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Thursday, February 6, 2014

Business Today: SAC Capital's Martoma found guilty of insider trading

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02/6/2014
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
SAC Capital's Martoma found guilty of insider trading
NEW YORK (Reuters) - Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors hedge fund, was found guilty on Thursday of engaging in what prosecutors called the most lucrative insider trading scheme in U.S. history.
Wall Street rallies on labor market data, earnings
NEW YORK (Reuters) - U.S. stocks posted their best day of the year on Thursday after a drop in applications for unemployment insurance boosted confidence in the economy and Disney's results overshot expectations.
News Corp reports lower revenue and profit
(Reuters) - News Corp reported on Thursday a 4 percent decline in quarterly revenue, citing challenges at its Australian newspaper properties.
LinkedIn 2014 revenue forecast misses Wall Street estimate
SAN FRANCISCO (Reuters) - LinkedIn Corp delivered a revenue forecast that fell short of Wall Street expectations, sending its stock down about 8 percent in after-hours trading on Thursday.
Jobs data improves, but weak exports may hurt growth
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy.
Airbus considers A380 revamp to lift sales: sources
SINGAPORE (Reuters) - Airbus is exploring fresh ways to improve sales of the world's largest passenger jet after receiving a potentially crucial signal of support from at least one of its engine makers, industry sources said.
GM's dismal profit may spur analysts to cut 2014 estimate
DETROIT (Reuters) - General Motors Co reported a disappointing fourth-quarter profit on Thursday, hurt by weaker-than-expected results in Asia and South America that may prompt analysts to ratchet down their profit forecasts for 2014 for the No. 1 U.S. automaker.
Big bets on Green Mountain ahead of Coke stake raise eyebrows
NEW YORK (Reuters) - A surge in bets that shares of Green Mountain Coffee Roasters would rise sharply by the end of the week has raised suspicions, coming as it did just hours before news of a partnership deal with Coca-Cola .
Aston Martin says no extra cost to expanded gas pedal recall
DETROIT (Reuters) - Aston Martin said on Thursday its expanded recall of accelerator pedals in 17,590 sports cars would not result in a material added cost beyond its previous estimate of 1.5 million British pounds($2.45 million).
Former head of Britain's SFO accused of running chaotic agency
LONDON (Reuters) - Richard Alderman, the former head of Britain's leading fraud prosecution authority, oversaw a chaotic agency that was unable to keep records and documents in order, a London court heard on Thursday.
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