NEW YORK (
TheStreet) -- Major U.S. stock markets were barely budging as the markets braced for the conclusion of a two-day
Federal Reserve meeting that's expected to follow with announcements that will provide more information into the timing of a tapering in quantitative easing and rate hike.
Sprint
was the biggest decliner in the S&P 500, its shares giving up 3.69% to $7.05. Dish Network
, the satellite TV operator, said Tuesday it wouldn't submit a revised bid for Sprint, clearing the way for Sprint to be acquired by Japan's Softbank. Sprint had given Dish until Tuesday to submit a sweetened bid for the No. 3 wireless carrier in the U.S.
Software maker Adobe Systems
was the winner, gaining nearly 5% to $45.52. Adobe said revenue from subscriptions jumped 60% in March through May from a year earlier, to $254.5 million. Adjusted earnings in the quarter were 36 cents a share, beating estimates by three cents.
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