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Wednesday, May 23, 2012

Daily Investor Briefing: Late rally lifts Wall Street into...

Reuters » Daily Investor Update
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05/23/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Late rally lifts Wall Street into close
NEW YORK (Reuters) - Stocks staged a late-day reversal on Wednesday, rallying into the close as a sharp rise in materials shares boosted the S&P 500 and gains in Apple helped lift the Nasdaq.
HP to lay off about 27,000, eyes over $3 billion savings
SAN FRANCISCO (Reuters) - Hewlett Packard Co outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth.
Apple: U.S. e-book lawsuit "fundamentally flawed"
(Reuters) - Apple Inc is rejecting charges that it conspired to fix prices of electronic books, calling the U.S. government's antitrust lawsuit a "fundamentally flawed" endeavor that could discourage competition and harm consumers.
Jury deals blow to Oracle in case vs. Google
SAN FRANCISCO (Reuters) - Google Inc's Android mobile platform has not infringed Oracle Corp's patents, a California jury decided, putting an indefinite hold on Oracle's quest for damages in a legal fight between the two Silicon Valley giants over smartphone technology.
NYSE pitches listing to Facebook after IPO mess: source
SAN FRANCISCO (Reuters) - Facebook is considering a stock-listing proposal put forward by the New York Stock Exchange, a source familiar with the situation told Reuters, in the wake of a disappointing initial public offering last week on the rival Nasdaq bourse.
Dell's strategy questioned as shares dive
(Reuters) - Shares of Dell Inc plunged 17 percent Wednesday after a disappointing revenue forecast spurred fears that global tech spending is weakening faster than anticipated and raised doubts about the PC maker's strategy.
Eurozone looks at Greek exit as leaders meet
BRUSSELS (Reuters) - European leaders, at odds over how to resolve the deepening crisis in the euro zone on Wednesday, have been advised by senior officials to prepare contingency plans in case Greece quits the single currency area.
Gupta trial jury told of "top secret" Buffett deal
NEW YORK (Reuters) - The deal that gave Goldman Sachs Group Inc a $5-billion boost from renowned investor Warren Buffet at the height of the 2008 financial crisis was "as top secret as you could get," a leading banker testified on Wednesday at the insider-trading trial of onetime Goldman board member Rajat Gupta.
Fed near limit on scope to help jobs: Kocherlakota
RAPID CITY, South Dakota (Reuters) - A rise in U.S. inflation over the past year suggests the Federal Reserve has little firepower left to boost employment, a top Fed official said on Wednesday.
Facebook, banks sued over pre-IPO analyst calls
(Reuters) - Facebook Inc and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking company's weakened growth forecasts ahead of its $16 billion initial public offering.
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