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U.S. Stocks End Mixed As Europe Polls Weigh; Hot Stocks: VRTX, CTSH, AIG, TSN, TLB, GGC, FTR
By: iStockAnalyst   Monday, May 7, 2012 4:32 PM
The Hingham, Massachusetts-based company said it continues to evaluate strategic alternatives, including Sycamore Partners' proposal.

Georgia Gulf Corp. (NYSE:GGC) retreated 6.6 percent after rival Westlake Chemical Corp. (NYSE: WLK) said it is withdrawing its proposal to buy the chemical company.

Frontier Communications Corp. (NASDAQ:FTR) slumped 7.2 percent after saying its first-quarter revenue fell due to decline in the number of residential and business customers, switched access, data services and video revenue. Revenue dropped to $1.27 billion from $1.35 billion a year ago.

Tyson Foods Inc. (NYSE:TSN) rose 3.22 percent after the meat processor posted 4.5 percent increase in second-quarter earnings on growth in sales. Earnings attributable to Tyson were $166 million or $0.44 per share for the quarter, up from $159 million or $0.42 per share in the year-ago quarter. Sales rose 3.4 percent to $8.3 billion.

Global Markets:

The European markets ended on a mixed note amid political developments in France and Greece. Germany's DAX added 0.12 percent to finish at 6,569.48. France's CAC40 gained 1.65 percent to close at 3,214.22. The U.K. markets were closed on Monday for a holiday.
Asian markets too closed on a mixed note. The Shanghai Composite Index inched 0.04 points lower to end at $2,451.12. Hong Kong's Hang Seng declined 2.61 percent to close at 20,536.65. Japan's Nikkei 225 tumbled 2.78 percent lower to close at 9,119.14. India's BSE Sensex finished at 16,912.71, up 0.48 percent.

Commodity & Currency Scan:

Crude oil futures dropped 0.46 percent to $98.04 per barrel, while natural gas futures gained 2.33 percent to $2.332 per million metric British thermal units. Gold futures fell 0.38 percent to $1,638.9 per ounce, and silver slumped 1.22 percent to $30.06 per ounce.
In the currency market, the euro dipped 0.24 percent against the U.S. dollar to $1.3051. The British pound added 0.24 percent against the greenback to 1.6188, and the dollar edged 0.08 percent higher against the Japanese yen to 79.9100.

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