The Other Side of Life 24/7: Daily Investor Briefing: Weak outlooks doom Dow to worst day...

Tuesday, October 23, 2012

Daily Investor Briefing: Weak outlooks doom Dow to worst day...

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10/23/2012

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

Weak outlooks doom Dow to worst day in four months

NEW YORK (Reuters) - Stocks fell on Tuesday, driving the Dow industrials to the biggest drop since June 21, as weak results from index members DuPont and United Technologies showed profit growth is slowing.

Facebook mobile gains spur revenue growth

SAN FRANCISCO (Reuters) - Facebook Inc posted a better-than-expected 32 percent jump in third-quarter revenue to $1.26 billion, as the company reignited advertising growth with the help of gains in mobile.

Apple unwraps mini-iPad to take on Amazon, Google

SAN JOSE (Reuters) - Apple Inc took the wraps off an 8-inch tablet on Tuesday in its biggest product move since the debut of the iPad two years ago, launching a smaller version of the gadget into a market staked out by Amazon.com Inc and Google Inc.

Judges to weigh Rajaratnam appeal of insider case

NEW YORK (Reuters) - A panel of judges on Thursday will hear arguments that U.S. prosecutors should not have been able to play dozens of FBI wiretaps at the criminal trial of hedge fund tycoon Raj Rajaratnam, a closely watched appeal in one of the biggest insider-trading cases in a generation.

Sirius XM says CEO to step down

(Reuters) - Sirius XM Radio Inc said Chief Executive Mel Karmazin will step down on February 1, 2013, after the expiry of his employment agreement.

Consumers seen lifting GDP, but pace sluggish

WASHINGTON (Reuters) - A late spurt in consumer spending probably lifted U.S. economic growth in the third quarter, but the pace of expansion will be too meager to raise hopes stubbornly high unemployment will come down much further anytime soon.

Apax, KKR, Madison Dearborn bid for Heartland Dental: sources

NEW YORK (Reuters) - Private equity firms KKR & Co , Apax Partners and Madison Dearborn Partners are bidding for Heartland Dental Care Inc, one of the largest U.S. dental practice management companies and which could be worth around $1.3 billion, according to people familiar with the matter.

Wells Fargo raises share buyback authorization

(Reuters) - Wells Fargo & Co , the fourth-largest U.S. bank by assets, said its board had increased its stock repurchase authorization by 200 million shares.

Companies sharpen job-cutting shears as sales slow

BOSTON (Reuters) - Faced with weakening revenue, two of the largest U.S. companies warned on Tuesday that they would cut jobs to protect profits.

EU to mull plan to bring non-euro states into bank union

BRUSSELS (Reuters) - European Union countries will examine a plan this week to allow the ECB to supervise banks in states outside the euro zone alongside those within the currency area, according to an EU document that lays down limits on the central bank's role.