November 5, 2013 / 6:03 AM / in 4 years

PRESS DIGEST - Wall Street Journal - Nov 5

Nov 5 (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.

* SolarCity said Monday that it intends to privately place $54 million of securities backed by a pool of solar-power systems, leases and electricity contracts. ()

* Investment in the medical-device and equipment industry is on pace to fall to $2.14 billion this year, down more than 40 percent from 2007 and the sharpest drop among the top five industry recipients of venture funding, according to an analysis of data compiled by PricewaterhouseCoopers and the National Venture Capital Association. ()

* Twitter Inc, riding a wave of strong demand for initial public offerings, sharply increased the price range of its shares three days before its stock is expected to begin trading. San Francisco-based Twitter increased its proposed share-price range to between $23 and $25 a share, up from between $17 and $20 a share. ()

* Tencent Holdings Ltd is vying to lead a $200 million fundraising in Snapchat, the latest effort by one of China’s Internet giants to gain a foothold in the United States. ()

* BlackBerry has abandoned a plan to sell itself and instead will sell $1 billion of convertible debt to its major shareholder and other investors, and said it would replace CEO Thorsten Heins. ()

* Kellogg plans to cut its workforce by 7 percent as part of a four-year cost-cutting campaign, as the cereal maker posted higher earnings on flat sales. ()

* Allen Edmonds Corp, a maker of high-end men’s shoes that generated some takeover interest from Men’s Wearhouse Inc , itself a takeover target, has revealed it has agreed to be sold to another buyer. ()

* U.S. Attorney General Eric Holder said the government is willing to settle its antitrust lawsuit against the merger of AMR and US Airways if the airlines agree to broad concessions. ()

* Network-gear maker Alcatel-Lucent said Monday that it plans to raise about $2.7 billion to cut its debt and finance its turnaround plan, taking advantage of a rebound in shares to unveil a capital increase. ()

* TRI Pointe Homes has clinched a $2.7 billion deal to merge with timber conglomerate Weyerhaeuser’s home-building division. ()

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