Stocks Plunge on Weak Data, Greece Concerns
Information processing and software company DST Systems (DST) has received several buyout offers from private-equity firms, according to a Reuters report. DST's stock gained 13% to $54.51.
Scotts Miracle-Gro (SMG) saw its stock slip 6% to $49.19 after the lawn and garden products company said it expects full-year earnings to fall short of Wall Street's expectations because of increased promotional activity and unfavorable weather conditions in the U.S.
The Energy Information Administration reported a surprise 3.4-million barrel increase to crude oil inventories in the week ended June 10. Analysts had been forecasting a decline of 1.9 million barrels, according to a Platts survey.Late Tuesday, the American Petroleum Institute said crude oil supplies fell by 3.03 million barrels last week. The July crude oil contract tumbled $4.19 to $95.18 a barrel. A stronger dollar didn't stop a rise in Gold prices. August delivery gained $5 at $1,531 an ounce. The benchmark 10-year Treasury rose 1 3/32, diluting the yield to 2.976%. . -- Written by Chao Deng and Melinda Peer in New York.
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