FACEBOOK SHARES FALL BELOW $38 IPO PRICE
Facebook shares are under its initial public offering price of $38, on just its second day of trading, a black eye for all those involved with the social networking company going public.
EATON TO ACQUIRE COOPER INDUSTRIES IN $11.8B DEAL
Industrial manufacturer Eaton agrees to buy electrical equipment supplier Cooper Industries in a $11.8 billion cash-and-stock deal pricing Cooper at $72 a share. Eaton expects deal to expand its power management portfolio and electrical business.
US STOCKS OPEN HIGHER AS BOEING, CATERPILLAR LEAD
U.S. stocks open higher, bouncing from a recent stretch of sharp declines, as broad gains in European markets help soothe some fears about contagion from Greece. Shares of Boeing and Caterpillar are leading gainers.
CHICAGO FED'S APRIL NATIONAL ACTIVITY INDEX PICKS UP
The Federal Reserve Bank of Chicago says its national activity index improved to 0.11 in April after March was revised down to -0.44, meaning U.S. economic activity is moving back to historical trend levels.
LOWE'S NET UP 14% ON WARM WEATHER, CALENDAR SHIFT
Home-improvement retailer's fiscal 1Q earnings rise to $527 million, or 43c a share, as a calendar shift and warm weather boost results. But same-store sales come in low and company lowers full-year outlook. Shares fall 7%.
BARCLAYS TO SELL STAKE IN BLACKROCK
Barclays says it intends to sell its $6.1 billion stake in BlackRock, as the U.K. lender seeks to redeploy cash to boost its profitability and offset the effects of impending regulation.
YAHOO TO SELL HALF OF ALIBABA STAKE FOR $7.1B
Yahoo strikes a deal to sell up to half of its stake in Alibaba Group Holding back to the Chinese company for $7.1 billion. Yahoo will get $6.3 billion in cash and around $800 million in Alibaba preferred stock.
DAVITA, HEALTHCARE PARTNERS TO MERGE IN $4.42B DEAL
DaVita, a leading provider of kidney care services, enters into a definitive agreement to merge with HealthCare Partners, the largest operator of medical groups and physician networks in the U.S. in a deal worth $4.42 billion.
FIVE US CABLE COMPANIES IN WIFI-SHARING EFFORT
Comcast, Time Warner Cable, Cablevision, Bright House Networks and Cox Communications will join forces to give customers access to each other's wireless Internet hotspots in the most sweeping WiFi roaming agreement to date.
EU SAYS GOOGLE TO OFFER REMEDIES IN ANTITRUST CASE
The European Commission says it will offer internet giant Google the chance to offer remedies against anti-trust complaints brought by more than a dozen companies, including Microsoft.
CHINA'S WANDA TO ACQUIRE AMC ENTERTAINMENT
A Chinese conglomerate agrees to acquire U.S. movie theater chain AMC Entertainment Holdings in a deal that they say is worth around $2.6 billion, in one of the biggest moves yet by a Chinese company to break into the U.S. industry.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Facebook Dashes Faith
Al Lewis saw Facebook's IPO as an escape from global misery. A chance to pretend things weren't so bad. An opportunity to ask "what if?" Only to have his hopes dashed.
THE WALL STREET JOURNAL
Nasdaq's Facebook Problem
The Nasdaq Stock Market acknowledges technology problems affected trading in millions of Facebook shares. Friday's technical problems left investors large and small with orders processed improperly, if at all.
============ U.S. MARKETS ACTION ===========
DJIA up 39.05 points to 12407.75
NASDAQ up 5.11 points to 2783.90
S&P 500 up 4.64 points to 1299.82
10-year T-note 100 2/32 at 1.7389 yield
NYMEX Crude up $0.35 at $91.83/bbl
Dollar/Euro down 0.0027 at 1.2740