Stocks Ended with Slight Gains

U.S. stocks ended with mild gains on Wednesday, capping a day of wavering mostly lower after a news report that Greek had a draft plan that includes a 20% cut in its minimum wage. The Dow Jones Industrial Average added 5.75 points to 12,883.95. The S&P 500 Index rose 2.91 points to 1,349.96. The Nasdaq Composite advanced 11.78 points to 2,915.86.

A draft of Greece’s bailout program being discussed by the country’s political leaders at a Wednesday meeting includes fiscal measures worth 13 billion euros for the period through 2015, a party official and a source close to the talks said.

Groupon Inc reported a quarterly net loss Wednesday as the largest daily deal company recorded higher taxes overseas. Groupon said its fourth-quarter net loss attributable to common stockholders was $42.7 million, or 8 cents a share. That compares to a loss of $378.6 million, or $1.08 a share, a year earlier.

Network equipment maker Systems Inc said second quarter earnings and revenue beat average estimates, leading it to increase its dividend. Revenue rose 10.6 percent from the year-ago quarter to $11.5 billion. Analysts on average were expecting $11.23 billion. Net income grew to $2.2 billion, or 40 cents per share, from $1.5 billion, or $27 per share, a year earlier.

Treasury prices slipped Wednesday, pushing 30-year yields to their highest point since October. Thirty-year yields pared an earlier rise to sit little changed at 3.15%, after touching their highest level since late October.

Germany’s Deutsche Bank (DBKGn.DE) will defer any part of an employee’s bonus above 200,000 euros ($264,800) this year, a source close to the bank said, making it the latest industry player to limit pay in the face of fierce criticism of the industry.






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