Business Today: Wall Street ends up, posts third week of gains

	Click to View in Browser 05/10/2013 Wall Street ends up, posts third week of gains NEW YORK (Reuters) - The Dow and S&P 500 ended at record highs on Friday, and stocks posted a third consecutive week of gains as a rise in Google and other technology shares offset a slide in energy stocks. Icahn, Southeastern mount challenge to Dell buyout NEW YORK/BOSTON (Reuters) - Carl Icahn and Southeastern Asset Management Inc have mounted an aggressive challenge to Michael Dell's controversial $24.4 billion offer to take Dell Inc private, offering $21 billion in cash to shareholders while vying to wrest control of the company from its co-founder. UBS names Palmer head of equity capital markets Americas (Reuters) - UBS has appointed James Palmer as its new head of equity capital markets for the Americas, according to an internal memo obtained by Reuters. Analysis: Drugmakers face more scrutiny of discordant U.S. prices LOS ANGELES (Reuters) - The world's biggest drug makers have for years enjoyed rich premiums for their medicines in the U.S. market. Those days may be coming to an end. Fed's Bernanke warns shadow banking risks persist CHICAGO (Reuters) - Federal Reserve Chairman Ben Bernanke said on Friday that the shadow banking system still posed a threat to financial stability, and funding markets might still not be able to cope with a major default. JPMorgan board unanimously backs Dimon as chairman, CEO: letter NEW YORK (Reuters) - Two ranking JPMorgan Chase & Co directors issued a letter to shareholders on Friday arguing against recommendations by proxy advisory firms to split the duties of Chairman and CEO Jamie Dimon and vote against some directors. April budget surplus is biggest in five years WASHINGTON (Reuters) - The United States posted its biggest monthly budget surplus in five years in April, the Treasury Department said on Friday, adding that revenues are running at a record high so far this year thanks to higher taxes and an improving economy. U.S. judge orders Hewlett-Packard to face shareholder lawsuit (Reuters) - Hewlett-Packard Co must defend against a lawsuit accusing former management at the world's largest personal computer maker of defrauding shareholders by abandoning a business model it had long touted, causing more than $16 billion of market value to be wiped out. Proxy firms divided on Clearwire-Sprint deal (Reuters) - The biggest U.S. proxy advisory firms on Friday issued conflicting opinions on Sprint Nextel Corp's proposed takeover of Clearwire Corp , with ISS advising Clearwire shareholders to vote in favor of the deal and Glass Lewis urging them to vote against it. Peregrine Financial may have "viable" claims versus banks: trustee SAN FRANCISCO (Reuters) - Peregrine Financial Group's bankruptcy estate may have "viable" claims against JPMorgan Chase & Co and U.S. Bancorp for harm done to clients of the now-failed brokerage, and may pursue them in court, Peregrine's trustee said in a filing this week. Related Video Bailout fears for Britain's Co-op Bank Daily Digit: 1776 feet high Economic News Fed's Bernanke warns shadow banking risks persist April budget surplus is biggest in five years 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