U.S. stocks were trading down on Tuesday on 7th Sep, 2010 at 3:57PM EDT as the Dow Jones Industrial Average fell 105 points to 10343, the Standard & Poor’s 500 dropped 13 points to 1092 and the Nasdaq Composite diclined 25 points to 2209.
The Wall Street Journal reported that Hewlett-Packard Co. (NYSE:HPQ, $39.95, -$0.39, -0.97%) is suing former CEO Mark Hurd to stop him from taking a job at rival technology firm Oracle Corp. (NASDAQ:ORCL, $24.32, +$1.40, 6.10%)
Enterprise Products Partners LP (NYSE:EPD, $38.01, -$0.44, -1.14%), the largest U.S. pipeline operator, agreed to buy Enterprise GP Holdings LP (NYSE:EPE, $55.85, +$5.95, 11.92%) for more than $8 billion, in the merger of EPE with a wholly owned subsidiary of EPD through a unit-for-unit exchange.
The bottler Coca-Cola Enterprises (NYSE:CCE, $29.51, +$0.14, 0.48%) boosted its full-year profit forecast on Tuesday and said it expected annual revenue to increase 4 percent to 6 percent after the anticipated closing of the transaction in the fourth quarter.
Boeing Co. (NYSE:BA, $63.30, -$1.34, -2.07%) said Tuesday it will consolidate its Boeing military aircraft business to four divisions from six and cutting workers as the government moves to cut defense spending.
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