For personal non-commercial use only. Do not edit or alter. Reproductions not permitted. To reprint or license content, please contact our reprints and licensing department at +1 800-843-0008 or www.djreprints.com Jeffrey Herbst A Fare Change Facebook’s Algorithm For Business Fliers Is a News Editor THE MIDDLE SEAT | D1 OPINION | A15 ASSOCIATED PRESS ***** THURSDAY, APRIL 14, 2016 ~ VOL. CCLXVII NO. 87 WSJ.com HHHH $3.00 DJIA 17908.28 À 187.03 1.1% NASDAQ 4947.42 À 1.55% STOXX 600 343.06 À 2.5% 10-YR. TREAS. À 6/32 , yield 1.760% OIL $41.76 g $0.41 GOLD $1,246.80 g $12.60 EURO $1.1274 YEN 109.32 What’s Migrants Trying to Leave Greece Meet Resistance at Border Big Bank’s News Earnings Business&Finance Stoke Optimism .P. Morgan posted bet- Jter-than-expected re- sults, delivering a reassur- BY EMILY GLAZER ing report on its business AND PETER RUDEGEAIR and the U.S. economy. A1 The Dow climbed 187.03 J.P. Morgan Chase & Co. de- points to 17908.28, its high- livered a reassuring report on est level since November, as the state of U.S. consumers J.P. Morgan’s earnings ignited and corporations Wednesday, gains in financial shares. C1 raising hopes that strength in the economy will help banks Citigroup was the only offset weakness in their Wall bank whose “living will” plan Street trading businesses. wasn’t rejected by either the Shares of the New York Fed or the FDIC, while Wells bank, which reported better- Fargo drew a rebuke. C1 than-expected first-quarter Peabody filed for bank- profit, helped push the Dow ruptcy protection, as coal’s Jones Industrial Average slow collapse claimed the 187.03 points, or 1.1%, higher, country’s largest producer. A1 to a new 2016 peak. J.P. Mor- gan’s position as the largest Regulators have proposed U.S. bank by assets—spanning banning Theranos’s founder AMEL EMRIC/ASSOCIATED PRESS businesses from mortgage from the blood-testing busi- FENCED IN: A migrant in the Greek village of Idomeni clashed Wednesday with a police officer across the border in Macedonia. A10 lending to merger advice— ness for at least two years. A1 makes it a bellwether for the Two senators circulated industry and the rest of the a proposal that would re- market. quire firms to unlock en- Bank officials said trading crypted technology when activity picked up in March, served with a court order. B1 Coal Crash Sinks Mine Giant helping offset an otherwise lackluster first quarter in mar- Most top oil executives kets. Strong borrowing de- have seen their pay shrink dustry for more than a cen- Health Administration. get 33% of their electricity mand from consumers and along with share prices. An Largest U.S. producer tury. No large publicly listed U.S. from gas in 2016, and 32% companies helped the bank increase for BP’s CEO has Peabody follows rivals The bankruptcy of St. Louis- coal miner has been spared by from coal, according to the En- earn about $300 million more irked many shareholders. B1 into bankruptcy amid based Peabody Energy Corp. the forces crushing the coal in- ergy Information Administra- than analysts projected for the OPEC said global oil came after similar filings by dustry, which include the de- tion. As recently as 2008, coal period. production outside the drop in demand, prices Arch Coal Inc., Alpha Natural cline in steel production, the fueled half of U.S. power con- “The U.S. economy contin- cartel is falling more Resources Inc., Patriot Coal conversion of coal-fired power sumption. Coal prices have ues to chug along,” Chairman sharply than expected. C1 BY JOHN W. MILLER Corp. and Walter Energy Inc., plants to natural gas, which fallen by more than 60% since and Chief Executive James Di- AND MATT JARZEMSKY all of which have recently has become a cheap and abun- 2011. mon said on a conference call Verizon was hit by a sought chapter 11 protection. dant thanks to the shale boom, Peabody Chief Executive with reporters. While the bank strike by nearly 40,000 union Coal’s slow collapse pushed Those companies have lost and new environmental regula- Glenn Kellow called the cur- is still aiming for faster employees after 10 months the largest U.S. miner to de- a combined $30 billion in tions. rent market “historically chal- growth, “the consumer is of tense contract talks. B5 clare bankruptcy Wednesday, stock-market value since 2010, But despite miners’ strug- lenged” and said the bank- strong, companies still have Retail sales fell in March, marking the end of an era for and the coal sector has shed gles, coal has continued to fuel ruptcy filing was “an in-court plenty of cash” and “most the third straight month of big publicly traded companies 31,000 jobs since 2009, accord- roughly one-third of the U.S. solution to Peabody’s substan- economists think [the U.S. flat or declining sales. A6 that have fueled American in- ing to the Mine Safety and electric grid. Americans will Please see COAL page A11 economy] will be stronger in World-Wide Please see BANK page A2 Final Buzzer for Kobe Bryant Bank Bounce Sanders is making risky U.S. Proposes Ban Performance of J.P. Morgan moves ahead of the New shares vs. two indexes York primary in a bid to un- S&P 500 dercut Clinton. Trump is Of Theranos Founder 5% drawing support across J.P. Morgan Chase western New York state. A4 BY JOHN CARREYROU and Theranos’s president, Sunny 0 KBW Nasdaq AND CHRISTOPHER WEAVER Balwani, from owning or run- Bank index A Chicago task force on ning any other lab for at least police accountability called –5 Federal health regulators two years. That would include for sweeping changes to have proposed banning Thera- the company’s only other lab, lo- the city’s police force. A3 –10 nos Inc. founder Elizabeth cated in Arizona. A brain implant allowed Holmes from the blood-testing The two labs generate most –15 a paralyzed man to use his business for at least two years of Theranos’s revenue and are at thoughts to move his arm, after concluding that the com- thecoreofitsstrategytorevolu- researchers reported. A3 pany failed to fix what regula- tionize the blood-testing indus- –20 tors have called major problems try with new technology, user- Total spending on pre- at its laboratory in California. friendliness and quick results. –25 scription drugs in the U.S. In a letter dated March 18, The letter hasn’t been re- JFMA increased 12.2% to nearly Source: FactSet HARRY HOW/GETTY IMAGES the Centers for Medicare and leased to the public, but a copy $425 billion in 2015. B3 MAMBA: One of the NBA’s all-time top scorers hugged Laker head Medicaid Services said it plans was reviewed by The Wall Street THE WALL STREET JOURNAL. Defections by allies of coach Byron Scott at his farewell game. Magic Johnson and other to revoke the California lab’s Journal. Brazil’s Rousseff are reduc- giants paid tribute to the All-Star’s achievements over a 20-year career. federal license and prohibit its Under federal law, Theranos Greg Ip: Big banks bring ing her chances of surviving owners, including Ms. Holmes Please see HOLMES page A6 benefits, too............................... A2 an impeachment vote. A7 The CDC said there is enough evidence to con- TWITTER AND ISIS clude that the Zika virus NASA Truly can cause birth defects. A3 Oracle #1 Islamic State said two WantstoGrow DEADLOCK brothers were the main or- ganizers of the attacks in Spuds on Mars Paris and Brussels. A10 IN ONLINE BATTLE Cloud ERP iii Syrian peace talks re- sumed as the regime held In Peru, fiction elections that critics de- Islamic State supporters open new accounts nounced as illegitimate. A10 and real life almost as quickly as gatekeepers delete them European Union privacy regulators called for are mashed up BY CHRISTOPHER S. STEWART brate the attacks. changes to a new EU-U.S. AND MARK MAREMONT U.S. companies such as data-transfer accord. B3 BY RYAN DUBE Twitter, Facebook and You- Hours after the Brussels Tube, joined by online hack- Russian warplanes buzzed PAMPAS DE LA JOYA, Peru— terror attacks, a notorious Is- ers and similarly minded a U.S. Navy destroyer in the As humans prepare to blast off lamic State operative posted groups, have for months ag- Baltic Sea this week, a sign of to Mars, there is still the ques- a Twitter message on behalf gressively battled the spread potentially rising tensions. A10 tion of what they’ll eat once of the extremist group, which of Islamic State material on- 1,800 207 they colonize the red planet. had taken responsibility for line. Accounts and posts that CONTENTS Opinion.............. A13-15 Scientists who have traveled the slaughter and warned of would have stayed alive for Oracle Cloud Workday Cloud Business News. B2-3,6-8 Sports.......................... D6 Crossword................. B8 Style & Travel.... D2-4 here to the Peruvian desert say more to come. weeks now sometimes last as ERP Customers ERP Customers Election 2016.... A4-6 Technology.......... B4-5 they have the answer. Potatoes. “We promise black days little as a few hours. Global Finance........ C3 U.S. News............. A2-3 Researchers at the Lima- for all crusader nations allied Islamic State supporters, “OraclehastheiracttogetherbetterthanSAP” Heard on Street.... C8 Weather..................... B8 based International Potato Cen- in their war against Islamic particularly on Twitter, have Aneel Bhusri, Workday CEO In the Markets......