This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Finish Mixed As Greece Worries Return

Both the OECD and International Monetary Fund Managing Director Christine Lagarde were voicing support for eurobonds and the sharing of eurozone debt ahead of a meeting of European Union leaders in Brussels Wednesday.

The benchmark 10-year Treasury was falling 9/32, lifting the yield to 1.77%. The greenback was up 0.7%, according to the dollar index.

The July crude oil contract was down $1.01 to settle at $91.85 a barrel. June gold futures were down $12 to settle at $1,576.60 an ounce.






In corporate news, it was another ugly session for Facebook (FB). Reuters was reporting that an analyst with Morgan Stanley, the lead underwriter for the social networking giant's IPO on Friday, lowered revenue expectations for the company prior to its disappointing public debut on Friday. The stock plunged 8.9% to close at $31.00.

Facebook's revenue growth has been slowing in recent quarters, raising flags among some who believe the company should show consistently strong revenue growth at this stage of its maturation. The company surprised investors after disclosing, just days before the initial public offering, that its revenue may be hit by more users transitioning to mobile platforms, where advertising is less proven.

Shares of Morgan Stanley (MS), meanwhile, ticked higher by 0.9%, amid reports that regulators will investigate issues surrounding the Facebook IPO.

Specialty retailer Urban Outfitters (URBN) posted Monday first-quarter profit that topped analysts' expectations. Urban Outfitters earned $34 million, or 23 cents a share, for the three months ended April 30, 3 cents above analysts' views. The stock rose more than 7%.

Shares of Williams-Sonoma (WSM) gained more than 3% after the San Francisco-based upscale home products retailer reported adjusted earnings that topped Wall Street's consensus expectations and lifted the range of its fiscal 2012 profit outlook.

Tuesday brought more buyout news as well with Benihana (BNHN) agreeing to be acquired by private equity firm Angelo, Gordon & Co. for $296 million. The deal values shares of the restaurant operator at $16.30 each in cash, a premium of more than 40% to the stock's average closing price over the 30 days preceding March 13, when Benihana announced plans to examine its strategic options.

The stock jumped 21% on the news. Benihana is now in a go-shop period that allows it to actively solicit third-party proposals through July 1.

Shares of Express (EXPR) tanked more than 27% after its profit forecast for 2012 fell below analyst expectations. The retailer forecast a profit excluding certain items of $1.79 to $1.89 this year. Analysts had estimated $1.95, according to Bloomberg.

-- Written by Andrea Tse and Shanthi Bharatwaj in New York.



>To contact the writer of this article, click here: Andrea Tse.

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs