U.S. stocks end lower as oil tops $120, Microsoft dumps Yahoo bid

Date: Mon, 05 May 2008 17:11:38 -0400

U.S. stocks end lower as oil tops $120, Microsoft dumps Yahoo bid

U.S. stocks broadly lower, pressured by news of Microsoft Corp. dropping
its $50 billion offer for Yahoo Inc. and after an analyst said Bank of
America Corp. should abandon its takeover of Countrywide Financial
Corp.

Yahoo's shares plunge 16% after Microsoft pulls bid

Shares of Yahoo Inc. are tumbling more than 16% after Microsoft Corp.
pulled its takeover bid.

Economic Report: Banks squeezing credit to consumers, businesses

Consumers and businesses found it harder to borrow money over the past
three months, the Federal Reserve reports Monday, a sign that the
historic credit crunch now hitting the economy is still worsening.

Futures Movers: Oil futures near $120 to end at a fresh record on
Nigeria, dollar

Crude futures climb to uncharted territory in New York as concerns about
supply disruptions in Nigeria and weakness in the U.S. dollar help lift
prices to a near $120 a barrel.

Sprint may field offers, mull Nextel spinoff

Sprint Nextel is reportedly on the radar of German phone giant Deutsche
Telekom as a possible acquisition, a deal that could be made easier if
Sprint gets rid of the Nextel portion of its business.