Stocks Jumped, Notching Weekly Gains

U.S. stocks finished sharply higher on Friday, posting weekly gains, as investors assessed earnings reports. The Dow Jones Industrial Average added 123.37 points, or 0.73%, to 17,100.18. The S&P 500 rose 20.10 points, or 1.03%, to 1,978.22. The Nasdaq Composite jumped 68.70 points, or 1.57%, to 4,432.15.

After 97 years of family ownership, Forbes Media has announced it has sold a majority stake in the company to a Hong Kong-based group of international investors.

Shire’s chief executive is to receive a $10m “golden hello” after agreeing to remain with the drugmaker after its £32bn takeover by US pharmaceuticals group AbbVie.

General Electric (GE) could raise over $3 billion from the spin-off of its North American retail finance unit, filings with the Securities and Exchange Commission showed today.