Markets Hover Ahead of Election as Dow Ends Slightly Up
Wall Street waited for the presidential election with indecision and mixed earnings from Hasbro VF Corp and SunTrust. The Dow dipped early then closed near unchanged at 13345.89 while the S&P 500 edged up to 1433.81 and the Nasdaq rose to 3016.96. Investors await Friday's GDP data highlighting a cautious market mood.
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Hasbro
VF Corp
Sun- Trust
Katz
Standard & Poor
Rosneft Agrees to Buy TNK-BP Reshaping Oil Giant Landscape
Rosneft seals a deal to acquire the BP led 50 percent TNK-BP stake for 17.1 billion dollars plus a 12.84 percent share, boosting output to about 4.6 million barrels per day and positioning Rosneft as the largest publicly traded oil producer. BP gains two board seats and aims to raise its Rosneft stake to 19.75 percent. AAR also sells its 50 percent in TNK-BP for 28 billion dollars in a separate, independent deal pending conditions.
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Smaller iPad price guesses surface before launch
New York reports on a much anticipated Apple event for a 7.85 inch iPad Mini with price guesses ranging from 249 to 329 dollars. Analysts note a possible 4G model and compare with Kindle Fire 159 dollars and Nexus 7 199 dollars while Apple sellers its iPad 2 at 399 dollars.
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Wal Mart sued over wage and staffing practices
A class action filed in Illinois alleges Wal Mart Stores Inc and staffing agencies Labor Ready and QPS violated federal minimum wage and overtime laws by underpaying temporary workers who worked early, late, and through breaks. The suit also claims missing employment information. Yahoo posts modest Q3 gain under Mayer. Net revenue improves for third straight year as Mayer steers turnaround.
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Private equity group to buy Ancestry.com for 1.6 billion
Permira Funds led group to acquire Ancestry.com in a cash deal valued around 1.6 billion dollars. Offer at 32 per share, about 10 percent above prior close. Ancestry.com reports over 2 million paying subscribers and more than 10 billion records added in 15 years.
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Ancestry.com
Permira Funds
Philips Q3 earnings rise on growth across units
Royal Philips Electronics reports net profit of 220 million dollars in Q3, up from 97 million a year earlier, helped by modest growth across all segments and the disposal of the loss-making television unit. Sales reach 8 billion dollars, up 3.4 percent.
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Royal Philips Electronics NV
Philips
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