Market Overview

Market Update


Shares of Sony Corp (NYSE: SNE) dropped about 0.6% after Samsung Electronics Co and Sony agreed to end their LCD joint venture. Samsung will pay around $940 million for Sony's share in the venture.

Shares of Endeavour International Corp (NYSE: END) surged about 11.4% after the company reported that its unit has agreed to acquire ConocoPhillips' interest in 3 producing UK oil fields in the Central North Sea for $330 million. Endeavour projects the deal to close in the first half of 2012.

Shares of MetLife Inc (NYSE: MET) gained about 1.8% after the company reported that GE Capital Financial Inc will buy most of its US retail deposit line. The financial terms of the deal were not disclosed. The deal is likely to close in the second quarter.

Shares of France Telecom SA (NYSE: FTE) dropped about 0.4% after the company announced its plans to sell its Swiss unit, Orange Switzerland, to private equity firm Apax Partners. France Telecom will sell its unit for EUR1.6 billion.

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