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Nasdaq plunges more than 3% as tech weakness returns

The tech-rich Nasdaq Composite Index dived more than three percent Thursday in afternoon trade as anxiety over pricey technology equities again pushed US stocks into the red. Near 1920 GMT, the Nasdaq plummeted 131.56 (3.14 percent) to 4,052.34. The index got as low as 4,042.76 earlier in the session. The Nasdaq has been exceptionally volatile over the last week, losing 2.6 percent last Friday before notching large gains on Tuesday and Wednesday.

Stocks slide on Wall Street; Volatile biotechnology sector takes another plunge; eBay down

NEW YORK, N.Y. - U.S. stocks are heading lower after a mixed batch of corporate earnings reports. Biogen Idec, Gilead Sciences and other biotech companies extended their recent slump. The Standard The Dow Jones industrial average lost 75 points, or 0.5 per cent, to 16,361. The Nasdaq composite index dropped 75 points, or 1.8 per cent, to 4,108. Ebay dropped 3 per cent on news that Carl Icahn is backing down from his campaign to shake up the company.

House passes Ryan's Republican budget with deep spending cuts

WASHINGTON (Reuters) - U.S. House Republicans narrowly passed a new balanced budget plan from Representative Paul Ryan on Thursday in a vote that will help shape the debate ahead of November's congressional elections.

Wal-Mart launches price-slashing organic foods

Wal-Mart announced Thursday a deal with organic foods pioneer Wild Oats to sell discounted organic products in its US stores, a move expected to shake up the booming sector. "We know our customers are interested in purchasing organic products and, traditionally, those customers have had to pay more," Jack Sinclair, executive vice president of grocery at Walmart US, said in a statement.

EBay, Icahn settle proxy fight; Icahn withdraws proposal that PayPal be spun off from eBay

SAN JOSE, Calif. - Ebay and billionaire activist investor Carl Icahn have settled their proxy fight ahead of the company's annual meeting. Icahn and eBay had been in an acrimonious tussle over PayPal, the e-commerce company's quickly growing mobile payment arm. Icahn, who owns about 2 per cent of eBay's shares, said repeatedly the company should spin off all or part of PayPal, while eBay has said the company is better as a whole. He has also criticized the company's directors including CEO John Donahoe.

Rite Aid tops fourth-quarter expectations, logs 6th straight profit and prepares for growth

Rite Aid has left the recovery ward and appears ready to break into a sprint after booking its sixth straight quarterly profit and making a deal to strengthen the drugstore chain's foothold in the burgeoning health clinic market. Shares that had slumped below $1 by late 2012 soared above $7 Thursday morning after the retailer topped Wall Street expectations for the fourth quarter.

US stocks fall after weak Chinese trade data

US stocks Thursday moved lower in early trade as investors weighed weak Chinese trade data and an encouraging report on US jobless claims. About 30 minutes into trade, the Dow Jones Industrial Average edged down 11.69 points (0.07 percent) to 16,425.49. The broad-based S&P 500 dipped 4.49 (0.24 percent) to 1,867.69, while the tech-rich Nasdaq Composite Index fell 31.51 (0.75 percent) to 4,152.39. March trade data for China, the world's second-largest economy, showed imports dropped 11.3 percent and exports fell 6.6 percent.

US stocks fall after weak Chinese trade data

US stocks Thursday moved lower in early trade as investors weighed weak Chinese trade data and an encouraging report on US jobless claims. About 30 minutes into trade, the Dow Jones Industrial Average edged down 11.69 points (0.07 percent) to 16,425.49. The broad-based S&P 500 dipped 4.49 (0.24 percent) to 1,867.69, while the tech-rich Nasdaq Composite Index fell 31.51 (0.75 percent) to 4,152.39. March trade data for China, the world's second-largest economy, showed imports dropped 11.3 percent and exports fell 6.6 percent.

Constellation Brands, Intuitive Surgical, Facebook, Alcoa and E-Trade are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Alcoa Inc., up 47 cents to $13 Industry analysts raise their price targets for the aluminum maker's stock after the company weathered a rough patch in the recent quarter. Harman International Industries Inc., up $1.81 cents to $107.26 After a sharp sell-off of its shares, Raymond James upgraded the lighting and audio company. Constellation Brands Inc., down 84 cents to $80.64

Constellation Brands, Intuitive Surgical, Facebook, Alcoa and E-Trade are big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Alcoa Inc., up 47 cents to $13 Industry analysts raise their price targets for the aluminum maker's stock after the company weathered a rough patch in the recent quarter. Harman International Industries Inc., up $1.81 cents to $107.26 After a sharp sell-off of its shares, Raymond James upgraded the lighting and audio company. Constellation Brands Inc., down 84 cents to $80.64
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