Red Hat, GM and US Bancorp jump while First Data skids
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Red Hat Inc., up $52.95 to $169.63
The open source software company agreed to be acquired by IBM for $34 billion in stock.
General Motors Co., up 48 cents to $33.13
Bloomberg News reported that regulators in China proposed cutting the country's tax on imported cars.
Anadarko Petroleum Corp., down $2.97 to $55.87
The stocks of energy companies stumbled as energy prices fell.
The Latest: Warren Buffett’s letter leaves some wanting more
OMAHA, Neb. (AP) — The Latest on investor Warren Buffett's annual letter to Berkshire Hathaway shareholders (all times local):
Warren Buffett's annual letter to Berkshire Hathaway shareholders is always well read in the business world, but this year's edition may leave some investors wanting more.
Buffett recounted Berkshire's performance in his letter that was released Saturday morning and some noteworthy topics didn't get much attention.
Feds fine U.S. Bancorp $613 million for money-laundering violations
WASHINGTON-Minneapolis-based US Bancorp has agreed to pay the federal government $613 million to settle criminal charges that it did not guard against money laundering in its business.
The U.S. Justice Department said US Bancorp “willfully” failed to maintain adequate safeguards against money laundering, leading the bank to miss suspicious transactions for a five-year period from 2009-2014.
As companies give bonuses, prospect of pay gains still hazy
WASHINGTON (AP) — American Airlines is handing out $1,000 bonuses to its employees. So are AT&T, Bank of America and Nationwide Insurance. The same for Comcast, JetBlue Airways and US Bancorp.
DowDuPont and US Bancorp climb while Cooper Cos. slides
NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday:
DowDuPont Inc., up $1.67 to $68.52
The chemicals company changed some details of its breakup plan after pressure from activist investors.
U.S. Bancorp, up 69 cents to $51.57
Banks rose along with bond yields and interest rates.
Cooper Cos., down $3.36 to $250.03
The surgical products and contact lens maker will buy Teva's Paragard intrauterine device for $1.1 billion.
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