PRESS DIGEST - Wall Street Journal - Nov 4
Nov 4 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* BlackBerry's future may become clearer as soon as Monday when a tentative agreement from Fairfax Financial to take the company private for $4.7 billion is scheduled to be firmed up. Other bids are possible. ()
* Investors are stampeding into initial public offerings at the fastest clip since the financial crisis, fueling a frenzy in the shares of newly listed companies that echoes the technology-stock craze of the late 1990s. ()
* SAC and federal prosecutors in Manhattan are expected to announce a record insider-trading settlement Monday. Under the deal, the firm run by Steven Cohen is expected to agree to pay about $1.2 billion in criminal penalties, plead guilty to an indictment obtained in July by prosecutors alleging the firm encouraged rampant insider trading, and stop managing outside money. ()
* The Obama administration ruled that drugmakers can help pay prescription-drug costs for patients on health-care exchanges. Pharmacy-benefit managers object, preferring generic drugs. () Continued...