TOP STORIES
US JOBLESS CLAIMS DROP BY 14K 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 $4B DEAL
Cisco Systems plans to buy UK video software maker NDS Group for
$4 billion, plus an additional $1 billion in debt, a purchase the
technology giant says reflects its increased strategic focus on
video.
US STOCKS LOWER DESPITE SOLID ECONOMIC DATA
Stocks move lower despite a drop in new applications for U.S.
unemployment benefits for the week and acceleration in New York
state manufacturing activity in March.
MID-ATLANTIC MANUFACTURERS' CONDITIONS IMPROVE
Mid-Atlantic manufacturers see better business conditions in
March, although orders and shipments slow sharply, according to the
Philadelphia Federal Reserve, whose business activity index rises
to 12.5. Economists expected a reading of 10.5.
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.
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.
OIL DRIFTS HIGHER, TRADES IN NARROW RANGE
Oil futures drift higher and continue to trade in a narrow range
as market chatter grows about whether pricey crude is headed for a
correction. Nymex April crude is up 55c to $105.98 a barrel.
IMF SEEN APPROVING €28B GREEK LOAN THURSDAY
The International Monetary Fund board is expected to approve a
€28 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.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
AL'S EMPORIUM
Challenger Thrives In Challenging Economy
Al Lewis profiles John Challenger, head of outplacement firm
Challenger, Gray & Christmas, which is often the first to
arrive at the scene of a mass layoff, aiding the wounded with
everything from counseling to job-interview coaching.
TECH VIEW
The Tech World, Then And Now
Giant industry trade shows are becoming increasingly irrelevant,
expensive and inefficient in the world of social media, where many
just watched CES press conferences webcast on Facebook, writes
Therese Poletti.
============ U.S. MARKETS ACTION ===========
DJIA up 15.78 points to 13209.58
NASDAQ up 9.88 points to 3050.56
S&P 500 up 4.05 points to 1398.37
10-year T-note 97 21/32 at 2.2645 yield
NYMEX Crude up $0.41 at $105.83/bbl
Dollar/Euro up 0.0046 at 1.3074