Midday Report: Restoration Hardware Slashes Outlook; U.S. Stocks Fall

U.S. stocks extended their decline as investors engaged in profit-taking after three days of gains. Crude also weighed on markets after falling below $51 a barrel. Oil had its best settlement since July a day earlier. Yahoo! (YHOO) spiked on reports it has received multiple bids worth more than $5 billion for its core Internet assets. The bidding process is expected to end by mid-July. Restoration Hardware (RH) - Get Report tanked after slashing its quarterly and full-year outlook. The furniture retailer warned profit could tumble by as much as 40 percent this fiscal year as it tries to cut back on the number of discount offers. LinkedIn (LNKD) shares were active after RBC Capital upgraded the stock to outperform from sector perform. TheStreet's Keris Lahiff has details from Wall Street.