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U.S. stocks fell, following a two-day advance for the Standard & Poor’s 500 Index, amid growing pessimism that European leaders will reach agreement on measures to ease the debt crisis at a summit this week.
Dow 12,151 +0.37 0.00%, Nasdaq 2,641 -8.42 -0.32%, S&P 500 1,255 -3.51 -0.28%
Peabody Energy Corp. (BTU) fell 3.8 percent to $36.80. Arch Coal Inc. (ACI) slipped 3.6 percent to $15.74. Alpha Natural Resources Inc. (ANR) retreated 2.2 percent to $24.34.
First Solar Inc. (FSLR) advanced 7.7 percent, the most in the S&P 500, to $49.64. Warren Buffett’s MidAmerican Energy Holdings unit agreed to buy the company’s $2 billion Topaz Solar Farm project in California. Financial terms weren’t disclosed.
Talbots Inc. (TLB) surged 63 percent to $2.54. The purveyor of women’s apparel said it would “evaluate” Sycamore Partners LP’s offer to buy the retailer for $212 million. The private- equity firm had said in a regulatory filing that it had offered to acquire all of the company’s shares for $3 apiece.
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