TOP STORIES
PUTIN SEEKS TO REASSURE ON ECONOMY
President Vladimir Putin sought to reassure Russians that the
country's economic troubles will pass in no more than two years,
saying that the government is responding "appropriately," though a
bit belatedly.
U.S. STOCKS TRADE SHARPLY HIGHER
U.S. stocks opened sharply higher, buoyed for a second session
after the Federal Reserve reaffirmed that it is in no rush to raise
interest rates. The Dow Jones Industrial Average climbed more than
200 points.
OIL FUTURES CLIMB
Global oil prices rallied as signs were emerging that the market
might be looking to find a bottom, albeit a temporary one.
U.S. JOBLESS CLAIMS FALL TO 289,000
The number of Americans filing for first-time unemployment
benefits dropped last week and stayed near 14-year lows. Initial
jobless claims fell by 6,000 to a seasonally adjusted 289,000.
Economists expected 295,000 new claims.
COUCHE-TARD TO BUY PANTRY FOR $860 MILLION
Alimentation Couche-Tard agreed to buy convenience-store chain
Pantry for about $860 million, strengthening its position in the
southeastern U.S.
KRAFT FOODS GROUP CEO TO RETIRE
Kraft Foods Group said Chief Executive Tony Vernon will retire
by the end of the year, naming its board chairman and PepsiCo
veteran John Cahill as his successor to the top executive spot.
FRANCE FINES CONSUMER PRODUCT COMPANIES
France's antitrust authority said it has fined a group of
personal and home-care products companies a total of nearly 1
billion euros for anticompetitive practices between 2003 and
2006.
CONAGRA'S PROFIT PLUNGES ON PRIVATE-LABEL WRITE-DOWN
ConAgra posted earnings of $10 million, or 2 cents a share, as
it took a large write-down on its struggling private-label segment.
The company, however, reaffirmed its earnings outlook for the
year.
WELLS FARGO FINED FOR ANTI-MONEY- LAUNDERING 'FAILURES'
Finra said it was fining Wells Fargo & Co. $1.5 million for
anti-money-laundering failures. Wells Fargo Advisors must pay the
joint fine for failing to properly verify identification for nearly
220,000 new customer accounts, the regulator said.
MERCK ACQUIRES ONCOETHIX FOR UP TO $375 MILLION
Merck acquired privately held OncoEthix for up to $375 million,
its latest push into the oncology market as the pharmaceutical
giant continues bolstering its research-and-development
pipeline.
SANDERSON FARMS PROFIT JUMPS
Sanderson Farms said its 4Q profit more than doubled as it
benefited from falling grain prices and higher prices for its
poultry products. Results topped expectations. It posted a profit
of $93.1 million, or $4.04 a share.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
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YELLEN PLAYBOOK PUTS SLACK OVER OIL PRICE DECLINES
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X FACTORS TO NORMALIZING U.S.-CUBA RELATIONS
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