Market rises on economy signals not Fed chatter
On Tuesday Wall Street gained as economic data improved. Orders for durable goods rose, the Case Shiller home index showed year over year gains, and consumer confidence hit a five year plus high. Dow rose 115 points, S&P up 1 percent, Nasdaq up 0.7 percent. Bank stocks and homebuilders led a broad advance.
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FDA advances tobacco backlog with two Newport approvals
The FDA authorized two non menthol Newport variants from Lorillard under the 2009 law and rejected four other applications. The agency continues to review thousands of products, many submitted by manufacturers more than a year ago, as it works to clear a backlog and oversee marketing and manufacturing rules for tobacco products.
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Men's Wearhouse battle with founder escalates in public dispute
In New York, Men's Wearhouse explains firing founder George Zimmer, citing his push for changes and possible buyout plans. Zimmer, who owns 3.5 percent, had sought veto power and a sale to an investment group, while the board argues now is not the time to go private.
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