By: Rob Black - Mon, 30 Apr 2012 15:11:24 -0800
Loser: Stocks Retreat on Spain RecessionStocks fell, while the euro weakened for a third day against the yen, as reports showed Spain entered its second recession since 2009. Europe is still considerably weak. U.S. consumer spending rose 0.3 percent in March, while an Institute for Supply Management-Chicago report showed business activity expanded in April at the slowest pace since 2009. The S&P 500 extended its April retreat to 0.8 percent. The index snapped a string of four monthly gains. Barnes & Noble soared as much as 90 percent, its biggest gain ever, after Microsoft said it will invest $300 million in a venture with the bookstore chain. Our world has changed so much that the two hated monopolists of the 1990s - Microsoft and B&N - must cling together to even stay relevant.
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