Fortis to Buy ITC Holdings for About $6.9 Billion -- Update 

U.S. electricity-transmission company ITC Holdings Corp. said Tuesday it plans to sell itself to Canadian utility operator Fortis Inc. for about $6.9 billion in cash and stock. (published 2304 GMT Tuesday)

 
 
Commonwealth Bank Notches Up Record Profit -- Update 

Commonwealth Bank of Australia Ltd., the country's largest company by market value, posted a record first-half profit and said its balance sheet remained strong despite a sluggish economy as a long mining boom fades. (published 2321 GMT Tuesday)

 
 
Anadarko Slashes Dividend By 81% -- 2nd Update 

Anadarko Petroleum Corp. slashed its quarterly dividend by 81% to five cents, the latest company to cut payouts to stockholders amid an oil rut. (published 2325 GMT Tuesday)

 
 
Canadian Pacific Abandons Threat of Proxy Fight for Norfolk Southern -- Update 

Canadian Pacific Railway Ltd. backed away from a threatened proxy battle to unseat Norfolk Southern Corp. directors, opting to enlist the Virginia rail operator's shareholders to press the board for friendly merger talks. (published 2336 GMT Tuesday)

 
 
Disney Earnings Surge on 'Star Wars'; Shares Fall on ESPN--4th Update 

It was the quarter during which Walt Disney Co. released a movie that grossed $2 billion at the box office and drove $3 billion in merchandise sales. But the biggest story for the company that successfully revived "Star Wars" continues to be subscriber trends at its ESPN cable network. (published 0039 GMT)

 
 
Akamai, Seeing Big Clients Spend Less on Its Network, Unveils Reorganization 

Akamai Technologies Inc.'s security business enjoyed a jolt of new business from besieged websites last year, even as its big Silicon Valley customers spent less money on its network. (published 0032 GMT)

 
 
Viacom CEO Defends His Leadership -- 2nd Update 

Viacom Inc. Chief Executive Philippe Dauman fiercely defended his leadership as the media company on Tuesday reported quarterly results that stoked investor concerns and sent its shares tumbling. (published 0026 GMT)

 
 
America Movil's Net Profit Jumps on Lower Costs 

América Móvil's net profit surged in the fourth quarter as the Mexican telecommunications company lowered its financial costs on smaller foreign-exchange losses. (published 0004 GMT)

 
 
Burberry Sues J.C. Penney Over Alleged Knockoffs 

Burberry Group PLC accused J.C. Penney Co. in a lawsuit Tuesday of infringing on its famous "check" pattern by selling exact copies of its designs. (published 2336 GMT Tuesday)

 
 
Canada's Algonquin to Buy Empire District Electric for $2.4 Billion -- Update 

Canada's Algonquin Power & Utilities Corp. has struck a $2.4 billion cash deal to buy Empire District Electric Co. (published 2332 GMT Tuesday)

 
 
OTG EXP Delays IPO, Citing Unfavorable Market Conditions 

Airport-concessions operator OTG EXP Inc. postponed its planned initial public offering Tuesday, citing unfavorable stock-market conditions. (published 2326 GMT Tuesday)

 
 
Morgan Stanley Trading Executive Provides Grim Picture for Wall Street--Update 

Morgan Stanley's top trading executive warned that the first quarter was shaping up to be another tough one for Wall Street, as volatile markets take a toll on investors' desire to buy and sell with banks. (published 2311 GMT Tuesday)

(END) Dow Jones Newswires

February 09, 2016 20:00 ET (01:00 GMT)