Fri, 25 Apr 2014 01:09:37 -0400

A view shows the Federal Reserve building in WashingtonBanking and regulatory sources with direct knowledge of the situation said the U.S. Federal Reserve and the Office of the Comptroller of the Currency (OCC) appear to be taking different approaches to implementing a set of guidelines on leveraged loans, even though they issued them jointly in March last year. The OCC, a division of the U.S. Treasury Department, is zealously implementing them, while the Fed is more relaxed about it, the sources said. While all major Wall Street banks are regulated by the Fed, the OCC oversees only those with national bank charters, which allow a bank to build a nationwide branch network.


Thu, 24 Apr 2014 23:49:27 -0400
By Rodrigo Campos NEW YORK (Reuters) - Apple has long been a trend-setter whose hot products attract imitators, and now its recent stock split might help revive a trend from the 1990s that has all but disappeared on Wall Street. Apple Inc's move might inspire others, some believe, but only modestly. "It could become a bit of a trend when you see a name like Apple decide to split the stock," said Ken Polcari, director of the NYSE floor division at O’Neil Securities. Polcari said Priceline Group Inc, the most expensive single stock on the S&P 500, is a prime candidate.
Thu, 24 Apr 2014 23:01:57 -0400

Microsoft CEO Satya Nadella gestures as he speaks during his keynote address at the company's "build" conference in San FranciscoBy Bill Rigby SEATTLE (Reuters) - Microsoft Corp's new chief executive on Thursday won rave reviews for his first public encounter with Wall Street analysts who said he communicated willingness to transform the world's largest software company as it scrambles to catch up in the mobile-computing era. Marking the first time in five years that a Microsoft chief executive joined a quarterly earnings conference call, veteran insider Satya Nadella, who took over the helm on Feb. 4, said his first weeks in the new job were taken up with getting to know the company afresh. He said he is also dealing with the reality of the new tech marketplace in which Microsoft has ceded its market dominance to Apple Inc and Google Inc . "What you can expect of Microsoft is courage in the face of reality;


Thu, 24 Apr 2014 21:50:26 -0400
(Reuters) - Private equity firm KKR & Co LP plans to allow investors to sell parts of their stake in buyout funds through a new private market run by Nasdaq OMX Group Inc
Thu, 24 Apr 2014 20:25:20 -0400

Logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in SeoulSEOUL (Reuters) - Shares in Hyundai Motor Co dropped more than 3 percent on Friday after the automaker reported a smaller than expected quarterly profit hit by a strong Korean won. ...


Thu, 24 Apr 2014 19:45:16 -0400

The Microsoft logo is seen at their offices in BucharestBy Bill Rigby SEATTLE (Reuters) - Microsoft Corp's new chief executive got off to a winning start with Wall Street on Thursday as the world's largest software company eased past analysts' profit estimates despite the pressure of falling computer sales. Microsoft shares are up about 8 percent since company veteran Satya Nadella took over as CEO in early February, and are up 19 percent since his predecessor Steve Ballmer announced plans to retire last August, easily outpacing the Standard & Poor's 500. Investors are excited about Nadella's focus on mobile and cloud, or Internet-based, computing, designed to take Microsoft beyond its traditional PC-based Windows business. "This quarter is a nice step in the right direction for Nadella and Microsoft," said Daniel Ives, an analyst at FBR Capital Markets.


Thu, 24 Apr 2014 19:40:12 -0400
Newmont Mining Corp, which sources have said is in talks with Barrick Gold Corp on a merger, reported a steep drop in first-quarter earnings on Thursday as a result of lower gold and copper prices. Newmont, the world's second-biggest gold producer after Barrick, managed to lower its gold production costs and slightly lift its gold output in the quarter, including a 40 percent increase in production at its Tanami mine in Australia.
Thu, 24 Apr 2014 19:18:34 -0400

FILE - In this April 2, 2014 file photo, Microsoft CEO Satya Nadella gestures during the keynote address of the Build Conference in San Francisco. Microsoft reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/Eric Risberg, File)LOS ANGELES (AP) — Results from Microsoft's first quarterly earnings release under new CEO Satya Nadella offered fresh justification for his focus on cloud computing.


Thu, 24 Apr 2014 17:42:04 -0400
By Noel Randewich SAN FRANCISCO (Reuters) - Broadcom Corp beat Wall Street expectations in the first quarter, although profit and revenue were lower than a year earlier as the company's high-end chips for smartphones faced fierce competition in China. Underscoring those concerns, Broadcom's revenue guidance for the June quarter was slightly below some analyst expectations. Broadcom and other smartphone chipmakers must adjust as industry growth shifts away from North America toward China and other developing countries where consumers favour handsets selling for under $200 rather than top-tier devices like Apple's iPhone. Broadcom gets around half its revenues from mobile.
Thu, 24 Apr 2014 17:28:42 -0400

Tripp Mancuso, 4, works with his trader father Peter Mancuso on the floor of the New York Stock Exchange, during the NYSE Working Parents/Caregivers Employee Resource Group's annual Take Your Child to Work Day program, Thursday, April 24, 2014. Mixed earnings from a large number of U.S. companies left the stock market without direction early Thursday, despite positive results from a handful of names including Apple and Caterpillar. (AP Photo/Richard Drew)NEW YORK (AP) — The stock market closed mostly higher Thursday, helped by positive earnings out of several large U.S. companies including Apple and construction equipment maker Caterpillar.


Thu, 24 Apr 2014 17:14:29 -0400
By Svea Herbst-Bayliss BOSTON (Reuters) - Two prominent proxy advisory firms on Thursday split their recommendations on how investors should vote in a battle between auction house Sotheby's and activist investor Daniel Loeb. Institutional Shareholder Services backed two of Loeb's candidates while Glass Lewis & Company recommended that shareholders vote for the company's candidates. The reports will give each side fresh support as they try to sway other shareholders before the May 6 annual meeting. Loeb, whose $14.5 billion (8.6 billion pounds) hedge fund Third Point is Sotheby's biggest investor, has been pushing the auction house to cut costs and become more competitive for months and last year compared the company to "an Old Master painting in desperate need of restoration." ISS recommended that shareholders vote for Loeb, an avid art collector, and Olivier Reza, a former investment banker who runs a private French jewellery company, and said: "It appears that introducing some change into the boardroom is warranted." Glass Lewis wrote that the dissidents have identified areas of concern, but fell short of "making a compelling case that additional changes in the boardroom are warranted at this time beyond those already implemented by the Company." The proxy fight has become one of Wall Street's most-watched battles, pitting one of the industry's best-known activist investors against the 270-year old auction house.
Thu, 24 Apr 2014 16:51:31 -0400
(Reuters) - Synaptics Inc reported better-than-expected third-quarter results as demand from mobile phone makers for its touchscreen chips surged, sending its shares up more than 12 percent in after-hours trading. Synaptics, which has gained market share as more and more mobile devices adopt the touch interface, also forecast current-quarter revenue that handily beat Wall Street estimates. The company, which counts Samsung Electronics Co Ltd among its top customers, also said it expects revenue to grow 37-40 percent in the year ending June 30, helped by strength in its fingerprint ID business. ...
Thu, 24 Apr 2014 16:44:48 -0400

FILE - In this April 2, 2014 file photo, Microsoft CEO Satya Nadella gestures during the keynote address of the Build Conference in San Francisco. Microsoft reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/Eric Risberg, File)REDMOND, Wash. (AP) — Microsoft Corp. posted flat revenue and a decline in net income for the January-March quarter. Revenue gains from its Windows operating system and cloud computing services like Azure were offset by the lack of special upgrade offer revenues from a year ago.


Thu, 24 Apr 2014 16:43:26 -0400

Traders work on the floor of the New York Stock ExchangeBy Chuck Mikolajczak NEW YORK (Reuters) - The Nasdaq rose modestly in a choppy session on Thursday, lifted by a rally in Apple shares a day after the iPad maker's strong results, though tensions in Ukraine held the broader market in check. Shares of Apple Inc , the most valuable U.S. company by market capitalization, jumped 8.2 percent to $567.77, the biggest gain since August, a day after the company posted revenue that far outpaced expectations. Apple also approved another $30 billion stock-buyback plan, raised its dividend and authorized a seven-for-one stock split. The three major U.S. stock indexes had opened sharply higher, with the Nasdaq initially climbing more than 1 percent before turning negative in the first half-hour of trading.


Thu, 24 Apr 2014 16:42:58 -0400
Aetna Inc said on Thursday its first few months under Obamacare turned out better than some investors had feared as it added new members not only on the exchanges but in its traditional large corporate business. Aetna's shares surged nearly 6 percent as the company allayed Wall Street concerns that health costs were higher than what it and competitors had planned for. This year, Aetna introduced health plans in 17 of the new insurance exchanges created by President Barack Obama's healthcare law nationwide, making it the largest player by number of states, ahead of even WellPoint Inc. A rocky start to the exchanges, with technical failures and an advertising counteroffensive by Republican opponents of the Affordable Care Act, had raised fears of weak enrollment skewed toward older and sicker consumers.
Thu, 24 Apr 2014 16:41:00 -0400

Toronto Stock Exchange logo is seen in TorontoBy Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose slightly on Thursday, helped by a gain in shares of Potash Corp after the company's results beat low expectations and by small increases in heavyweight banking stocks. The upward thrust was offset by declines in major gold miners and an 11.5 percent plunge in Colombia-focused oil company Pacific Rubiales Energy Corp . With the domestic stock market hitting highs last reached in mid-2008, stock pickers are taking a more nuanced view in building positions, resulting in long-maligned sectors such as energy producing winners and losers in almost equal measure. You're not seeing buying across the board," said Elvis Picardo, a strategist at Global Securities in Vancouver.


Thu, 24 Apr 2014 16:18:56 -0400

FILE - In this April 2, 2014 file photo, Microsoft CEO Satya Nadella gestures during the keynote address of the Build Conference in San Francisco. Microsoft reports quarterly earnings on Thursday, April 24, 2014. (AP Photo/Eric Risberg, File)REDMOND, Wash. (AP) — Microsoft Corp. posted flat revenue and a decline in net income for the fiscal third quarter. The results still beat analyst expectations.


Thu, 24 Apr 2014 16:12:28 -0400

Randy Beller, right, works with fellow traders on the floor of the New York Stock Exchange Thursday, April 24, 2014. Mixed earnings from a large number of U.S. companies left the stock market without direction early Thursday, despite positive results from a handful of names including Apple and Caterpillar. (AP Photo/Richard Drew)NEW YORK (AP) — Stocks are finishing slightly higher, led by the technology sector after Apple reported a big earnings gain.


Thu, 24 Apr 2014 15:20:18 -0400

Traders work on floor of New York Stock ExchangeBy Chuck Mikolajczak NEW YORK (Reuters) - The Nasdaq rose modestly in choppy trade on Thursday as Apple's shares rallied a day after the iPad maker's strong results, though tensions in Ukraine held back the broader market. Caterpillar Inc shares jumped nearly 2 percent and helped limit the Dow’s loss after the world's largest maker of earth-moving machinery reported earnings that exceeded Wall Street's expectations. The three major U.S. stock indexes had opened sharply higher, with the Nasdaq initially climbing more than 1 percent before turning negative in the first half-hour of trading. Wall Street bounced off session lows with gains again concentrated in the Nasdaq, but stocks remained well off earlier highs.


Thu, 24 Apr 2014 13:56:51 -0400

The NASDAQ MarketSite in Times Square in New YorkAuthor Michael Lewis' claim that the U.S. stock market is rigged was "irresponsible," but the debate it has sparked could lead to positive change, said Bob Greifeld, chief executive of Nasdaq OMX Group , which reported higher earnings on Thursday. "I think certainly it was an irresponsible piece of work and it served to tell a story without any research or factual checking of what was going on and I think it did a disservice to the industry," Greifeld said in an interview. Shortly before "Flash Boys" was released in late March, New York Attorney General Eric Schneiderman said U.S. stock exchanges and alternative trading platforms provide high-frequency traders (HFTs) with unfair technological advantages that give them early access to key data. Last week, Reuters learned that his office had sent subpoenas to at least half-a-dozen HFT firms seeking information on their relationships with exchanges.


Thu, 24 Apr 2014 13:55:39 -0400

Scaffolding is seen outside the NASDAQ MarketSite in Times Square in New YorkNEW YORK (Reuters) - Nasdaq OMX Group Inc has not to date received a subpoena from the New York attorney general as part of its industrywide probe into allegedly unfair technological advantages on Wall Street, Nasdaq Chief Executive Officer Robert Greifeld said on Thursday. Attorney General Eric Schneiderman is seeking information on the relationships that exchanges and off-exchange platforms, known as dark pools, have with high-frequency trading firms, and has issued subpoenas to at least half-dozen firms, Reuters reported last week. (Reporting by John McCrank; Editing by Jeffrey Benkoe)


Thu, 24 Apr 2014 13:13:21 -0400

Tripp Mancuso, 4, works with his trader father Peter Mancuso on the floor of the New York Stock Exchange, during the NYSE Working Parents/Caregivers Employee Resource Group's annual Take Your Child to Work Day program, Thursday, April 24, 2014. Mixed earnings from a large number of U.S. companies left the stock market without direction early Thursday, despite positive results from a handful of names including Apple and Caterpillar. (AP Photo/Richard Drew)NEW YORK (AP) — Strong earnings from a number of U.S. companies including Apple and Caterpillar had stocks moving mostly higher Thursday afternoon. 3M was among those whose results disappointed investors.


Thu, 24 Apr 2014 12:43:51 -0400

A trader works by the post where Verizon is traded on the floor of the New York Stock ExchangeBy Marina Lopes NEW YORK (Reuters) - Verizon Communications Inc's reluctance to offer mass discounts in a near-saturated mobile market is costing it new subscribers, analysts said on Thursday as the largest U.S. wireless carrier missed Wall Street's profit expectations. Shares of Verizon were down nearly 3 percent at midday on Thursday, making it the biggest percentage loser among Dow Jones industrial average component stocks. While its rivals have engaged in aggressive discounting, Verizon has been more conservative in price cuts in an attempt to preserve revenue per user at the expense of subscriber adds. "Verizon and AT&T have solid networks but their price premium is so large that it is going to be very hard for everyone to have their cake and eat it too," said Craig Moffett, a senior analyst at MoffettNathanson.


Thu, 24 Apr 2014 12:38:51 -0400

The Time Warner Cable logo is displayed on the back of a van in New YorkTime Warner Cable Inc (TWC) lost fewer subscribers than expected and posted healthier results for its residential business, a sign that the turnaround plan it unveiled early this year may be starting to work. Reporting results for the first quarter, the company said on Thursday it lost 34,000 video subscribers on a net basis, fewer than the 77,300 Wall Street analysts were expecting. It also added 269,000 Internet subscribers - the most since the first quarter of 2008. The company, which agreed to be acquired by Comcast Corp (CMCSA) for $45.2 billion, is coming off several quarters where it shed hundreds of thousands of video subscribers.


Thu, 24 Apr 2014 12:14:20 -0400
By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks rose in a volatile session on Thursday as Apple and Caterpillar were the latest high-profile names to post bullish results, though gains were limited by a resurgence of concerns related to Ukraine. Markets had opened sharply higher, with the Nasdaq initially climbing more than 1 percent before turning negative in the first half-hour of trading. While Wall Street subsequently recovered, with gains again concentrated in the Nasdaq, it remained well off its early highs. "All those geopolitical concerns warrant instability and higher commodity prices, and both of those are things Wall Street hates." Apple Inc, the most valuable U.S. company by market capitalization, rose 8.1 percent to $567.07 a day after posting revenue that far outpaced expectations, helped by strong iPhone sales.
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