U.S. stocks fell, after the Standard & Poor’s 500 Index rose to within one point of a record close, as the International Monetary Fund warned of risks to global growth and Federal Reserve indicated stimulus cuts will likely continue.
U.S. stocks fell with Treasuries while the dollar gained as Federal Reserve meeting minutes indicated stimulus cuts would likely continue in measured steps and the International Monetary Fund warned of risks to global growth. Ukraine’s bonds tumbled while U.S. natural gas jumped.
Corporate directors, who for years often dismissed activist investors as quick-profit seeking gadflys, are starting to listen when opinionated shareholders like Carl Icahn, Nelson Peltz and Mason Morfit come calling.
Billionaire Daniel Loeb wants Dow Chemical Co. to spin off its petrochemicals unit, expects T- Mobile US Inc. to merge with Sprint Corp., and thinks the U.S. Government will exit Ally Financial Inc. in an initial public offering.
Third Point LLC, the hedge fund founded by activist investor Daniel Loeb, bought a stake in wireless carrier T-Mobile US Inc., betting that the company could be acquired by Sprint Corp. or Dish Network Corp.
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.
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.