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Thursday, July 25, 2013

Daily Investor Briefing: U.S. charges SAC Capital with insider...

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07/25/2013
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
U.S. charges SAC Capital with insider trading crimes
By Emily Flitter, Svea Herbst-Bayliss and Jonathan Stempel
Amazon shares dip on cautious third-quarter forecast
SAN FRANCISCO (Reuters) - Amazon.com Inc reported a second-quarter net loss and issued cautious third-quarter forecasts on Thursday, pressuring shares of the world's largest Internet retailer.
Facebook's surge lifts Nasdaq, earnings curb Dow and S&P
NEW YORK (Reuters) - The Nasdaq climbed on Thursday as Facebook's stock scored its biggest daily percentage gain, but a mixed bag of earnings from other companies limited the Dow and the S&P 500 to modest gains.
U.S. charges six in major credit card, Nasdaq hacking cases
NEWARK, N.J./BOSTON (Reuters) - U.S. prosecutors charged six foreign nationals with hacking crimes, including credit and debit card thefts that authorities say cost U.S. and European companies more than $300 million in losses, and charged one of them with breaching Nasdaq computers.
Businesses set to step up capital goods spending
WASHINGTON (Reuters) - A gauge of planned business spending on capital goods rose in June, buoying hopes of an acceleration in economic growth in the second half of 2013.
SAC gets cut by 'edge,' a word Cohen hated
NEW YORK (Reuters) - The word that Steve Cohen hates is coming back to bite him.
SAC Capital seeks protective order on operations after charges
NEW YORK (Reuters) - Steven A. Cohen's $15 billion hedge fund SAC Capital Advisors is working on an agreement with U.S. prosecutors for an order to "reasonably protect all parties legitimate interests" as the firm faces criminal insider trading charges.
GSK replaces China chief amid corruption scandal
LONDON (Reuters) - GlaxoSmithKline has appointed one of its top European executives as the new head of operations in China, amid a corruption scandal there that has rocked Britain's biggest drug maker.
SAC says did not encourage insider trading, will continue operating
NEW YORK (Reuters) - Steven A. Cohen's $15 billion hedge fund SAC Capital Advisors will continue to operate as the firm deals with criminal charges of insider trading, a spokesman for SAC said in a statement.
GM profit beats Street on aggressive cost-cutting in Europe
DETROIT (Reuters) - General Motors Co posted a higher-than-expected second-quarter profit on Thursday as aggressive cost-cutting helped the U.S. automaker narrow its losses in Europe.
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