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Wall Street slightly higher ... Is the Weinstein Co. up for sale? ... Justices to hear government’s email dispute with Microsoft

October 16, 2017

NEW YORK (AP) — U.S. stock indexes are slightly higher in early trading on Wall Street, while several stocks are moving on deal news. Restaurant chain Ruby Tuesday soared 19 percent in the first few minutes of trading today after announcing it had agreed to be taken private. Aramark, a food and uniform services company, rose 2.2 percent after announcing two acquisitions. At 10:21 a.m. Eastern Time, the S&P 500 was up 2 points at 2,555. The Dow was up 18 points, to 22,891. And the Nasdaq was up 15 points, to 6,621.

NEW YORK (AP) — The movie studio co-founded by Harvey Weinstein may be putting itself up for sale. The Weinstein Co. says it’s getting an immediate cash infusion from Colony Capital and is in negotiations for the potential sale of all or a significant portion of the movie studio responsible for films like “Shakespeare in Love,” and “Gangs of New York.” Weinstein was fired by the company last week following allegations of sexual harassment and assault that span decades. And the Academy of Motion Picture Arts and Sciences has revoked his membership.

FRANKFURT, Germany (AP) —The Supreme Court is intervening in a dispute between the Trump administration and Microsoft over emails stored abroad. The justices say that on Friday they’ll hear the administration’s appeal of a lower court ruling in favor of Microsoft. The lower court decided that emails sought in a drug trafficking investigation were beyond the reach of a search warrant because they were kept on a Microsoft server in Ireland.

WASHINGTON (AP) — The Supreme Court is taking up an appeal by 11 states that argue American Express violated antitrust laws by barring merchants from asking customers to use other credit cards that charge lower fees. The justices said today they would review a ruling by the federal appeals in New York that sided with American Express.

NEW YORK (AP) — Nordstrom is halting the search for a buyer, at least temporarily. The retailer says in a regulatory filing that several members of the Nordstrom family told the company’s special committee that they are suspending actively looking to close on a sale this year. The company will again be looking into a possible deal after the holiday season ends.

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