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Tuesday, July 9, 2013

Business Today: Wall Street gains for fourth day on earnings hope, FedEx jumps

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07/9/2013
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Wall Street gains for fourth day on earnings hope, FedEx jumps
NEW YORK (Reuters) - U.S. stocks rose for the fourth session in a row on Tuesday as investors bet that companies will be able to surpass the low bar set for earnings season, leaving room for better-than-expected results that could drive the rally further.
Exclusive: Community Health, others interested in Health Management
NEW YORK (Reuters) - Health Management Associates Inc has attracted takeover interest from Community Health Systems Inc and other rivals about buying the $4 billion hospital operator, three people familiar with the matter said on Tuesday.
Kroger to buy Harris Teeter for $2.5 billion, shares rise
(Reuters) - Kroger Co said on Tuesday it would buy regional grocer Harris Teeter Supermarkets Inc in a $2.5 billion deal, the latest in a string of grocery industry consolidations.
Microsoft to unveil big management reorganization Thursday: report
SAN FRANCISCO (Reuters) - Microsoft Corp will unveil on Thursday its biggest management reorganization in at least five years, to better compete in a world of mobile devices and Web-based services, according to the technology blog AllThingsD.
Big U.S. banks face tougher lending rules than global rivals
WASHINGTON (Reuters) - The eight biggest U.S. banks will need to hold twice as much equity capital as required globally under a new plan proposed by regulators on Tuesday intended to protect taxpayers from any future costly bailouts.
Lawyer's record 12-year prison term for insider trading is upheld
(Reuters) - A record 12-year prison sentence for insider trading given to a former lawyer in connection with a tipping scheme that stretched over 17 years was upheld on Tuesday by a federal appeals court.
Dell shareholder Yacktman backs Icahn buyout proposal
(Reuters) - Dell Inc shareholder Yacktman Asset Management threw its support behind Carl Icahn and Southeastern Asset Management's buyout proposal for the PC maker.
Media bias hurts SAC exec's right to fair trial -lawyer
NEW YORK (Reuters) - "Wall-to-wall" media coverage is hindering SAC Capital executive Michael Steinberg's chances at a fair trial as it mostly presumes his guilt on insider trading charges, Steinberg's lawyer claimed in a memo filed on Tuesday.
Apple, Amazon end 'app store' lawsuit
(Reuters) - Apple Inc and Amazon.com Inc have ended their lawsuit over who has the right to use the "app store" name, clearing the way for both companies to use it.
Shell's new CEO reinforces gas technology focus
LONDON (Reuters) - Royal Dutch Shell named refining head Ben van Beurden as its new chief executive, picking a man with little board-level experience but broad company exposure and first-hand knowledge of the gas technology it has bet its future on.
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