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NEW YORK (AP) — Stocks are rising in afternoon trading on Wall Street, poised to extend a winning streak that has erased most of this year's early losses. Health care stocks are recovering after a punishing week. Starwood Hotels and Columbia Pipeline Group are climbing after they each agreed to be acquired.
NEW YORK (AP) — General Mills says it will start labeling products across the country that contain genetically modified ingredients to comply with a law that is set to go into effect in Vermont. The Minneapolis-based maker of Cheerios cereal, Progresso soups and Yoplait yogurt notes it is not practical to label its products for just one state, so the disclosures required by Vermont starting in July will be on its products throughout the U.S.
DEERFIELD, Ill. (AP) — Walgreens is spending nearly $1.2 billion to build its stake in AmerisourceBergen, the pharmaceutical wholesaler that supplies its drugstores, mail order and specialty pharmaceutical businesses. The nation's largest drugstore chain says it will own a 15 percent stake after exercising warrants to purchase 22.7 million shares.
FREEPORT, Maine (AP) — Outdoors specialty retailer L.L. Bean says sales were flat this past year after five consecutive years of growth. CEO Steve Smith says the 104-year-old company in Freeport, Maine, "performed well given a challenging retail environment." The family-owned company says revenue hit $1.6 billion in its fiscal year that ended Feb. 28.
CHARLESTON, W.Va. (AP) — Lawyers for former Massey Energy CEO Don Blankenship say he can withhold personal financial information under a constitutional right to remain silent during sentencing. Prosecutors disagree, saying that would prevent them from determining whether he altered his finances to avoid paying fines or restitution. Blankenship was convicted of conspiracy to violate mine safety standards at Upper Big Branch Mine, where an explosion killed 29 men in 2010. Prosecutors want him to pay $28 million in restitution to the now-bankrupt company that bought Massey in 2011.
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