Stocks Ended Mixed Despite Eurozone Worries

U.S. stocks ended mixed on Monday, despite the uncertainty surrounding the euro zone’s ability to tackle its debt crisis. The Dow Jones Industrial Average fell 29.74 points, or 0.23%, to 13,008.53. The S&P 500 ended up 0.48 point, or 0.04%, at 1,369.58. The Nasdaq Composite rose 1.42 point, or 0.05%, to 2,957.76.

Investors woke up Monday to a “worst case” scenario in Greece after voters punished mainstream, pro-bailout parties in parliamentary elections, potentially creating a political vacuum that could fan doubts over the country’s ability to meet the terms of its latest bailout and remain in the euro, strategists said.

The U.S. housing market is reaching a bottom, according to Lewis Ranieri, the mortgage-bond pioneer. While “broad” concern that home prices have further to fall is restraining sales, “many, myself included, think we are at a bottom,” Ranieri said today at a conference hosted by the Mortgage Bankers Association in New York.

Electronic Arts Inc. reported better-than-expected revenue Monday afternoon for its fiscal fourth quarter. For the fiscal fourth quarter ended March 31, EA (NASDAQ:EA)  reported net income of $400 million, or $1.20 per share, compared with net income of $151 million, or 45 cents a share, for the same period last year. Revenue came in at $1.37 billion compared with $1.09 billion for the same period last year.

Wynn Resorts Ltd. (NASDAQ:WYNN) said late Monday that its first-quarter profit fell to $140.6 million, or $1.23 a share, from $173.8 million, or $1.39 a share, in the year-ago period. Excluding one-time items, the casino operator would have reported earnings of $1.33 a share in the latest quarter. Net revenue, excluding promotions, rose to $1.31 billion from $1.26 billion last year.

Crude-oil prices fell to a three-month low on Monday, adding to the previous week’s losses as election results in Europe drove up investor anxiety. Crude for June fell 55 cents, or 0.6%, to $97.94 a barrel on the New York Mercantile Exchange, the lowest for a front-month contract since Feb. 6.






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