Windstream Holdings jumped 12.8 percent to $11.88 in its busiest trading day on record after the company filed to spin off assets into a tax-efficient publicly-traded real estate investment trust. Merck's new drugs offset declining sales of ones facing generic competition and Pfizer was helped by growing sales of its cancer medicines.
By Anna Yukhananov WASHINGTON (Reuters) - Sharply higher interest rates around the world could combine with weaker growth in emerging markets to slice as much as 2 percentage points off global growth in the next five years, the International Monetary Fund said on Tuesday. In a report assessing how individual national policies could interact to undermine the world economy, the IMF also warned the conflict between Russia and Ukraine could reverberate to the rest of the region if sanctions against Russia escalate, hitting natural gas supplies to Europe and weakening European banks. The resulting impact could prompt further gyrations in financial markets, in contrast to the recent period of market calm, the IMF said in its 'spillovers' report. In its worst-case scenario, the IMF said the United States and United Kingdom could tighten monetary policy sooner than expected, leading to higher borrowing costs worldwide, even as key emerging market growth slows a further 0.5 percentage point over the next three years.
By Chuck Mikolajczak NEW YORK (Reuters) - U.S. single-family home prices fell unexpectedly in May, declining for the first time in more than two years in the latest signal of the wobbly state of the housing market. Still, U.S. consumers remained confident in the broader economic picture, with a key measure of consumer attitudes at its highest since October 2007 and views of the job market the brightest in six years.
By Ryan Vlastelica NEW YORK (Reuters) - With some of Wall Street's more volatile names set to report in the next couple of days, traders who bet on big swings in shares are hoping to see moves more like Facebook than Netflix. Netflix, along with Gilead Sciences and several other stocks famous for their sharp gyrations, were unusually calm following their latest quarterly reports.
(Reuters) - JPMorgan Chase & Co , the biggest U.S. bank by assets, is slashing its technology support workforce in corporate and investment banking division following a revenue dip, Bloomberg News reported, citing people familiar with the matter. JPMorgan spokesman, Brian Marchiony, declined to comment on the report.