TOP STORIES
US JOBLESS CLAIMS DROP BY 14,000 IN WEEK
Initial jobless claims tumble by 14,000 to a seasonally adjusted
351,000 in the week ending March 10, much higher than the
5,000-claim drop expected economists and the latest sign that the
labor market is improving.
US PRODUCER PRICES RISE 0.4%; CORE PPI UP 0.2%
U.S. wholesale prices increase an adjusted 0.4% in February, a
bit less than expected, but still the fastest growth pace in five
months, driven by rising gasoline costs. Excluding food and energy,
prices rise 0.2%, in line with estimates.
CISCO TO BUY NDS GROUP IN $5B DEAL
Cisco Systems plans to acquire video software maker NDS Group in
a $5 billion deal, a purchase the technology giant says reflects
its increased strategic focus on video. Cisco shares down 1%
premarket.
NY FED MARCH MANUFACTURING INDEX RISES TO 20.21
New York manufacturing activity accelerates in March. The Empire
State's business conditions index increases for the fourth
consecutive month to 20.21 from 19.53 in February. Economists
expected the index to drop to 17.9.
US STOCK FUTURES HIGHER; JOBLESS CLAIMS ON TAP
Stock futures are modestly higher, with investors optimistic
that a rush of economic data, including weekly jobless claims, will
help extend the recent string of gains in blue-chip stocks.
SEC CRACKS DOWN ON PRE-IPO TRADING
The Securities and Exchange Commission brings charges against
two money managers, alleging they misled and overcharged investors
on funds formed to buy shares of Facebook, Twitter and other
social-media companies.
CITI REJECTION STINGS PANDIT
Citigroup's failure to get regulators' approval to return
capital to shareholders caught executives and investors off guard
and dealt a blow to Chief Executive Vikram Pandit's efforts to
revive investor confidence in the bank.
CRUDE OIL RANGEBOUND; SEEN AS OVERBOUGHT
Oil prices trade sideways, holding in a tight range in the
absence of major market-moving news and as fears set in that oil's
bull run is due a correction.
IMF SEEN APPROVING EUR28B GREEK LOAN THURSDAY
The International Monetary Fund board is expected to approve a
EUR28 billion loan for debt-beleaguered Greece despite fears by
some members of political risks to the program, say people familiar
with the matter.
THIRD POINT SAYS YAHOO 'STONEWALLING' ON BOARD
Hedge Fund Third Point has told Yahoo it plans to file a
challenge for board seats at the embattled Internet firm "within
the week" after its board nominees received a chilly reception.
NOBLE ENERGY INKS $18B SUPPLY DEAL
Noble Energy reaches a 15-year deal valued at $18 billion to
supply Israel Electric with natural gas from reserves in a recent
offshore discovery.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
THE WALL STREET JOURNAL
Google Gives Search A Refresh
Over the next few months, Google's search engine will begin
spitting out more than a list of blue Web links. It will also
present a series of facts and direct answers to queries.
THE WALL STREET JOURNAL
Banks Take More Hits On Bad Loans
Bankers are still grappling with rising costs to repurchase
soured home loans they previously sold to the government-backed
mortgage investors Fannie Mae and Freddie Mac, Nick Timiraos
writes.
============ U.S. MARKETS ACTION ===========
DJIA 13194.10 from Wednesday
NASDAQ 3040.73 from Wednesday
S&P 500 1394.28 from Wednesday
10-year T-note 97 6/32 at 2.3184 yield
NYMEX Crude up $0.45 at $105.85/bbl
Dollar/Euro up 0.0019 at 1.3048