U.S. stocks retreat after S&P 500 Index rallies for six weeks

BlackBerry Swap

BlackBerry dropped 75 cents to $15.74, while Apple shares rose $4.29 to $479.27. Home Depot said it will swap out the Canadian company’s phones to its corporate employees and managers with iPhones. The move deals a setback to BlackBerry, formerly known as Research In Motion Ltd., which unveiled a new lineup last month in a comeback attempt after years of losing ground to the iPhone and Android devices.

AOL gained $2.08 to $35.80. The Web publisher that owns the Huffington Post and TechCrunch was raised by RBC Capital Markets LLC to outperform, the equivalent of buy, from sector perform.

Genworth Financial Inc. advanced 2.7% to $9.04. The seller of life insurance and long-term care coverage is in negotiations to sell a wealth-management unit, Reuters reported, citing two people it didn’t identify. The unit and the alternative investments business may be valued at $400 million to $450 million, Reuters said.

Nasdaq OMX Group Inc. climbed 3.5% to $30.50. The second-largest U.S. stock-exchange operator held talks about going private with Carlyle Group LP before discussions broke down over price, according to a person with direct knowledge of the matter. Rob Madden, a spokesman for Nasdaq OMX, declined to comment, saying the company doesn’t speak about “rumors or speculation.” Carlyle’s spokesman Randy Whitestone did not immediately return a call or email seeking comment.

Solar stocks rallied as Germany’s Wacker Chemie AG, the fourth-biggest maker of polysilicon, said it will increase production to meet demand from solar-power developers.

First Solar Inc., the world’s largest thin-film solar manufacturer, climbed 6.4% to $32.35 for the biggest advance in the S&P 500. SunPower Corp. jumped 14% to $9.05 while Yingli Green Energy Holding Co. gained 5.5% to $3.26.

Bloomberg News

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