TOP STORIES
US STOCKS FINISH STRONG
Stocks rise, pushing the Standard & Poor's 500-stock index
above 1400 for the first time in almost four years, after another
round of solid domestic economic reports. DJIA extends winning
streak, adding 59 points to end at 13253.
US JOB-MARKET GAINS SHOW SIGNS OF SLOWDOWN
The number of Americans filing new applications for unemployment
benefits drops, but declines in a broader measure of such claims
have slowed, suggesting recent improvements in the job market may
be losing steam.
US DENIES REPORT OF OIL-RESERVES RELEASE
The Obama administration hasn't reached an agreement with the
U.K. to release crude oil from its emergency reserves and a report
suggesting otherwise was inaccurate, White House spokesman Jay
Carney says.
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.
APPLE SHARES TOUCH $600 LEVEL FOR FIRST TIME
Apple shares briefly top $600, the latest milestone in their
meteoric climb, but are now off slightly with traders citing a
short-term ratings downgrade by Deutsche Bank. Expectations for the
smartphone and tablet sales have some analysts seeing a $700 price
soon.
SPRINT SEEN ENDING CONTRACT WITH LIGHTSQUARED
Sprint Nextel will terminate a 15-year contract with billionaire
Phil Falcone's LightSquared and return $65 million in prepayments
to the wireless startup, according to people familiar with the
plans.
PFIZER CEO'S 2011 COMPENSATION VALUED AT $25M
Pfizer Chief Executive Ian Read receives compensation valued at
$25 million for 2011, up 44% from 2010, largely reflecting his
promotion to the drug maker's top executive post in December
2010.
DOLE LOSS NARROWS ON COST-CUTTING EFFORTS
Fruit-and-vegetable producer's 4Q loss narrows sharply to $2
million, or 2c an adjusted share, easily beating Street forecasts
of a 12c loss, as company continued to cut costs. Revenue slips to
$1.54 billion. Shares rise 5% late.
FORTRESS SAID TO BE IN TALKS FOR $1B RESCAP DEAL
Fortress Investment Group is in talks to pay more than $1
billion to buy assets from Ally Financial's mortgage business,
Residential Capital, Bloomberg News reports, citing people with
knowledge of the matter.
EX-AT KEARNEY PARTNER PLEADS GUILTY TO INSIDER TRADE
A former partner at consulting firm A.T. Kearney pleads guilty
to insider trading after being charged with making improper trades
in vitamin maker NBTY before it was acquired by private-equity firm
Carlyle Group, a client.
VITERRA SETS UP PROCESS TO EVALUATE BIDS
Viterra says that it has set up a formal process to consider
possible takeover offers, a week after the Saskatchewan-based grain
handler said it had been approached by third parties.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
HEARD ON THE STREET
More Than Culture Changed On Wall Street
Whether Goldman has changed for the worse is the subject of
debate. What's clear, though, is the role of finance in the economy
was transformed over the past decade--and the economy hasn't
necessarily been better for it, writes Justin Lahart.
HEARD ON THE STREET
A Strategic Oil Leak
Even a hint of a possible release of oil reserves can serve a
wider purpose for governments: It provides a reminder that those
reserves exist. And they are formidable, writes Liam Denning.
============ U.S. MARKETS ACTION ===========
DJIA up 58.66 points to 13252.76
NASDAQ up 15.64 points to 3056.37
S&P 500 up 8.32 points to 1402.60
10-year T-note 97 17/32 at 2.2771 yield
NYMEX Crude down $0.32 at $105.11/bbl at close
Dollar/Euro down 0.0010 at 1.30780