Android app on Google Play

Market Wrap: S&P Under Fire; Super Bowl Racks-Up Ratings; SUPERVALU's New Chief

February 4, 2013 5:28 PM EST Send to a Friend
Market wrap-up for February 4th

End of the Day: S&P 500 down 129.7 to 13,880.08; Dow Jones down 17.5 to 1,495.71; Nasdaq down 47.9 to 3,131.17

The following is a brief summary of events moving markets today:

* Oracle (Nasdaq: ORCL) announced that it has entered into an agreement to acquire Acme Packet (Nasdaq: APKT), the leading global provider of session border control technology for $29.25 per share or approximately $1.7 billion, net of Acme Packet's cash. For more on the deal, click here.

The tech sector was also on the move following the news. Click here for more color.

* The U.S. is taking action against McGraw-Hill's (NYSE: MHP) S&P Rating Services unit, according to reports Monday. The company said the U.S. Department of Justice intends to file a civil lawsuit against S&P focusing on its ratings in 2007 of certain U.S. collateralized debt obligations. For the official statement, click here.

* CBS (NYSE: CBS) said Super Bowl XLVII was watched by a Nielsen estimated average of 108.41 million viewers, making it the third most-watched program in television history (Super Bowl XLVI - 111.3 million; Super Bowl XLV - 111.0 million). Click here for more color on the data.

* Herbalife (NYSE: HLF) was hit again today following early reports that the U.S. FTC might be opening a probe into the company's practices. Herbalife issed a response later in the session, saying it was unaware of any federal action other than regular dialogue.

* Data out of the U.S. Commerce Department showed a 1.8 percent increase in orders for manufactured goods to $484.8 billion in December, versus Street expectations calling for a 2.2 percent gain. Leading the way were defense-capital-goods orders, which rose 110.3 percent for the month.

* Yum! Brands (NYSE: YUM) reported fourth-quarter results today. EPS of 83 cents and revs of $4.15 billion beat consensus views, though guidance gave investors a little worry. For more color, click here.

* SUPERVALU INC. (NYSE: SVU) appointed Sam K. Duncan as President and Chief Executive Officer of SUPERVALU, effective February 4, 2012. Duncan, 61, most recently served from 2005 to 2011 as Chairman, CEO & President of OfficeMax (NYSE: OMX).

Click here to go to Streetinsider's Full News Feed and never miss a beat!




You May Also Be Interested In


Related Categories

Special Reports

Related Entities

Standard & Poor's, Earnings

Add Your Comment