NEW YORK (AP) — Stocks are mixed in morning trading, after finishing last week at record highs. The Dow has retreated slightly from Friday’s close, while the S&P has been mostly flat so far, as has the Nasdaq composite.
WASHINGTON (AP) — The National Association of Realtors says sales of existing homes increased 4.9 percent last month to a seasonally adjusted annual rate of 4.89 million homes. The monthly gain was the fastest since August 2011. Still, even with the gain, sales are 5 percent below the pace in May 2013.
REDWOOD SHORES, Calif. (AP) — Software maker Oracle is buying Micros Systems for about $5.3 billion. Micros provides software and hardware to the hospitality and retail industries. Oracle says the acquisition will extend its offerings by combining Micros’ industry-specific applications with its business applications, technologies and cloud portfolio. Shares of both companies are up in morning trading.
MILWAUKEE (AP) — Wisconsin Energy is buying Integrys Energy Group for about $5.8 billion in cash and stock. The combined company will be called WEC Energy Group and provide electricity and natural gas to more than 4.3 million customers across Wisconsin, Illinois, Michigan and Minnesota. Under the deal, Integrys stockholders will receive what amounts to a 17 percent premium to the company’s Friday closing stock price.
WASHINGTON (AP) — The Supreme Court has placed limits on the sole Obama administration program in place to deal with power plant and factory emissions. The justices ruled that the Environmental Protection Agency lacks authority in some cases to force companies to evaluate ways to reduce carbon dioxide emissions, the chief gas linked to global warming. The rule applies when a company needs a permit to expand facilities or build new ones that would increase overall pollution. The decision does not affect EPA proposals for national standards for new and existing power plants.
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