Business Today: Wall Street ends flat after late volatility

Click to View in Browser 05/22/2012 Wall Street ends flat after late volatility NEW YORK (Reuters) - Stocks closed mostly flat on Tuesday after volatility late in the session, with weakness in materials and energy shares offsetting strength in financials. Dell results disappoint Street, shares dive SAN FRANCISCO (Reuters) - Dell Inc's quarterly revenue fell more than Wall Street's expectations, hurt by weak sales to consumers, large enterprises and government units. SEC, FINRA call for Facebook review, pressure builds (Reuters) - Two top U.S. financial regulators called for a review of the initial public offering of Facebook last week, putting fresh pressure on the company, its embattled lead underwriter and the Nasdaq. Ford gets second investment-grade nod from Moody's DETROIT (Reuters) - Moody's Investors Service upgraded Ford Motor Co to an "investment grade" credit rating on Tuesday, a move that allows the No. 2 U.S. automaker to reclaim its iconic Blue Oval insignia and other collateral pledged during its 2006 crisis. SAP to buy Ariba, enterprise value $4.3 billion (Reuters) - SAP AG said it would buy smaller software maker Ariba Inc for $45 a share, representing an enterprise value of about $4.3 billion, the latest in a string of acquisitions to help fuel revenue growth at the German technology company. Gupta on Rajaratnam's "important people" list: witness NEW YORK (Reuters) - Former Goldman Sachs director and McKinsey & Co executive Rajat Gupta was on a list of "important people" that now-imprisoned hedge fund manager Raj Rajaratnam was willing to be disturbed to take their phone calls, his onetime secretary testified at Gupta's insider-trading trial on Tuesday. SEC looking at JPMorgan's financial reporting WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission told lawmakers on Tuesday that her agency is probing JPMorgan Chase and Co's financial reporting and emphasized that big banks are required to publicly disclose changes to the models they use to measure risk. Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund (Reuters) - Oliver Chang, head of U.S. housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm to start his own buy-to-rent housing fund. Wells Fargo increases return targets (Reuters) - Wells Fargo & Co on Tuesday increased its goals for returns on assets and shareholder payouts while executives pledged to carefully manage risk throughout the company's sweeping operations. Home resales rise, boding well for economy WASHINGTON (Reuters) - The pace of sales for existing homes in April rose to its fastest in nearly two years and a falloff in foreclosures helped cause an unexpected jump in prices, hopeful signs for the country's economic recovery. Related Video Morgan Stanley's Facebook about-face Trading at Noon: Facebook drops again as pressure mounts Economic News Home resales rise, boding well for economy OECD fears euro woe to snap brittle world recovery A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend