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Market Update : 
Lowe's Falls on 12% Profit Drop
Author: Elena Todorova
123jump.com
Last Update: 10:33 AM EDT May 21 2007

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Wall Street opened mixed Monday, as investors turned to profit-taking after the strong market performance last week. However, a flurry of merger deals generated some positive sentiment. Alltel rose 7.3% after agreeing to be acquired by TPG Capital and a Goldman Sachs unit for $27.5 billion, or $71.50 a share. Atlas Energy Resources jumped 14% as it agreed to buy 2,150 natural gas wells from DTE Energy for $1.23 billion.

 
The U.S. dollar was mostly higher against other major currencies in European trading Monday. The euro traded at $1.3481, down from $1.3505 late Friday in New York. The British pound traded at $1.9701, down from $1.9745. The dollar fetched 121.38 Japanese yen, up from 121.15.
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