Business Today: Vranos' Ellington buys Sotheby's shares; hedge funds buy J.C. Penney

	Click to View in Browser 11/14/2013 Vranos' Ellington buys Sotheby's shares; hedge funds buy J.C. Penney BOSTON/NEW YORK (Reuters) - Top U.S. hedge fund managers in the third quarter bought and sold shares of such hotly debated companies as Herbalife Ltd , J.C. Penney Co and Sotheby's . Dow, S&P 500 end at new highs after Yellen hearing NEW YORK (Reuters) - The Dow and the S&P 500 index recorded new highs on Thursday after Janet Yellen, the U.S. Federal Reserve Chair nominee, told a Senate committee the Fed's accommodative policies would continue as long as the economy remains fragile. U.S. trade, labor data underscore sluggish economy WASHINGTON (Reuters) - The U.S. trade deficit widened in September as imports rose to their highest level in almost a year and exports fell for a third consecutive month, suggesting the third-quarter growth estimate will probably be lowered. Wal-Mart's U.S. sales miss mark as shoppers stay cautious (Reuters) - Wal-Mart Stores Inc on Thursday forecast a disappointing profit for the holiday season after reporting its third straight quarterly decline in U.S. comparable sales because of fewer shopper visits. Last witness testifies against $8.5 billion BofA settlement NEW YORK (Reuters) - An expert witness testified on Thursday that Bank of America Corp's proposed $8.5 billion settlement with mortgage bond investors is rife with conflicts of interest, as opponents made a final push to derail the deal. Kimberly-Clark pursues spin-off of health care business (Reuters) - Kimberly-Clark Corp , the maker of Kleenex tissues, said its board authorized a potential spin-off of its health care business, sending its shares up 6 percent in extended trading. Fed should be tougher on large banks, Yellen says WASHINGTON (Reuters) - Big banks can still borrow more cheaply than competitors and should face tougher rules, the prospective new head of the U.S. Federal Reserve told lawmakers on Thursday. Cost to borrow Twitter shares drops, interest wanes NEW YORK (Reuters) - The cost to borrow Twitter's stock dropped further on Thursday thanks to a growing supply of shares available for loan, including to traders looking to bet on a decline in the share price, data showed on Thursday. Jana and Farallon shopped at J.C. Penney in third quarter BOSTON (Reuters) - Retailer J.C. Penney drew two prominent new institutional shoppers in the third quarter even as an ambitious overhaul fizzled and its stock price dropped. Exclusive: Red Kite in rare winning streak for physical commodity fund NEW YORK (Reuters) - Metals merchant and hedge fund Red Kite Group is on track to its third year of double-digit gains, investor reports showed, indicating a rare winning streak among commodity firms aiming to be profitable in both physical trading and investing. Related Video Yellen watching corporate earns for QE wind down cue-Lonski The Exchange: Fracking wildcatters Economic News U.S. trade, labor data underscore sluggish economy U.S. consumer debt rises in third quarter by most since early 2008 A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend