Stocks Advanced on Nuclear Agreement With Iran

U.S. stocks opened higher on Monday, with the Nasdaq Composite topping 4,000, as a deal with Iran
boosted investors’ appetite for risk and weighed on oil prices. The Dow Jones Industrial Average
lately was off 5.97 points, or 0.04%, to 16,058.80. The S&P 500 was last up 1.55 points, or 0.09%,
to 1,806.31. The Nasdaq Composite was up 10.22 points, or 0.26%, to 4,001.87.

A deal between the U.S. (and other world powers) and Iran. Iran agreed to stop producing near-
weapons grade uranium in exchange for a reduction of some sanctions on oil, auto parts, gold and
precious metals.

Wal-Mart Stores has announced that its CEO and president Mike Duke is stepping down effective Feb.
1 and that the company’s board has elected Doug McMillon, head of international operations, to
succeed him.

BlackBerry Ltd on Monday announced a management shake-up that includes the departure of three top
executives, in a widely expected follow to this month’s naming of a new chief executive. The
company said Kristian Tear, its chief operating officer, and Frank Boulben, its chief marketing
officer, will leave the company and James Yersh will replace Brian Bidulka as its chief financial
officer.

Italian automaker Fiat says it won’t launch an initial public offering for Chrysler before the end
of this year.