Shares of Blockbuster Inc. plunged Monday after it announced a $1 billion-plus hostile takeover bid for No. 2 electronics retailer Circuit City Inc., earning it a downgrade from a BMO Capital Markets analyst.
The fallout from General Electric's disappointing first quarter is continuing as a Bear Stearns analyst downgraded the stock, becoming the fifth analyst since Friday to do so.
Major Web stocks traded mixed Monday, with Google Inc. declining after the online search leader and Salesforce.com Inc. said they expanded their relationship, with Salesforce starting to sell Google's software applications.
Stocks inched lower on Monday after an unexpected quarterly loss from Wachovia Corp hurt bank shares, overshadowing a surprise rise in March retail sales.
The U.S. manufacturing sector is holding up relatively well, according to one analyst, which he said may bode well for chemical companies in the first quarter.
H&R Block Inc., the nation's largest tax preparer, said Monday the number of clients for its core retail business increased 1.6 percent in the Nov. 1 through March 31 tax-season period.
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