US FINANCIAL MARKET
- Microsoft looks to regain leadership in email with marketing blitz for launch of Outlook.com. All users of Microsoft’s Hotmail and other email services operating under different domains such as MSN.com will be automatically converted to Outlook.com by the summer, if they don’t voluntarily switch before then.
- Express Scripts earnings jumped almost 74 percent as more people used generic drugs and it continued to absorb Medco Health Solutions.
- Office Depot and OfficeMax are discussing a merger with a deal possible this week.
- Disneyland in Hong Kong has turned a profit for the first time since it opened in 2005.
US ECONOMY & POLITICS
- U.S. home-builder confidence in the market for single family homes eased slightly in February from last month’s seven-year high. The NAHB/Wells Fargo Housing Market index edged down to 46 this month from 47. A reading below 50 means more builders view market conditions as poor rather than favorable.
EUROPE & WORLD
- German investor confidence jumped more than economists forecast in February to the highest in almost three years. The ZEW institute’s index rose to 48.2 points from 31.5 in January.
TODAY in HISTORY
- Thomas Edison patented the gramophone (phonograph) (1878)
- President Franklin Roosevelt signed an executive order that resulted in the internment of thousands of Japanese-Americans living on the West Coast (1942)
- Britain, Turkey, and Greece signed the agreement granting Cyprus independence (1959)
- Mickey Mouse was welcomed to China as part of the 30th anniversary of Disneyland. The touring mouse played 30 cities in 30 days. Tough schedule even for a mouse! (1985)
- Cherry Coke was introduced by the Coca-Cola Company (1985)
- Fidel Castro resigned as President of Cuba after 49 years in power. Raúl Castro, Fidel’s brother, succeeded him as president (2008)
Sources: Reuters, Yahoo Finance, Google Finance, Bloomberg, CNN Money.
This information has been prepared from sources believed to be reliable, but no representation is being made as to its accuracy or completeness. The information provided should be used only as general information and is not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in the material may not develop as predicted. All indices, such as the S & P 500, are unmanaged and may not be invested into directly.