A relief rally boosted the markets back into positive territory this afternoon with some modest gains, as investors put aside their concerns over Europe.
On the economic front, consumer confidence fell in June, for a fourth consecutive month, according to the Conference Board. The index dropped to 62 from an downwardly revised 64.4 in May.
Meanwhile, there are signs of strength in the U.S. housing market as the S&P/Case-Shiller index of property values in 20 cities fell 1.9 percent in April from the same period a year ago.
Shares of News Corp (NASDAQ:NWS) soared to a four-year high after the company announced it may separate its publishing assets from its entertainment properties. The split would result in two publicly held units.
For-profit college chain Apollo Group (NASDAQ:APOL) handily beat earnings expectations, sending shares higher today. The company also raised its full-year profit forecast.
Microsoft (NASDAQ:MSFT) has announced the acquisition of Yammer for $1.2 billion. Yammer is a business social networking company. Shares of Microsoft are trading higher on the news today.
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