MARKET PULSE-Aeroflex, Staples, Home Depot, Chimerix, Dow Chemical
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks dipped on Tuesday, weighed down by retailers after earnings from TJX Companies and Staples. The Dow Jones industrial average was down 0.27 percent at 16,466.46, the S&P 500 was down 0.21 percent at 1,881.07 and the Nasdaq Composite was down 0.49 percent at 4,106.77.
** AEROFLEX HOLDING CORP, $10.45, +25.75 pct
British aerospace and defense supplier Cobham is buying U.S. communications equipment maker Aeroflex Holding Corp for $1.46 billion, continuing its quest for more commercial customers as its main defense clients cut spending.
** STAPLES INC, $11.78, -12.02 pct
The largest U.S. office supply retailer forecast a fall in sales in the current quarter as customers shift to e-retailers, mass merchants and drugstores to buy their office supplies.
** HOME DEPOT INC, $78.15, +2.16 pct
The world's largest home improvement chain said its sales were "robust" in May and that it expected to realize in the current quarter most of the sales lost in the first quarter due to a severe winter in the United States. Continued...