NEW YORK -- UBS (UBS) is close to an agreement to pay more than $1 billion to resolve allegations the Swiss bank tried to rig interest-rate benchmarks -- including the London interbank offered rate -- to boost trading profits, The Wall Street Journal reported, citing people briefed on the negotiations.
A settlement could be announced as early next week, the people told the newspaper.
Adobe Systems (ADBE), the software maker, posted fiscal fourth-quarter results on Thursday that topped analysts' expectations.The maker of Photoshop earned 61 cents a share on an adjusted basis in the quarter; analysts were looking for profit of 56 cents. Adobe said fourth-quarter revenue was $1.153 billion, up from $1.152 billion a year earlier; Wall Street was expecting revenue of $1.1 billion. Sprint's Clearwire Offer Raises New Spending Questions
VeriFone Systems (PAY) issued a forecast Thursday for the first quarter that was below Wall Street estimates. The electronic-payments company said it expects first-quarter adjusted earnings of 70 cents to 73 cents a share on revenue of $490 million to $500 million. Analysts are calling for first-quarter earnings of 75 cents a share on revenue of $498 million. Google's Page Dreams of a Bigger Internet of Things
AkzoNobel, the Dutch chemicals company, reached a deal to sell its North American decorative paints operations to PPG Industries (PPG) for $1.1 billion. AkzoNobel's North American business sells the Glidden paint brand. General Electric's Immelt Still Talks Like An Outsourcer
Retailer Quiksilver (ZQK) posted fiscal fourth-quarter results that were weaker than analysts' estimates.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV