Stocks Steady Ahead of Brexit Vote

Stocks Steady Ahead of Brexit Vote

NEW YORK (AP) -- U.S. stocks are hardly budging Tuesday morning, a day after posting big gains. Technology companies rose, while energy companies fell along with the price of oil.

KEEPING SCORE: The Dow Jones industrial average was up 4 points at 17,809 as of 10:20 a.m. Eastern time. The Standard & Poor's 500 index was little changed at 2,083. The Nasdaq composite rose 2 points, or 0.1 percent, to 4,839.

ALL EYES ON BRITAIN: Opinion polls and betting markets indicate that Britons are more likely to vote to remain in the European Union in a referendum Thursday. Uncertainty about the outcome has weighed on global markets, and polls suggest the result will be close.

SCIENCE DEAL: American Science & Engineering, which makes X-ray inspection systems, agreed to be acquired by airport security and full-body scanner manufacturer OSI Systems Inc. OSI will pay $37 per share, or $263.9 million. American Science & Engineering's stock jumped $4.46, or 13.8 percent, to $36.80.

WERNER WARNING: Transportation and logistics company Werner Enterprises forecast disappointing second quarter results. It said sluggish freight market conditions are hurting rates, as are the costs associated with an increase in pay for drivers. The stock lost $1.86, or 7.5 percent, to $22.82.

TECH CLIMBS: Apple picked up 82 cents to $95.92 while Facebook rose $1.55, or 1.4 percent, to $114.92. Red Hat gained $1.70, or 2.2 percent, to $80.58.

ENERGY: Benchmark U.S. crude shed $1.18, or 2.4 percent, to $48.19 per barrel in New York. Brent crude, used to price international oils, fell $1.16, or 2.3 percent, to $49.78 a barrel in London. The price of oil rose about 7 percent over the last two days.

IMPAX SLACKENS: Generic drug maker Impax Laboratories tumbled after it agreed to pay $586 million for a group of generic drugs owned by Allergan and Teva Pharmaceutical Industries. Those companies had to sell the products because Allergan is buying Teva's generic drugs business. Impax lost $2.90, or 9.1 percent, to $29.70.

IMPERVIOUS: Data security software company Imperva climbed $4.21, or 10.4 percent, to $44.65 after Elliott Capital, the firm run by activist investor Paul Singer, disclosed a stake.

HOME SWEET HOME: Lennar, the second-largest U.S. homebuilder, said it put up more homes at higher prices in the second quarter. It also said new orders jumped 10 percent. Its stock rose 67 cents, or 1.4 percent, to $47.33.

OVERSEAS: Germany's DAX rose 0.4 percent and France's CAC 40 advanced 0.5 percent, also adding to large gains on Monday. However Britain's FTSE 100 edged down 0.2 percent. Tokyo's Nikkei 225 rose 1.3 percent and Hong Kong's Hang Seng added 0.7 percent while Seoul's Kospi gained 0.1 percent.

BONDS, CURRENCIES: Bond prices recovered from Monday's skid. The yield on the 10-year U.S. Treasury note fell to 1.68 percent from 1.69 percent. The dollar rose to 104.46 yen from 103.96 yen. The euro fell to $1.1254 from $1.1314. The British pound edged back to $1.4666 from $1.4693 after a big jump Monday.

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