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Market Snapshot June 5, 2007, 9:18AM EST

Stocks Lower after Bernanke Speech

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com/ticker/' rel='ticker'>OPWV) was down after rejecting an offer to buy 49% of the firm's outstanding shares by Harbinger Capital.

American Woodmark Corp. (AMWD) reported earnings of 40 cents per share, vs. 83 cents a year ago, on a 23% drop in revenue. The company says it completed a previously announced transition out of certain low-margin products.

UAL Corp. (UAUA) was trading higher after United Airlines unit reported its preliminary May traffic results, which showed the airline's highest-ever May passenger load factor of 84.6%. Total scheduled revenue passenger miles were up by 0.5%.

Trump Entertainment (TRMP) was down after Bear Stearns downgraded the stock to underperform from peer perform.

Financial Federal Corp. (FIF) was trading higher after reporting earnings of 48 cents per share, vs. 42 cents a year ago on a 15% increase in finance income. The firm announced a $50 million stock buyback program.

Most European stock markets moved lower on Tuesday. In London, the FTSE 100 index was down 0.47% to 6,632.80. Germany's DAX index was off 0.71% to 7,919.83. In Paris, the CAC 40 index moved 0.77% lower to 6,078.54.

Asian markets finished higher. In Japan, the Nikkei index rose 0.45% to 18,053.81. In Hong Kong, the Hang Seng Index was up 0.54% to 20,842.15. After tumbling 8.26% on Monday, China's Shanghai Composite was back up 2.63% to 3,767.10.

Treasury Market

Bonds fell on Tuesday, pushing the two- and ten-year notes close to 5% yields. The 10-year Treasury note is off 11/32 to 96-9/32 for a yield of 4.98%; the 2-year note was off 2/32 at 99-25/32 for a yield of 4.99%; and the 30-year bonds were off 20/32 at 95-05/32 for a yield of 5.06%.

Steverman is a reporter for BusinessWeek's Investing channel.

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