Daily Investor Briefing: Wall St. sinks on news of Malaysian...

	Click to View in Browser 07/17/2014 Wall St. sinks on news of Malaysian plane crash NEW YORK (Reuters) - U.S. stocks ended sharply lower on Thursday, with the S&P 500 posting its biggest one-day percentage drop since April 10 on news that a Malaysian Airlines passenger jet crashed near the Ukraine-Russia border. Google second-quarter revenue increases 22 percent SAN FRANCISCO (Reuters) - Google Inc's revenue increased 22 percent in the second quarter, as the Internet company saw strong demand for ads on its websites. Microsoft to cut 18,000 jobs this year as it chops Nokia SEATTLE (Reuters) - Microsoft Chief Executive Officer Satya Nadella kicked off one of the largest layoffs in tech history on Thursday, hoping to reshape the aging PC industry titan into a nimbler rival to Apple and Google, and jolt a culture at the company that is used to protecting its existing Windows and Office franchises. Morgan Stanley profit more than doubles, beating estimates (Reuters) - Morgan Stanley's second-quarter income more than doubled, helped by rising revenue in its retail brokerage business as it won more assets to manage from clients, the investment bank said on Thursday. IBM beats revenue estimates as company focuses on big data, cloud WASHINGTON (Reuters) - International Business Machines Corp reported higher than expected quarterly revenue, as it continued to divest low performing sectors and shift to higher-end businesses such as big data, cloud computing, and security and mobile services. HP appoints CEO Whitman chairman, expands board SAN FRANCISCO (Reuters) - Hewlett-Packard Co appointed Chief Executive Officer Meg Whitman its chairman on Thursday and enlisted Alcoa CEO Klaus Kleinfeld as an independent director, adding a 12th member to its board. U.S. economy gaining traction despite weak housing WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to sustained momentum in the economy even as home building fell for a second straight month in June. Senators to GM: Why wasn't top lawyer fired? (Reuters) - Senators on Thursday demanded to know why General Motors Co did not fire its top lawyer after it was revealed this year that the automaker's litigation department knew of a widespread and deadly ignition flaw but failed to escalate the safety issue. Shire, AbbVie to announce $53 billion merger by Friday: sources (Reuters) - Shire Plc and U.S. drugmaker Abbvie Inc plan to announce a $53 billion merger as soon as Friday morning, two people said on Thursday. Facebook tests new 'buy' button for online purchases in U.S. SAN FRANCISCO (Reuters) - Facebook Inc is testing a new "buy" button on its website that will let consumers purchase products that are advertised on its social network. Related Video ECB to disclose unrivaled data post stress tests - Constancio Microsoft Corp says it will slash up to 18,000 jobs Related News Fed comments on valuation fall flat with U.S. fund managers Morgan Stanley wealth unit thrives, but compensation still a concern A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend