5-year high
US markets reached their highest closes since 2007. The Dow Jones industrial average rose 0.3 percent to 14018.70, while the Standard & Poor’s 500 index gained 0.2 percent to 1,519.43.
Open SAC
Steven Cohen’s SAC Capital Management is opening its $14 billion main hedge fund to new investments after almost two years as the Feb. 14 deadline for clients to redeem approaches, a person familiar with the matter said.
JCP’s credit
JCPenney amended its bank credit facility to boost its borrowing capacity to $1.85 billion from $1.5 billion.
Barc-layoffs
Scandal-plagued Barclays PLC presented a three-year strategy that will see it cut 3,700 jobs and rein in some of ex-CEO Robert Diamond’s boldest expansion plans.
S&P swings
McGraw-Hill, accused by the US of misleading investors about the risks of mortgage bonds, posted the highest sales at its Standard & Poor’s unit since 2010 and a net loss of $216 million because of the sale of a unit. It also said it doesn’t believe the government has a case.