Apple's $14.5 billion tax bill sends the markets lower with the Dow falling 52 points to 18,450. Nasdaq lost 12 points to 5,219.
Potash Corp of Saskatchewan and Agrium are reportedly engaged in discussions for a potential merger. Slumping crop prices have forced farmers to scrutinize all their expenses including fertilizer costs. The falling profits of crop nutrient companies sparked the merger talks.
Sears stopped selling paint four years ago but the strong housing market has once again created demand for home improvement supplies. Sears will begin offering Weatherbeater and EasyLiving brands of of paint and accessories at 23 stores. The retailer will also create a new line of paint under the Craftsman label.
After three years without pay raises and four years of negotiations, Southwest Airlines pilots have reached a tentative deal to receive a 29.4% raise over the next four years. Pilots will receive a signing bonus of up to 11% of pay, a 15% raise effective October 1, then 3% increases each year for the next four years. Details of the deal must still be finalized and the pilots' union must also approve.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by 9 to 7 on Nasdaq. The broader S&P 500 lost 5 points to 2,175. Bitcoin rose $4 to $577.
