The Ticker

S&P sets new record on good jobless news

U.S. stocks mostly rose yesterday, with the S&P 500 closing at yet another record on better-than-expected jobless claims data and the European Central Bank's move to keep rates unchanged.

Weekly applications for U.S. unemployment insurance fell to 323,000, the lowest in three months, a sign of strength in a labor market that has been hobbled by severe weather.

New orders for U.S. factory goods, however, fell more than expected in January; and shipments also slipped, adding to signs of a recent slowdown in manufacturing activity.

Yesterday's milestone closing at 1,877.03 marked the S&P 500's fourth record closing high over the past six sessions.

Shaw's parent co. buying Safeway

AB Acquisition, the parent company of Albertsons and Shaw's and Star Market, is acquiring all outstanding shares of Safeway.

Safeway, the second-largest U.S. mainstream grocery store operator, said the deal is valued at about $9.4 billion.

The deal creates a grocery network of more than 2,400 stores and 250,000 employees.

No store closures are expected, according to the company.

Disney interactive laying off 700

Disney is laying off 700 people from the interactive unit that makes video games and operates websites, about a quarter of the workforce in the division.

A Walt Disney Co. spokesman confirmed the layoffs yesterday.

The move narrows the company's focus on mobile and social games that use key Disney characters.

Some games that Disney acquired when it bought social gamemaker Playdom in 2010 for $563 million, such as "Sorority Life," will be discontinued.

It is also discontinuing onetime hits, such as music play-along game, "Tap Tap Revenge."

Today

 Labor Department releases employment data for February.

 Commerce Department releases international trade data for January.

 Federal Reserve releases consumer credit data for January.

THE SHUFFLE

New Albertsons Inc. announced that Jim Rice has been promoted to president of the Shaw's & Star Markets division based in West Bridgewater. Currently interim president of the company's Chicago-based Jewel-Osco division, Rice has more than three decades of experience in grocery retail.

Do you have a job announcement or promotion at your company? Send us the information along with a photo to bizsmart@bostonherald.com.

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