Dow, S&P slip; Nasdaq barely in black despite Apple’s jump
NEW YORK (Reuters) – U.S. stocks mostly retreated on Wednesday as falling utility and commodity shares more than offset gains in the tech sector on Apple’s solid earnings.
SEC judge in Cohen case no stranger to high-profile cases
WASHINGTON (Reuters) – The Securities and Exchange Commission judge who will oversee the agency’s administrative trial against hedge fund tycoon Steven A. Cohen has a history of presiding over high-profile and thorny cases.
Former UBS bankers get prison terms for muni bid-rigging
NEW YORK (Reuters) – Three former UBS AG bankers were sentenced to prison on Wednesday for deceiving U.S. municipalities by rigging bids to invest municipal bond proceeds, with the longest sentence at 27 months, a fraction of what prosecutors had sough…
DOJ expects to charge SAC Capital on Thursday: source
NEW YORK (Reuters) – Federal prosecutors are continuing to look for ways to build a criminal case against billionaire trader Steven A. Cohen at the same time as they prepare to announce criminal charges against his hedge fund on Thursday, people famili…
Bank of America adds two board members
(Reuters) – Bank of America Corp’s board added two directors, Clayton Rose and Pierre de Weck, effective immediately, the bank said on Wednesday.
Tourre on stand says email in SEC case ‘not accurate’
NEW YORK (Reuters) – Fabrice Tourre, the former Goldman Sachs trader accused of secretly helping the hedge fund of billionaire John Paulson construct a $2 billion deal it could bet against, said Wednesday an email he sent to a key participant in the in…
Visa raises outlook as card spending accelerates
(Reuters) – Visa Inc’s quarterly profit beat estimates as people spent more using its cards, and the largest credit and debit card network raised its full-year outlook for revenue and earnings.
DOJ probes fracking market over antitrust -Baker Hughes
(Reuters) – The Department of Justice is examining potential antitrust issues in the market for pressure pumping services, which are used in hydraulic fracturing, according to Baker Hughes Inc , owner of the third-largest pressure pumping fleet.
Facebook shares soar as users, mobile ads climb
SAN FRANCISCO (Reuters) – Facebook Inc delivered strong evidence it can thrive on smartphones and tablets on Wednesday, reporting a much better-than-anticipated surge in mobile advertising revenue in the second quarter that ignited a 20 percent share r…
300 layoffs expected Spirit Aerosystems, union says
NEW YORK (Reuters) – Spirit Aerosystems , a major supplier to Boeing , Airbus and other aircraft makers, is expected to lay off about 300 people on Thursday, a union leader said.
