PRESS DIGEST - Wall Street Journal - April 22

April 22 Tue Apr 22, 2014 1:38am EDT

April 22 (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.

* Activist investor William Ackman and Valeant Pharmaceuticals International Inc are seeking to acquire Allergan Inc, according to a filing on Monday with the Securities and Exchange Commission. The deal, if successful, would create a behemoth in the global eye-care and skin-care drug industries. Each company has a stock-market capitalization of more than $40 billion. (r.reuters.com/was68v)

* Ford Motor Co Chief Executive Alan Mulally will leave the company earlier than expected after a more than seven-year run in which he oversaw a significant expansion of the U.S. automaker, people familiar with the matter said. Mulally's successor will be Mark Fields, a Ford veteran who survived management turmoil in the years before Mulally's 2006 arrival. (r.reuters.com/vas68v)

* Facebook Inc is planning a mobile-ad network that will allow the company to tap its vast reservoir of data about users to help marketers target ads on other services. The network, which has been in the works for years, is set to be announced at Facebook's F8 conference at the end of the month.(r.reuters.com/tas68v)

* A Texas group sued the Federal Aviation Administration in federal court to challenge the agency's order to stop using drones in the group's searches for missing people, the latest round in an intensifying battle over regulation of the sector. (r.reuters.com/xas68v)

* For years, equities had taken a back seat to the bigger and often more-profitable business of buying and selling fixed-income securities and commodities. But as those units are squeezed by new regulation and uncooperative markets, banks are putting more muscle behind catering to the trading needs of equity investors. (r.reuters.com/zas68v)

* Tuesday Morning Corp and its former chief executive settled a discrimination lawsuit that alleged she was fired after developing breast cancer. Kathleen Mason, the head of the home-furnishings closeout retailer, was ousted in June 2012 after a 12-year run during which the company's stock fell nearly 60 percent. (r.reuters.com/ces68v)

* U.S. wireless carriers are making unexpectedly fast progress moving their customers away from subsidized phones, a shift that could put further pressure on sales of expensive devices like Apple Inc's iPhone. (r.reuters.com/des68v)

* Netflix Inc will raise the price of its streaming service for new members by a dollar or two a month, it said on Monday. It also said that it now has more than 34 million paid subscribers in the U.S. (r.reuters.com/ges68v) (Compiled by Arnab Sen in Bangalore)

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