Stocks Catch Bounce on Home Price Data
August crude oil futures rose 15 cents to settle at $79.36 a barrel. August gold futures lost $13.50 to settle at $1,574.90 an ounce.
The benchmark 10-year Treasury slipped 7/32, raising the yield to 1.630%, while the greenback was down 0.08%, according to the dollar index.
News Corp. (NWSA) is considering splitting into two companies, separating its smaller publishing business from its entertainment businesses, The Wall Street Journal reported, citing people familiar with the situation.
The split would carve off such assets as 20th Century Fox film studio, Fox broadcast network and Fox News channel from News Corp.'s newspapers, book publishing assets and education businesses. News Corp. owns the Journal.A final decision on the split hasn't been made, according to the Journal. News Corp. Chairman Rupert Murdoch has previously opposed such a move, but has recently warmed to the idea, said one person familiar with the situation. Shares surged more than 8% on in excess of three times normal volume. Facebook (FB) named Sheryl Sandberg, the social-networking company's No. 2 executive, to its board. Sandberg, Facebook's chief operating officer, is the eighth member of the company's board and its first woman. The stock added 3.2%. Shares of LDK Solar (LDK) finished down more than 6% after the company posted a wider than expected quarterly loss as sales fell more than 70% year-over-year. Apollo Group (APOL), the operator of the University of Phoenix, reported fiscal third-quarter adjusted earnings Monday of $1.20 a share on revenue of $1.13 billion, beating analysts' estimates of a profit of 97 cents a share on revenue of $1.12 billion. The stock jumped 10.3% on Tuesday. Biopharmaceutical company Celgene (CELG) was raised to outperform from neutral by Cowen. Celgene shares gained more than 3.3%. -- Written by Andrea Tse in New York.
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