U.S. stocks turn higher as quarterly losses loom

Date: Mon, 31 Mar 2008 16:01:03 (GMT)

U.S. stocks turn higher as quarterly losses loom

U.S. stock indexes tilt slightly higher, starting off a week filled with
data that many believe will affirm the picture of recession, with
equities poised to close the quarter with their steepest losses in
nearly four years.

Schering-Plough, Merck shares take a hit over Vytorin study

BOSTON
Investors reacted harshly Monday to the release of additional details
from an unflattering study of cholesterol drug Vytorin, leaving shares
of Schering-Plough Corp. and Merck & Co. battered.

Tesco puts the brakes on U.S. expansion of Fresh & Easy

Britain's Tesco is halting for three months the expansion of its U.S.
operation Fresh & Easy, the food-retailing unit meant to carve out a
niche between convenience stores and the massive warehouse-style
retailers.

Pernod Ricard snaps up Absolut Vodka parent for $8.3 bln

Pernod Ricard SA is buying Sweden's Vin & Sprit AB, the owner of
Absolut Vodka, for 5.63 billion euros ($8.9 billion) in a move to catch
up to larger rival Diageo Plc.

Japan's March tankan survey to reveal deepening gloom

HONG KONG
An influential Bank of Japan survey is expected to show on Tuesday that
confidence among Japan's larger manufacturers deteriorated sharply in
the three months ending March 31 as a slowing U.S. economy, rising yen
and higher energy and food prices undermine business conditions.