The Other Side of Life 24/7: Daily Investor Briefing: Wall St. ends higher after strong...

Tuesday, August 13, 2013

Daily Investor Briefing: Wall St. ends higher after strong...

Click to View in Browser

08/13/2013

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 St. ends higher after strong retail data

NEW YORK (Reuters) - Stocks rose on Tuesday after strong economic data including retail sales, while comments from a top Federal Reserve official gave a further boost to equities and Apple lifted the Nasdaq.

Icahn builds large Apple stake, wants larger buybacks

SAN FRANCISCO (Reuters) - Activist investor Carl Icahn said on Tuesday he has built a "large position" in Apple Inc and had a "nice conversation" with CEO Tim Cook about a larger stock buyback, sending the company's shares to a near seven-month high.

Apple options volume soars on Icahn investment

NEW YORK (Reuters) - Trading in Apple Inc options surged on Tuesday after activist investor Carl Icahn revealed via Twitter a large stake in the tech company, which he believes to be undervalued.

Former JPMorgan executive says he expects to be cleared in 'Whale' probe

(Reuters) - Lawyers for Javier Martin-Artajo, a former JPMorgan Chase & Co employee who is expected to face U.S. criminal charges for his role in a trading scandal that cost the bank $6.2 billion, said on Tuesday he expects to be cleared of wrongdoing and has cooperated with regulators.

U.S. sues to block AMR-US Airways merger; stocks fall

WASHINGTON (Reuters) - The U.S. government on Tuesday sued to block American Airlines and US Airways' proposed merger to create the world's biggest airline, saying consumers would end up paying higher fares and fees.

Fed could begin reducing bond buys in September: Lockhart

ATLANTA (Reuters) - The Federal Reserve could begin reducing its bond-buying stimulus as early as its September meeting despite inflation being below target, Atlanta Fed President Dennis Lockhart said on Tuesday.

Ackman quits J.C.Penney board, removing distraction

(Reuters) - Hedge fund billionaire Bill Ackman's two-year campaign to transform department store J.C. Penney came to an abrupt end on Tuesday with his decision to step down from the board, after a weeklong public spat with fellow board members.

SEC wins dismissal of lawsuit over handling of $7 billion Stanford fraud

(Reuters) - A federal judge in Florida has thrown out a lawsuit accusing the U.S. Securities and Exchange Commission of negligence for failing to report that the now-imprisoned swindler Allen Stanford was running a $7.2 billion Ponzi scheme.

BP sues U.S. government over contract suspensions after oil spill

NEW YORK (Reuters) - BP Plc is suing the U.S. government for barring the British oil giant from obtaining new federal contracts after the company pleaded guilty to charges related to the 2010 rig explosion in the Gulf of Mexico.