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Burger King parent buys Popeyes for $1.8 billion in cash, a 27% premium
Macy's gains premarket as EPS beat, sales miss, leadership shift detailed
Verizon, Yahoo to cut merger price by as much as $350 mln: WSJ
Wal-Mart stock gains premarket as earnings beat, guidance straddles forecast
U.S.-listed Unilever down 8% premarket, Kraft Heinz off 4% after bid dropped
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The Dow briefly rose to within 15 points of 20,000, a level it has never reached, but relinquished that gain and spent most of the session at a loss. U.S. stocks have rallied since the Nov. 8 election, with the Dow up 9 percent and the S&P 500 gaining 6 percent on bets that President-elect Donald Trump's plans for deregulation and infrastructure spending will boost the economy. Some investors worry that the so-called Trump rally has made stocks expensive and are concerned that legislators may resist strong tax cuts and other policies that could widen the federal deficit.
U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in mortgage rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
SAN FRANCISCO/NEW YORK (Reuters) - Longtime Viacom Inc (VIAB.O) executive Doug Herzog, who oversees the networks Comedy Central and MTV, is leaving the company next month, according to a memo to employees sent Wednesday from chief executive Bob Bakish. Herzog, a 25-year veteran at Viacom known for helping develop such MTV hits as "The Real World" and Comedy Central's "The Daily Show," is leaving as part of a restructuring following the appointment of Bob Bakish as chief executive officer earlier this month, sources told Reuters.
BELGRADE/HELSINKI (Reuters) - Nokia Corp (NOKIA.HE) said on Wednesday it had filed a number of lawsuits against Apple Inc (AAPL.O) for violating 32 technology patents, striking back at the iPhone maker's legal action targeting the one-time cellphone industry leader a day earlier. "Since agreeing a license covering some patents from the Nokia Technologies portfolio in 2011, Apple has declined subsequent offers made by Nokia to license other of its patented inventions which are used by many of Apple's products," Nokia said in a statement.
U.S. President-elect Donald Trump's transition team is considering the use of discretionary trusts to avoid conflicts of interest for Trump family members or administration officials, Politico reported on Wednesday. Such an arrangement would provide individuals with an alternative to selling off assets or placing wealth in blind trusts, which president-elects traditionally do. Trump aides have discussed the idea of discretionary trusts with the Office of Government Ethics (OGE), but it was unclear whether the set-up would be for Trump, his family or any of the wealthy individuals nominated to his Cabinet, according to Politico, which cited two unidentified sources briefed on the talks.
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