Indices closed out in red territory on Wednesday. American Express led the Dow’s descent. First Solar led the way down on the S&P 500. Stocks slipped amid continued global stimulus uncertainty. In merger action, Cooper Tire & Rubber Co. climbed 41 percent today after agreeing to be acquired by Apollo Tyres Ltd. in a deal worth $2.57 billion. Elsewhere, in ratings moves, Atlantic Equities downgraded Wells Fargo to “underweight” from “neutral.” JPMorgan upgraded Praxair to “overweight” from “neutral.” Looking ahead, data on initial jobless claims and monthly retail sales is set for release tomorrow.
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