The Other Side of Life 24/7: Daily Investor Briefing: S&P 500 posts best two-day advance in...

Tuesday, October 16, 2012

Daily Investor Briefing: S&P 500 posts best two-day advance in...

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10/16/2012

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

S&P 500 posts best two-day advance in a month

NEW YORK (Reuters) - Stocks rose on Tuesday, giving the S&P 500 its best two-day advance in a month as strong earnings from Johnson & Johnson and other bellwether companies raised hopes for the rest of the U.S. reporting season.

Intel's outlook falls short of expectations

SAN FRANCISCO (Reuters) - Intel forecast gross margins for the current quarter below expectations in a PC industry fighting a weak global economy and a shift by consumers toward tablets and smartphones.

IBM third-quarter earnings rise, revenue hurt by strong dollar

(Reuters) - IBM reported third-quarter revenue of $24.7 billion and net earnings of $3.9 billion as demand for its software services and tight cost management offset the effect of a stronger dollar on the technology and consulting company.

Citi's CEO Pandit exits abruptly after board clash

(Reuters) - Citigroup Inc's Vikram Pandit quit as chief executive on Tuesday after months of simmering tensions with the board - an abrupt change that surprised investors and employees of the third-largest U.S. bank.

Factory output up modestly, inflation looks in check

WASHINGTON (Reuters) - The U.S. economy came under pressure from abroad in September as weak global demand appeared to hold back factory output and a surge in gasoline prices dented consumers' spending power, data showed on Tuesday.

Pressure rises on Obama in debate rematch

HEMPSTEAD, New York (Reuters) - President Barack Obama's camp promised that the American public would see a more energized and visionary incumbent on Tuesday night as Obama tries to keep Republican challenger Mitt Romney at bay.

Goldman takes less risk, executives strike cautious tone

(Reuters) - Goldman Sachs Group Inc took less risk and earned less money from customers' trading last quarter, even as the Wall Street bank reaped big gains from the rising values of its stock and bond investments.

Analysis: As more U.S. audit work moves to India, concerns arise

NEW YORK/MUMBAI (Reuters) - Auditing of U.S. corporations' financial books, a vital underpinning of investor confidence, increasingly relies on work carried out in India, where there is no clear system of oversight.

Analysis: Xstrata investors get pay vote but may not risk stand

That could be advice for corporate governance advocates who sought a separate vote on the lavish executive pay deal that was bundled in as part of the terms of the $33 billion merger between Glencore and Xstrata.

Merrill ordered to pay couple $1.34 million over Fannie Mae shares

(Reuters) - Merrill Lynch must pay $1.34 million to a Florida couple who alleged the brokerage misrepresented the risks of Fannie Mae preferred shares in 2009, when the housing finance company was on the brink of collapse, an arbitration panel ruled on Tuesday.