Bloomberg:
- President Bush said he’s “pleased” with an agreement that requires North Korea to dismantle its nuclear program in exchange for energy assistance and his spokesman said the pact differs from a failed 1994 accord because it involves other nations in the region.
- Applebee’s Intl.(APPB) said it may sell the company after its third-biggest shareholder criticized management for failing to boost sales and cut costs.
- KB Home(KBH) reported a quarterly loss that was less than analysts’ estimates. KB said quarter-to-date cancellations were more normal and that is modestly good news. The stock is rising 3% on the report.
- CVS Corp.(CVS) raised its offer for Caremark Rx Inc(CMX) to $25.7 billion to stave off a hostile bid for the benefits manager from Express Scripts(ESRX).
- General Motors(GM) was upgraded at Merrill Lynch(MER) on optimism that an expected $17 billion pension surplus boosted prospects for a favorable labor agreement this year.
- Ceridian Corp.(CEN) hired advisors to help consider alternatives to boost its value for shareholders.
- France faces an “alarming” terrorist threat ahead of the presidential election this year, said Jean-Louis Bruguiere, the country’s leading anti-terrorist investigator.
- Ample rainfall will help boost soybean yield by 14% in Brazil, the world’s biggest grower of the oilseed after the US, according to an agricultural analyst at the Univ. of Sao Paulo.
- Crude oil is rising $1/bbl. after an IEA report said global demand growth for oil will reverse its recent downward trend.
Wall Street Journal:
- Bank of America(BAC) has started offering credit cards to customers without US Social Security numbers or a credit history, who are typically illegal immigrants.
- Crocs(CROX), which makes the colored plastic clogs that became fashionable last summer, plans to diversify into clothes and women’s fashion footwear, to avoid the danger of being a one-hit wonder.
- Jewelry made from palladium, a rare silver-white metal of the platinum group, is increasing in popularity, compared with the more expensive platinum, citing jewelry makers.
NY Times:
- US governors and state legislators are taking action to reduce the increasing number of people without health insurance, now at 47 million, by tapping into the Fed budget, while President Bush’s latest plans present an obstacle.
Washington Post:
- A blogger who worked on Democrat John Edwards’ presidential campaign resigned over complaints that her writings were anti-Catholic. Edwards chose not to fire Amanda Marcotte or Melissa McEwan last week after Bill Donohoe, president of the Catholic League for Religious and Civil Rights, criticized his campaign for hiring “two anti-Catholic vulgar trash-talking bigots.” McEwan is still working for Edwards.
USA Today:
- Fatal overdoses in the US involving the pain killer methadone rose faster from 1999 to 2004 than for any other narcotic, citing a National Center for Health Statistics study.
AP:
- Air America, the liberal talk radio station, was given bankruptcy court approval to sell its assets at an auction on Feb. 16, starting with a $4.25 million bid from a group of purchasers formed by the chairman of SL Green Realty(SLG).
Reuters:
- BHP Billiton(BHP) denied a report in The Times of London that it plans to bid for Alcoa Inc.(AA).
NY Post:
- Firefighters and paramedics are among thousands of World Trade Center rescue workers who will get free prescription medicines, citing NYC Fire Dept. officials.
El Watan:
- OPEC wants to keep crude oil prices between $50 and $60/bbl. OPEC will meet March 15 at its Vienna headquarters to discuss second-quarter production.
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