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Stocks down after home sales, labor cost data



By Madlen Read, AP
07 May 2008 @ 10:13 am EST


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Traders and Specialists work the trading floor at the New York Stock Exchange on Wednesday, April. 30, 2008 (AP Photo/David Karp)
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Quotes
S 7.99 -0.05
INTC 20.61 0.09
GOOG 444.25 -6.01
CMCSA 20.61 -0.24
TWC 26.97 -0.15

SYMBOL LOOKUP

In corporate news, Clearwire and Sprint Nextel Corp. are planning to merge their wireless broadband units to create a new $14.55 billion wireless communications company. The new company is getting a $3.2 billion investment from Intel Corp., Google Inc., Comcast Corp., Time Warner Cable Inc. and Bright House Networks.

Clearwire rose $1.38, or 8.4 percent, to $17.84, and Sprint rose 40 cents, or 4.4 percent, to $9.59.

Overseas, Japan's stock market rose 0.38 percent. By afternoon trading in Europe, Britain's FTSE index rose 0.69 percent, Germany's DAX index rose 0.98 percent, and France's CAC-40 rose 0.99 percent.

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