The Other Side of Life 24/7: Daily Investor Briefing: Wall St. ends higher, Apple closes...

Monday, May 5, 2014

Daily Investor Briefing: Wall St. ends higher, Apple closes...

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05/5/2014

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, Apple closes above $600

NEW YORK (Reuters) - U.S. stocks ended slightly higher as data showed strength in the services sector and Apple shares rallied, boosting the Nasdaq.

Service sector growth accelerates in April: ISM survey

NEW YORK (Reuters) - Growth in the U.S. services sector accelerated in April, rising at the fastest pace in eight months as new orders jumped and overall activity quickened by the most since early 2008, an industry report showed on Monday.

AIG profit falls 27 percent

(Reuters) - American International Group Inc posted a 27 percent fall in quarterly profit on Monday, hurt by higher catastrophe losses at its core property and casualty insurance business.

Another GM engineer linked to defective ignition switch retires

DETROIT (Reuters) - A General Motors Co engineer who oversaw an internal investigation of the defective ignition switch linked to at least 13 deaths retired on Monday.

Jury leaves damages Samsung must pay Apple unchanged at $119.6 million

SAN JOSE, California (Reuters) - A U.S. jury on Monday left the total damages Samsung Electronics Co Ltd must pay Apple Inc unchanged at $119.6 million, after additional deliberations in a trial where the South Korean smartphone maker was found to have infringed three Apple patents.

Pfizer sales way off mark as company pursues AstraZeneca

NEW YORK (Reuters) - Pfizer Inc reported quarterly revenue well below Wall Street expectations on falling sales of key brands and generic drugs, underscoring its interest in pursuing a $106 billion bid for rival AstraZeneca to promote new business growth.

Target removes CEO in wake of devastating cyber attack

(Reuters) - Target Corp removed Chairman and Chief Executive Gregg Steinhafel on Monday in the wake of a devastating data breach that hurt the No. 3 U.S. retailer's profits, shook customer confidence in the company and prompted congressional hearings.

U.S. attorney general says banks may face criminal cases soon

WASHINGTON (Reuters) - The U.S. Justice Department is pursuing criminal investigations of financial institutions that could result in action in the coming weeks and months, U.S. Attorney General Eric Holder said in a video, adding that no company was "too big to jail."

Buffett says Congress may look at tax-driven mergers: CNBC

NEW YORK (Reuters) - Berkshire Hathaway Inc Chairman and Chief Executive Officer Warren Buffett said on Monday that tax-driven mergers could attract the attention of Congress and would cause a "fight" in corporate America.

Boeing, backers to fight for funding for 22 Boeing jets

ST. LOUIS (Reuters) - Boeing Co and its supporters on Monday vowed to fight for $2.1 billion in funding for 22 EA-18G electronic attack planes in fiscal 2015 to keep the plane's St. Louis production line running past 2016 and preserve 60,000 jobs around the country.