U.S. Stocks Close Little Changed as House Passes Budget
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U.S. stocks were little changed, capping the worst week for the Standard & Poor’s 500 Index since August, with losses in oil producers and phone shares offsetting gains after the House of Representatives passed a budget deal.
Adobe Systems Inc. climbed 13 percent as it attracted more subscribers to its online software in the quarter than some analysts had predicted. Texas Industries Inc. jumped 14 percent as people familiar with the matter said it is seeking a buyer. Anadarko Petroleum Corp. fell 6.4 percent, leading energy stocks lower as a judge ruled the company may have to pay as much as $14 billion in a case related to the spinoff of Tronox Inc.