|06:06 EDT||VIVHY, NOC, NGG, MAN, BA, LMT, ED, ARII, RHI, GD, UTL, BRK.A, NU||On the Fly: Periodicals Wrap-Up|
WALL STREET JOURNAL: The Dow Jones Industrial Average surged 308.41 points to 13,412.55, its best-ever start to a year. In percentage terms, the 2.35% gain was the best opening since 2009. But an undercurrent of caution remained as corporate executives and investors expressed disappointment about the reduced scope of the deal, which props open the door for further budget wrangling in coming months, the Wall Street Journal reports...As Americans use more gadgets,TVs and air conditioners than ever before, their electricity use is barely growing, posing a major challenge for the nation's utilities (NU, ED, NGG, UTL), the Wall Street Journal reports...REUTERS: Pentagon officials and weapons makers (LMT, NOC, GD, BA) warned that a longer-term fiscal solution is urgently needed to lift the uncertainty hanging over the U.S. defense sector, Reuters reports...France's antitrust watchdog opposed a proposal by Iliad and Vivendi (VIVHY) to merge their mobile telecoms units, according to BFM radio, Reuters reports...BLOOMBERG: Employment services companies (RHI, MAN) are attracting investors who are betting the U.S. labor market will keep up its steady pace of job creation, Bloomberg reports...Warren Buffett and Carl Icahn are reaping the benefits of growing demand for railroad tank cars to haul shale oil from beyond the reach of existing pipelines. Buffett’s (BRK.A) Union Tank Car Co. is working at full capacity and Icahn’s American Railcar Industries (ARII) has a backlog through 2014, Bloomberg reports.