U.S. stocks declined, halting the Standard & Poor’s 500 Index’s longest winning streak since September, after disappointing earnings reports from AT&T Inc. and Amgen Inc. and an unexpected drop in home sales.
U.S. shares fell, following yesterday’s worst drop in a month, as financial and technology shares led losses. Emerging-market stocks climbed to a two-month high as Brazilian equities surged. Oil rose while gold slipped.
Roche Holding AG’s new chairman signaled today he’ll follow his predecessor’s tight-fisted approach toward acquisitions even now that the drugmaker has paid down much of the debt from its last big deal.
Patent-owner Cornell University and Life Technologies Corp. , a provider of gene-analysis tools for medical research, sued Illumina Inc. claiming the company is infringing eight patents for DNA research products.