Hewlett Packard are announcing plans to lay off 27,000 employees looking for annually savings of $3 billion. The world's NO.1 computer maker also reported a 3% decline in quarterly revenue. A source told Reuters the New York Stock Exchange is quoting Facebook for its stock listing, and Facebook is considering it. Separately, an internal memo at Morgan Stanley reveals it is reviewing every Facebook trade and will make price adjustment for customers who paid too much during the company's debut last Friday.
Wall Street was focus on concerns over Greece and its future in the euro zone. Euro zone officials have agreed that each euro zone country must prepare an individual contingency plan in the event that Greece decided to leave the single currency block. Robert Hormat is the US undersecretary of State for economic growth.
--The Greeks have a chance to go to the polls, make a choice, they have a chance to make choices to what direction they are pursue, and your personal choices to have to react to that.
Dell shares plunging 17% to erase more than $4 billion dollars off its market cap after forecasting a disappointing second quarter revenue.
This spring selling seasons is showing signs of success in the housing market according to the Commerce Department. New home sales up 3.3% in April, and median home prices were closed by 5% from a year ago.
Taking a look at the closing numbers. A late afternoon rally took US stocks out of the red with a major indexes closing mostly higher, but in Europe stocks closed lower on fears that Greece would have to leave the euro zone.
Barby Rebell Reuters.
