MARKET PULSE-Aeroflex, Home Depot, General Motors, Stage Stores
(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 0.79 percent at 16,381.08, the S&P 500 was down 0.65 percent at 1,872.76 and the Nasdaq Composite was down 0.78 percent at 4,093.57.
** AEROFLEX HOLDING CORP, $10.44, +25.63 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.
** GENERAL MOTORS CO, $33.4, -2.48 pct
The automaker said it was recalling another 2.42 million vehicles in the United States, raising the number of vehicles it has recalled so far this year to more than 15 million.
** STAGE STORES INC, $17.82, -8.14 pct
The discount retailer reported lower-than-expected first-quarter sales, hurt by a 0.2 percent decline in comparable store sales. Continued...