U.S. stocks fell a fourth day, the longest slump in 10 weeks for the Standard & Poor’s 500 Index, as investors weighed economic data for clues on the timing of Federal Reserve stimulus cuts amid optimism over a budget deal.
U.S. Treasury yields rose to an 11- week high and stocks fell a fourth day as signs of economic growth fueled concern the Federal Reserve will scale back bond buying. Copper, gold and crude oil led commodities higher.
CF Industries Holdings Inc., the fertilizer producer that’s been criticized by activist hedge fund Third Point LLC for its dividend payments, jumped the most in four months after saying it’s considering a master-limited partnership.
CF Industries Holdings Inc., the largest U.S. producer of nitrogen fertilizer, was sued by the City of West, Texas, for more than $1 million in damages caused by the explosion of a local plant it supplied.
CF Industries Holdings Inc., the fertilizer producer that’s been criticized by activist hedge fund Third Point LLC over its dividend payments, said W. Anthony Will will succeed Chief Executive Officer Stephen Wilson as of Jan. 1.
Activist Daniel Loeb’s Third Point LLC took a stake in Nokia Oyj in anticipation of dividends after a division sale to Microsoft Corp., adding pressure on the telecommunications-gear maker to disclose plans for its cash.