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UPDATE 2-Akamai beats revenue estimates; unveils $1 bln share buyback plan

*Q4 rev $579.2 mln vs est. EPS 72 cents vs est. Feb 9- Online content distributor Akamai Technologies Inc reported better-than-expected quarterly revenue, helped by higher demand for its security services, and announced a $1 billion share buyback program.
Source: Reuters | By: Kshitiz Goliya
UPDATE 1-Akamai revenue beats; to buy back $1 bln of shares

Shares of Akamai, whose customers include EMC Corp, MTV Networks and Autodesk Inc, rose 9 percent to $44.66 in after hours trading on Tuesday. Net income fell to $88.4 million, or 49 cents per share, in the fourth quarter ended Dec. 31 from $97.1 million, or 54 cents per share, a year earlier. Revenue rose to $579.2 million from $536.3 million, above average analyst...
Source: Reuters
Calpers buys New York office tower for $1.9 bln - Sacramento Bee

Feb 9- Calpers has purchased a New York office tower for $1.9 billion, in one of the biggest real estate investments in its history, the Sacramento Bee newspaper reported on Tuesday. Calpers confirmed to Reuters that it had purchased 787 Seventh Avenue in midtown Manhattan but did not disclose the purchase price. The purchase of the 50- story AXA Equitable Center...
Source: Reuters
ADVISORY-Slug change for item "Pentagon's proposed $582.7 bln budget for 2017 under fire from Republicans"

Media clients please note that the story slug for the Feb 9 item USA- OBAMA/BUDGET-DEFENSE that moved at 1103 EST/ 1603 GMT has been changed to OBAMA-BUDGET/DEFENSE.
Source: Reuters
UPDATE 2-Fertilizer maker Agrium's forecast disappoints, shares fall

*Sees 2016 profit outlook $5.50- $7.00/ shr vs est $7.01/ shr. *Posts profit $1.52/ shr vs est of $1.38/ shr. The company, which sells seed, fertilizers and chemicals directly to farmers in North America, said it expects to earn $5.50- $7.00 per share in 2016, slightly below analysts' average estimate of $7.01, according to Thomson Reuters I/B/E/S.
Source: Reuters
Pentagon's proposed $582.7 bln budget for 2017 under fire from Republicans

WASHINGTON, Feb 9- The Pentagon unveiled a $582.7 billion budget on Tuesday that emphasizes threats like Russia, China and Islamic State rebels, but the proposal is already under fire from Republicans who accuse the president of short-changing the military. The proposal also would quadruple funds to counter Russian pressure in Europe following its seizure...
Source: Reuters
Obama budget envisions $2.9 bln in 10-year deficit reduction

WASHINGTON, Feb 9- President Barack Obama on Tuesday unveiled a budget that proposed $2.9 trillion in deficit reduction over 10 years, largely by curbing tax breaks for the wealthy and proposing new savings in the Medicare and Medicaid health care programs. The budget would boost spending to $4.1 trillion for 2017, up $196 billion from fiscal 2016, while...
Source: Reuters
UPDATE 2-Cost cuts, cheaper commodities help Coca-Cola top profit estimates

*To buy back $2 bln- $2.5 bln shares in 2016. *4th- qtr adj EPS of $0.38/ share vs est $0.37. Coca-Cola said on Tuesday it would refranchise all its North America bottling operations by the end of 2017, three years earlier than expected, and also refranchise its bottling operations in China.
Source: Reuters | By: Sruthi Ramakrishnan
ASTENBECK ASSETS UNDER MANAGEMENT AT $2 BLN AT END-JAN, DOWN FROM $2.1 BLN IN DECEMBER -INVESTOR LETTER

ASTENBECK ASSETS UNDER MANAGEMENT AT $2 BLN AT END-JAN, DOWN FROM $2.1 BLN IN DECEMBER- INVESTOR LETTER.
Source: Reuters
Buying back EM bonds puts welcome bid into stressed sector

*Emerging corporates bought back $22 bln in 2015- JPMorgan. LONDON, Feb 9- From Mexican homebuilders to Kazakh oil firms, more emerging market companies are buying back their dollar bonds from the market, often paying juicy price premiums that have put a welcome bid into the stressed emerging debt sector. "In periods of volatility and market dislocation it...
Source: Reuters | By: Claire Milhench