The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends slightly higher, Dow...

Tuesday, February 12, 2013

Daily Investor Briefing: Wall Street ends slightly higher, Dow...

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02/12/2013

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

Wall Street ends slightly higher, Dow near a record

NEW YORK (Reuters) - Stocks closed modestly higher on Tuesday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama's State of the Union address.

Apple CEO calls Einhorn lawsuit a "silly sideshow"

SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook said the board is carefully considering David Einhorn's proposal for the company to issue preferred stock and return more cash to investors, but he called a lawsuit brought by the star hedge fund manager against Apple a "silly sideshow."

T. Rowe Price joins growing opposition to Dell buyout

(Reuters) - Dell Inc's third-largest shareholder, T. Rowe Price Group, on Tuesday joined a growing number of investors putting pressure on Michael Dell and his partner Silver Lake to sweeten their $24.4 billion buyout offer for the PC maker.

U.S. posts $3 billion budget surplus for January

WASHINGTON (Reuters) - The budget posted a surprise surplus in January for the first time in five years, as the Treasury likely benefited from a windfall when payroll tax cuts expired.

Coca-Cola revenue misses Street view; shares drop

(Reuters) - Coca-Cola Co's fourth-quarter revenue missed analysts' estimates as lingering economic softness hurt results in Europe and China, sending its shares down 2.7 percent.

S&P parent McGraw-Hill says government's fraud case flawed

(Reuters) - The parent of credit ratings agency Standard & Poor's Corp, which was hit with a $5 billion fraud lawsuit by the U.S. government last week, fired back on Tuesday, saying it doesn't believe the government has a case.

Analysis: ICE faces tough competition in iron ore swaps launch

NEW YORK/SINGAPORE (Reuters) - IntercontinentalExchange Inc may struggle to wrest much business from Asian rival Singapore Exchange as U.S.-based ICE embarks on its latest push into the lucrative, 115-million-tonne market for iron ore swaps.

Exclusive: Shareholder objects to Outdoor Channel merger deal

LOS ANGELES (Reuters) - A firm that owns more than 2 percent of Outdoor Channel Holdings Inc urged the company's board to halt a planned sale of the cable network to Leo Hindrey's InterMedia Outdoor Holdings LLC, according to a letter provided to Reuters.

Auction rate arbitration against UBS may proceed: judge

NEW YORK (Reuters) - UBS AG has lost a bid to block a securities arbitration by a Minnesota healthcare organization asserting claims arising out of $125 million in auction-rate securities it issued in 2007.

For investors, Obama's tone more important than substance

NEW YORK (Reuters) - U.S. investors have had plenty of reasons to worry about what goes on in Washington, from "fiscal cliff" fears to concerns about a debt default or government shutdown. But President Barack Obama's State of the Union address on Tuesday night is unlikely to be one of those reasons.