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Wednesday, February 4, 2015

Business Today: Futures dip after two-day run; ADP data on tap

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Futures dip after two-day run; ADP data on tap
NEW YORK (Reuters) - U.S. stock index futures dipped on Wednesday, after a two-day rally for the S&P 500 ahead of data on the labor market and the services sector.
GM reports much higher-than-expected fourth-quarter profit
DETROIT (Reuters) - General Motors Co on Wednesday posted fourth-quarter earnings far above analysts' expectations even as recall costs hit North American profit margins.
Sony trims loss forecast after strong third quarter on higher sensor sales
TOKYO (Reuters) - Japan's Sony Corp said its net annual loss will likely be smaller than previously forecast after cost cuts and strong sales of its image sensors and PlayStation video game consoles helped its third-quarter profit beat estimates.
Staples inks deal to buy Office Depot for $6.3 billion
(Reuters) - Staples Inc , the No. 1 U.S. office supplies retailer, agreed to buy No. 2 Office Depot Inc in a $6.3 billion deal designed to help it better compete against Wal-Mart Stores Inc and online rivals such as Inc .
Toyota lifts profit outlook as weak yen offsets Japan slump
TOKYO (Reuters) - Toyota Motor Corp lifted its operating profit guidance on Wednesday in a widely expected move, as a weaker yen increases the value of sales overseas and makes up for slumping demand at home.
Ralph Lauren's quarterly profit falls 9.3 percent
(Reuters) - Ralph Lauren Corp reported a 9.3 percent drop in quarterly profit, hurt by a stronger dollar and lower-than-expected sales, sending its shares down 9.7 percent in premarket trading.
Oil falls, cuts short four-day rally as U.S. stocks build
LONDON (Reuters) - Oil prices fell on Wednesday after a new build in U.S. crude stock levels put a global glut back in focus, cutting short a rally that pushed up prices by about 19 percent over the past four sessions.
U.S. private sector adds 213,000 workers in January: ADP
(Reuters) - U.S. private employers added 213,000 jobs in January, falling short of the median forecasts of analysts, a payrolls processor report showed on Wednesday.
China cuts bank reserve requirement to spur growth
BEIJING (Reuters) - China's central bank made a system-wide cut to bank reserve requirements on Wednesday, the first time it has done so in over two years, to unleash a fresh flood of liquidity to fight off economic slowdown and looming deflation.
'Frozen' still hot as Disney profit beats forecasts
(Reuters) - Walt Disney Co's quarterly profit topped Wall Street's estimates as its blockbuster animated film "Frozen" heated up home entertainment and toy sales, and visitors flocked to the company's U.S. theme parks.
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