Commodity prices. U.S.
light crude oil for June delivery rose as high as $126.64 a barrel in
electronic trading before pulling back a bit. Meanwhile, the national
average price for a gallon of regular unleaded gas rose to a record
$3.776.
Jobless claims. The
number of Americans filing new claims for unemployment rose 6,000 last
week to 371,000, just topping forecasts for a rise to 370,000.
Manufacturing. The
NY Empire State index, a regional read on manufacturing, came in at
minus 3.2, versus forecasts for a flat reading. Any negative reading
indicates weakness in the sector.
Yahoo under pressure.
Activist shareholder Carl Icahn is launching a campaign against the
Internet company's board of directors so as to restart deal talk with
would-be buyout partner Microsoft. Yahoo (YHOO, Fortune 500).
CBS buying CNet. The
broadcaster is buying the Internet company for $1.8 billion in cash, in
a deal that will make CBS one of the top 10 web companies in the U.S.
CBS (CBS, Fortune 500). CNet (CNET).
GE could sell appliance division. The
conglomerate has reportedly hired Goldman Sachs to seek buyers for the
sale of its business, which could be worth between $5 billion and $8
billion. GE