RSS Feeds

Stocks open higher...Factory orders rise with aircraft demand...BlackBerry abandons sale plans

Monday - 11/4/2013, 11:50am  ET

NEW YORK (AP) -- Stock indexes are inching higher in early trading on Wall Street as more companies report higher earnings. Kellogg and Sysco, a food distributor, rose after their earnings beat analysts' estimates. BlackBerry plunged after the struggling company abandoned its sale process and replaced its chief executive. Investors are looking ahead to the public offering of Twitter on Thursday and the Labor Department's employment survey on Friday.

WASHINGTON (AP) -- The Commerce Department says orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But orders that signal business confidence in the economy fell. Factory orders increased 1.7 percent, driven by a 57.7 percent jump in demand for aircraft. But so-called core capital goods, which include machinery and electronics and are good measure of business investment plans, fell 1.3 percent. That's the second drop in the past three months.

TORONTO (AP) -- BlackBerry is abandoning its sale process, and will replace its chief executive. Its largest shareholder, Fairfax, said today it won't buy the entire company but it and other investors will inject $1 billion as part of a revised investment proposal. BlackBerry says its CEO, Thorsten Heins, is stepping down. Fairfax head Prem Watsa will be appointed lead director of the board.

NEW YORK (AP) -- Twitter's IPO could now raise more than $2 billion. Twitter Inc. says in a regulatory filing that it now plans to price its shares at between $23 and $25 each. It previously planned to sell the shares for between $17 and $20 each. Twitter still plans to sell 70 million shares.

NEW YORK (AP) -- A federal prosecutor in New York says a proposed resolution has been reached in the insider trading case against hedge fund giant SAC Capital Advisors. A news conference is planned today in Manhattan. The case involves criminal charges filed in July against SAC Capital and related companies. In a separate case, SAC previously agreed to pay $615 million penalty to settle an insider trading claim by the Securities and Exchange Commission.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.