NEW YORK (AP) - The Standard & Poor's 500 Index fell Tuesday, with shares of
Lehman Brothers Holdings Inc. posting the steepest decline following reports the
investment bank may need to raise cash.
The index fell 8.02 to end at 1,377.65.
Lehman shares gave up $3.22, or 9.5 percent, to close at $30.61. The
investment bank denied that it tapped the Federal Reserve's discount window to
ward off a cash shortage.
Tyson Foods Inc. fell $1.47, or 8 percent, to $16.98 after the world's
largest meat producer said it withdraw advertising and labels claiming its
poultry products don't contain antibiotics. A federal court had previously
issued an injunction stopping the practice.
Aerospace components maker Goodrich Corp. declined $4.24, or 6.7 percent, to
$59.50.
Gaining stocks were led by homebuilder KB Home, which rose $1.14, or 5.6
percent, to $21.52.
Chip maker SanDisk Corp. climbed $1.51, or 5.5 percent, to $28.85. On
Monday, the Semiconductor Industry Association released data indicating
semiconductor sales rose 5.9 percent in April.
Homebuilder DR Horton Inc. advanced 63 cents, or 5 percent, to $13.17.
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