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Mixed start for stocks...Four beat expectations...Activist investor joining Mondelez board

Tuesday - 1/21/2014, 11:40am  ET

NEW YORK (AP) -- Stocks are mixed in early trading. The Dow jumped more than 60 points in the opening minutes, but then fell into negative territory. It was down about 35 points after the first hour of trading. The broader indexes remain in positive territory.

NEW YORK (AP) -- Four major U.S. corporations are reporting fourth quarter financial results that beat Wall Street expectations. Halliburton's fourth-quarter profit rose 19 percent as did Johnson & Johnson's. An increase in fares and passengers boosted Delta Airlines' profit, while Verizon saw growth in both its wireless and landline services as it turned a profit of more than $5 billion for the quarter.

NEW YORK (AP) -- Mondelez (mahn-duh-LEEZ') International has given activist investor Nelson Peltz a seat on its board. Peltz has criticized the company's performance since it split from Kraft Foods in October of 2012. He has also called for PepsiCo to spin off its drinks business and merge its Frito-Lay food business with Mondelez to create a snacking giant. Mondelez makes Oreo and Chips Ahoy cookies, Cadbury chocolates, Trident gum and Ritz crackers.

WASHINGTON (AP) -- The International Monetary Fund's forecasts for the U.S. and global economies are improving. In an updated outlook, IMF projects the U.S. economy will grow 2.8 percent this year. That compares with an estimate of less than 2 percent growth in 2013. Meanwhile, the IMF projects the world economy will grow 3.7 percent in 2014, up from about 3 percent. The IMF says the global economy picked up in the second half of 2013 and it expects that momentum to carry over.

BRUSSELS (AP) -- The European Union says it is suspending a part of the free trade negotiations with the United States. The EU trade chief says it needs three months for public consultation on proposed investment rules. Non-governmental organizations and some officials have voiced unease over what they say are loopholes in the rules that might expose governments to lawsuits by multinational firms.


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