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Tuesday, April 10, 2012

Daily Investor Briefing: Wall Street sinks, S&P below support...

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04/10/2012
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
Wall Street sinks, S&P below support level
NEW YORK (Reuters) - Stocks fell in a broad and steep decline on Tuesday, with the S&P 500 dropping for a fifth day to break under a key support level.
Alcoa posts first-quarter profit
NEW YORK (Reuters) - Aluminum producer Alcoa Inc on Tuesday reported a first-quarter profit after a loss in the fourth quarter of 2011 as a result of improved market conditions.
Best Buy CEO out as more shoppers move online
(Reuters) - Best Buy Co Chief Executive Brian Dunn is stepping down from the world's largest consumer electronics chain, which said it is looking for a new CEO to help it better compete against Internet retailers and discounters.
February job openings rise to 3.5 million
WASHINGTON (Reuters) - The number of unemployed American workers for every job opening fell in February to its lowest since late 2008, pointing to ongoing healing in the still-weak labor market.
Wholesale stocks rise boosts Q1 GDP forecasts
WASHINGTON (Reuters) - Wholesale inventories rose solidly in February as petroleum recorded the biggest increase in a year, prompting analysts to raise their estimates for first-quarter economic growth.
Fannie, Freddie loan write downs possible: regulator
WASHINGTON (Reuters) - The regulator for Fannie Mae and Freddie Mac said on Tuesday it might make sense for the housing finance companies to write down loan principal under an Obama administration plan, but further study was needed.
Top Goldman Sachs dealmaker Zaoui to retire
LONDON (Reuters) - Veteran Goldman Sachs dealmaker Yoel Zaoui is set to retire, the latest in a series of high profile departures from investment banks shaking up top management in the wake of the financial crisis.
Sony sees record $6.4 billion loss on tax hit
TOKYO (Reuters) - Japan's Sony Corp flagged a record $6.4 billion annual net loss, double an earlier forecast and a fourth straight year of red ink, as it writes off deferred tax credits, heaping more pressure on its new CEO to turn around the electronics giant.
Nike, Reebok settle Tim Tebow apparel dispute
(Reuters) - Nike Inc and Reebok International Ltd have settled a lawsuit over the right to sell New York Jets football apparel bearing the name of the Jets' new quarterback, Tim Tebow.
McDonald's in franchising deal with Russia's Rosinter
MOSCOW (Reuters) - McDonald's Corp will franchise out restaurants in Russia for the first time after picking the sector's largest restaurant holding company Rosinter as its partner in the fast-growing market.
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