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Small company stocks take limelight as Russell 2000 index climbs above 1,000 for first time

The Canadian PressMay 20, 2013 23:00
NEW YORK, N.Y. - Small-company stocks were a bright spot in a slow and choppy start to the week for Wall Street. The Russell 2000, an index of small-company stocks, climbed above 1,000 points for the first time and ended higher Monday, even as the Dow Jones industrial average, the Standard Small stocks are doing well because they are more focused on the U.S., which is recovering, and are less exposed to recession-plagued Europe than the large international companies that make up the Dow and the S

Column: Two ways to pick your summer stock retreat

May 20, 2013 21:46
By John Wasik CHICAGO (Reuters) - It used to be easy to abide by the old Wall Street nugget that you should pull out of the market in spring and come back in the fall. But research shows that it doesn't make sense to completely abandon the stock market during the summer months, particularly when it comes to individual sectors. Not all of them will decline. There are several ways to seize gains if you want to make some portfolio adjustments. Here are two approaches. GO DEFENSIVE

JPMorgan, under pressure, gives polling information to investors

May 20, 2013 19:30
By Karen Freifeld and David Henry (Reuters) - JPMorgan Chase & Co <JPM.N>, under pressure from the New York Attorney General's office, has agreed to give investors information about upcoming ballot votes, after the company that collects votes on the measures stopped giving out polling information last week.

Trade group SIFMA names ex-Senator Gregg as CEO

May 20, 2013 19:30
By Jed Horowitz NEW YORK (Reuters) - SIFMA, the securities industry's largest trade group, named former Senator Judd Gregg as chief executive officer, in a move that may signal a desire to mend fences with ordinary Americans and Congress. The Securities Industry and Financial Markets Association had been expected to give the post to interim chief executive and president Kenneth Bentsen, a veteran lobbyist, said a person close to the group.

Rockwood pigments businesses attract private equity bids: sources

May 20, 2013 18:45
By Michael Erman and Greg Roumeliotis NEW YORK (Reuters) - Specialty chemicals producer Rockwood Holdings Inc's <ROC.N> pigments businesses have attracted offers from buyout firms including Blackstone Group LP <BX.N> and Advent International Corp, several people familiar with the matter said.

Morgan Stanley sued in 'pay-to-play' retirement plan case

May 20, 2013 15:30
(Reuters) - Morgan Stanley <MS.N> has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. Inc <VOYA.N> and others in exchange for extra fees in an illegal "pay-to-play" scheme. Skin Pathology Associates Inc. filed suit in federal court in Manhattan on May 16, accusing Morgan Stanley of violating federal laws governing retirement plans through its dealings with co-defendant ING Life Insurance and Annuity Co and other 401(k) service providers.

Blackstone, company leaders bid to take Chinese tech company Pactera private in $680M deal

The Canadian PressMay 20, 2013 14:01
Private equity firm Blackstone Group LP, along with Pactera's CEO and other managers, have offered to take Pactera private in a deal that values the Chinese technology consulting and outsourcing firm at $680.4 million. Shares rose 31 per cent Monday. Through Friday's close, before news of the offer, Pactera's stock had lost about two-thirds of its value over the past year.

Ex-Goldman banker Thornton steps down from HSBC board

May 20, 2013 10:46
LONDON (Reuters) - John Thornton, the former Goldman Sachs <GS.N> president who specializes in Chinese affairs, is stepping down from the board of HSBC <HSBA.L> to spend more time on his other business interests, Europe's biggest bank said on Monday. Thornton, who heads HSBC's remuneration committee, will not seek re-election to the bank's board at its annual shareholder meeting on Friday in view of "recent expanded responsibilities within his other business interests," HSBC said.

Dell says cannot disclose more information to Icahn yet

May 20, 2013 08:01
(Reuters) - Dell Inc said in a letter to suitors Carl Icahn and Southeastern Asset Management that the company would not provide more information about itself unless the board determined that their proposal was "superior" to founder Michael Dell's. Earlier this month, Icahn and Southeastern offered $12 in cash per share or additional shares to existing investors as an alternative to Michael Dell's $24.4 billion bid to take the company private.

Gulf wealth funds raising private equity investments: study

May 20, 2013 07:31
By Dinesh Nair DUBAI (Reuters) - Sovereign wealth funds in the Gulf Arab region are raising their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco <IVZ.N> says in a new study. "Contrary to popular perceptions these vast state funds are not piling into global property and global infrastructure projects," Nick Tolchard, head of Invesco Middle East said.
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