week as the
nations plan a joint strategy on dealing with North Korea after its
deadly artillery bombardment of South Korea. Secretary of State
Hillary Rodham Clinton is scheduled to meet with representatives
from the other two nations to discuss developments in the region.
Meanwhile, South Korea is planning to hold its own military
exercises next week, including drills on flashpoint border islands
in parts of the Yellow Sea that are disputed with the North.
Salesforce.com To Host Annual User Conference In California
Salesforce.com Inc. (CRM), a maker of customer-relationship
management software, will host an expected 25,000 at its annual
user conference, Dreamforce, in San Francisco. Salesforce Chief
Executive Marc Benioff will offer keynote addresses on Tuesday and
Wednesday mornings, while former U.S. President Bill Clinton will
keynote on Wednesday night.
Bernanke To Appear On 60 Minutes On Sunday
Federal Reserve Chairman Ben Bernanke will appear on CBS's "60
Minutes" show this Sunday, the television network said. Bernanke is
expected to discuss the unemployment rate, the deficit and the
Fed's decision to purchase $600 billion in U.S. Treasurys in an
effort to boost a weak economy.
Consumer Sentiment Seen Improving In December
The preliminary University of Michigan Consumer Sentiment Index
is expected to show an increase in December to 72.2 from the final
reading of 71.6 in November, according to a Briefing.com consensus.
The index grew in the prior month due to the performance of the
equity market and better employment numbers. U.S. stocks capped
their best two-day performance since July this week as
better-than-expected retail and home sales encouraged
investors.
Brazil's Vale To Start Trading Shares In Hong Kong
Brazilian mining giant Vale SA (VALE, VALE5.BR) said it will
start trading shares on the Hong Kong stock exchange next week to
boost its visibility in Asian markets. Vale decided to list Hong
Kong depositary receipts to allow investors the option to trade
Vale shares in various time zones.
Conferences
Among the significant conferences next week are the Credit
Suisse Group Holiday Conference Monday through Wednesday in
Orlando, Fla.; UBS Global Media and Communications Conference
Monday through Wednesday in New York; the Canaccord Genuity
Cardio/Diabetes & Obesity Conference on Tuesday and Wednesday
in San Francisco; the Goldman Sachs U.S. Financial Services
Conference on Tuesday and Wednesday in New York; the William Blair
& Co. LLC Global Services Growth Stock Conference on Tuesday
and Wednesday in Scottsdale, Ariz.; the Barclays Capital Global
Technology Conference on Wednesday and Thursday in San Francisco;
and the Macquarie Securities Alternative Energy Conference:
Powering Change on Wednesday and Thursday in New York.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com
(Jeanette Borzo, Jennifer Corbett Dooren, Roger Cheng and Dow
Jones Newswires staff contributed to this report.)
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