The markets were mixed today on Wall Street. Cyprus’s 56-member parliament voted on and rejected the controversial levy on bank deposits that finance ministers made a condition of the bailout package that was requested by President Nicos Anastasiades over the weekend.
At the close: DJIA: +0.03%, S&P 500: -0.24%, NASDAQ: -0.26%.
On the commodities front, WTI crude oil (NYSEARCA:USO) fell 1.79 percent to $92.06 per barrel. The yield on the 10-year T-note fell 0.053 points to 1.903 percent. Gold (NYSEARCA:GLD) futures for April delivery, the most active contract, increased $6.70 to close at $1,611.30 per ounce, while silver (NYSEARCA:SLV) futures for May edged 3 cents lower to finish at $28.84.
Here’s your Cheat Sheet to today’s top stock stories:
Shares of Lululemon (NASDAQ:LULU) closed the day down 2.76 percent after the iconic athletic apparel company announced that “we expect a shortage in our supply of black Luon pants and crops” that could knock as much as $22 million off of first-quarter 2013 revenue… (Read more.)
Ever since the financial crisis, Bank of America (NYSE:BAC) has been shedding weight. While most of its weight loss has come from its investment banking units, the institution dropped down a bit more on Tuesday after announcing that it would be selling several branches in the Midwest… (Read more.)
“We’re still a wireless company. We’re just not going to act like one anymore,” wrote Deutsche Telekom’s (DTEGY.PK) T-Mobile in an invitation to a mysterious event scheduled for March 26 in New York. The company — whose merger with MetroPCS (NYSE:PCS) was just approved by the Federal Communications Commission — is looking to differentiate itself from the competition, which, in the world of smartphones and their accompanying wireless services, is ever increasing… (Read more.)
Intel’s (NASDAQ:INTC) plans to launch a web-based television program later this year is materializing, as the company is looking to add 60 new jobs to its existing 300 at Intel Media, and possibly approach 400, compared with the 100 employees that the division had a year ago. The move, announced in February, is a major directional change for the PC chip maker, who intends to offer a box to consumers that will allow users to access live programming as well as on-demand content in small bundles… (Read more.)
Cliffs Natural Resources (NYSE:CLF) closed the day down 6.6 percent after Goldman Sachs cut its forecast for iron ore prices. Goldman also slashed its price target from $24 to $20 and maintains a Sell rating on the stock.
Electronic Arts (NASDAQ:EA) stock closed the day down 8.3 percent after the company announced that its CEO, John Riccitiello, will step down effective March 30. Larry Probst will serve as executive chairman and will lead the game publisher’s executive team while a replacement is found.
Cardinal Health CAH) declined 8.2 percent after announcing that its contract with Walgreen (NYSE:WAG) won’t be renewed. Meanwhile, Walgreen ended the day up 5.44 percent after agreeing to a partnership with AmerisourceBergen (NYSE:ABC), which climbed 3.6 percent for the day.
Boeing (NYSE:BA) ended the day with fractional gains after the aerospace company officially announced that Ryanair has committed to order 175 Next-Generation 737-800s in a deal worth $15.6 billion at list price. The deal has been rumored to be in the works for about a week.
Blackstone Group (NYSE:BX) is reportedly considering an offer of its own for Dell (NASDAQ:DELL). People with knowledge of the matter told Bloomberg that the firm, along with other interested parties, could be putting together their own package, and could submit it as late as March 22 during Dell’s go-shop process… (Read more.)
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