The Dow and S&P 500 give up a portion of their gains, while the Nasdaq extends its loss.
Technology stocks Apple (AAPL 181.97, -3.67) and
Google (GOOG 553.95, -13.05) are acting as the biggest drags.
Financials (-0.3%) have retreated into the red after being up as much
as 0.8%. Lehman Brothers (LEH 29.50, -2.79) is the
main laggard, and AIG (AIG 33.53, -0.40) also under pressure after the
Wall Street Journal reported major shareholders are not happy with
current management.
Diversified technology and manufacturing company Honeywell (HON
55.20, +1.19) is outperforming this session. The company announced
that it signed a definitive agreement to sell its Aerospace Consumable
Solutions business to B/E Aerospace for $1.05 billion. Honeywell feels
the Consumables Solutions unit no longer fits with Honeywell
Aerospace's focus on advanced technologies.
Dow component McDonald's (MCD 59.48, +2.53) said its
global same-store sales rose 7.7% in May, topping the Briefing.com
consensus estimate of 3.6%. International comparable sales rose 16.0%,
or 9.1% in constant currencies. U.S. comparable sales rose 4.2%.
Alcoa Inc. (AA:US) had the second-biggest gain in the Dow Jones
Industrial Average, rising 3.2 percent to $40.46. The world's
third-largest aluminum producer might more than double to $60 a share
were it to become a takeover target, Barron's said, citing a Citigroup
Inc. analyst.
CIT Group Inc. (CIT:US) rose the most since March 24, adding 14
percent to $10.45. The largest U.S. independent commercial lender said
Goldman Sachs Group Inc. will provide access to $3 billion in financing.