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Tuesday, February 5, 2013

Daily Investor Briefing: Wall Street bounces back after...

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02/5/2013
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
Wall Street bounces back after sell-off; results a boost
NEW YORK (Reuters) - Stocks climbed on Tuesday, recovering a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture.
Dell to go private in landmark $24.4 billion deal
SAN FRANCISCO/NEW YORK (Reuters) - Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny.
Disney posts lower first quarter, ESPN operating income fell
LOS ANGELES (Reuters) - Media giant Walt Disney Co posted lower earnings on Tuesday, due in part to higher programming costs for its ESPN sports division.
U.S. government slams S&P with $5 billion fraud lawsuit
(Reuters) - The government is seeking $5 billion in its civil lawsuit against Standard & Poor's, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department over conduct tied to the financial crisis.
Deficit to shrink slightly, growth to slow this year: CBO
WASHINGTON (Reuters) - The fiscal 2013 budget deficit will dip to $845 billion after four straight years of $1 trillion-plus deficits, the Congressional Budget Office said on Tuesday, largely because of higher taxes now being paid by wealthy Americans.
Goldman Sachs' O'Neill, aka Mr. BRIC, to retire
(Reuters) - Jim O'Neill, a Goldman Sachs Group Inc executive who coined the term "BRIC" to refer to four fast-growing emerging markets, will retire later this year, according to an internal memo sent out on Tuesday.
Louis Freeh to chair U.S. law firm Pepper Hamilton
(Reuters) - Louis Freeh, the former director of the Federal Bureau of Investigation and the trustee overseeing the bankruptcy of MF Global, has become chair of the law firm Pepper Hamilton LLP, the firm's leaders said on Tuesday.
Ally working to repay Treasury stock in "near future"
(Reuters) - Ally Financial Inc, the U.S. auto lender that is majority-owned by the U.S. government, is working to repay $5.9 billion in preferred stock owned by the U.S. Treasury "in the near future," Chief Executive Officer Michael Carpenter said on Tuesday.
Yum CEO says time, not more ads, to cure China sales drop
(Reuters) - KFC parent Yum Brands Inc on Tuesday said time, not ad spending, is the cure for a steep sales decline at its restaurants in China that was sparked by a food safety scare late last year.
MasterCard doubles dividend, to buy back $2 billion of shares
(Reuters) - MasterCard Inc doubled its quarterly cash dividend and said it would buy back up to $2 billion of its Class A shares, days after the card payment network reported strong fourth- quarter results helped by its performance in emerging markets.
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