U.S. Stocks Drop as Energy Shares Retreat the Most Since January
U.S. Economy World’s `Tallest Midget`: Dick Parsons
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U.S. stocks declined, after the biggest rally in two months, as Noble Energy Inc. led energy shares to their biggest drop since January.
Noble Energy lost 6.2 percent after agreeing to buy Rosetta Resources Inc. for $2.1 billion. Rosetta jumped 27 percent. Exxon Mobil Corp. and Chevron Corp fell more than 1.1 percent as oil prices slipped. Actavis Plc rose 3.1 percent after better-than-estimated first-quarter earnings. Dean Foods Co. added 6.5 percent as earnings topped analysts’ estimates and the company boosted its outlook.