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Thursday, May 3, 2012

Business Today: Wall Street slips day ahead of jobs report

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05/3/2012
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Wall Street slips day ahead of jobs report
NEW YORK (Reuters) - Stocks fell on Thursday as economic data sent mixed signals on the recovery a day before the April payrolls report, while shares of Green Mountain plunged after poor results.
Facebook plans to raise up to $12 billion in mega IPO
SAN FRANCISCO (Reuters) - Facebook Inc plans to raise as much as $12 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world's largest social network a market value close to Amazon.com's.
April turns weak for retailers; apparel bucks trend
(Reuters) - Several large retailers, including Target Corp , Macy's Inc and Gap Inc , missed sales estimates for April, in sync with broader economic indicators and as cooler weather chilled some of the enthusiasm shoppers had shown earlier this year.
Chesapeake Energy confirms U.S. SEC probe
(Reuters) - Chesapeake Energy Corp said on Thursday the company and Chief Executive Aubrey McClendon are under investigation by the U.S. Securities and Exchange Commission as part of an informal inquiry.
Jobless claims tumble, service sector slows
WASHINGTON/NEW YORK (Reuters) - The number of Americans filing new claims for jobless aid dropped by the most in nearly a year last week, easing fears the United States' labor market recovery was stalling.
Third Point: Yahoo CEO faked educational record
SAN FRANCISCO (Reuters) - Activist hedge fund Third Point on Thursday accused Yahoo Inc's new chief executive, Scott Thompson, of padding his educational record, and Yahoo called the discrepancy an "inadvertent error."
AIG first-quarter profit rises
NEW YORK (Reuters) - Bailed-out insurer American International Group said first-quarter profit more than doubled from a year earlier, when the company racked up substantial catastrophe losses related to the March 11 earthquake in Japan.
Kraft profit beats by a penny
(Reuters) - Kraft Foods Inc reported quarterly profit on Thursday that was slightly ahead of Wall Street estimates, helped by price increases and an earlier Easter holiday.
Mexico's Slim agrees to cut phone costs to skip fine
MEXICO CITY (Reuters) - Mexico's competition watchdog has ordered Carlos Slim to cut charges he levies on mobile phone competitors in exchange for dropping a record fine, exacting a small concession from the country's dominant telecoms mogul.
J.C. Penney names new CFO
(Reuters) - J.C. Penney Co Inc on Thursday said it named an outside executive with experience in reducing costs to be its new finance chief.
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