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NEW YORK (AP) — U.S. stocks are skidding as energy stocks take big losses. Also down are companies including Xerox and drugmaker Perrigo, which reported disappointing quarterly earnings and lowered their expectations for the year. The Dow was down 61 points to 17,942 as of 1:53 p.m. Eastern time. The S&P index lost 7 points to 2,084. The Nasdaq composite slid 15 points to 4,891. Benchmark U.S. crude inched down 74 cents, or 1.7 percent to $44.72.
NEW YORK (AP) — USA Today publisher Gannett is offering to buy Tribune Publishing for approximately $388.3 million. Gannett is offering $12.25 in cash for each Tribune share -- a 63 percent premium to Tribune's Friday closing price of $7.52. Tribune's properties include the Los Angeles Times, Chicago Tribune and other newspapers. Last month the company announced a reorganization and in February it named a new CEO. The companies put the deal's total value at about $815 million, which includes about $390 million of outstanding debt.
DETROIT (AP) — The U.S. government says it has closed an investigation into Honda's failure to report deaths and injuries. The National Highway Traffic Safety Administration says Honda has met its obligations of paying a $70 million fine and taking steps to make sure similar failures don't happen again. The government fined Honda in December of 2014. At the time it was the largest civil penalty levied against an automaker.
UNDATED (AP) — Depomed is taking steps to ease the pain of a protracted battle with activist investor Starboard Value over control of the drugmaker. The pharmaceutical company says its board has amended its shareholder rights plan, which allows Starboard to immediately submit its request for a special meeting. Starboard has said it wants that meeting so it can replace Depomed's board. The hedge fund is leading a shareholder mutiny at Yahoo as well.
FRANKFURT, Germany (AP) — Deutsche Bank co-CEO Juergen Fitschen has been acquitted of attempted fraud charges related to the bank's long-running battle with a now-deceased media mogul. Also acquitted were Fitschen's predecessors as CEO, a former board chairman and a top executive. Prosecutors said they had tried to deceive an appeals court in an attempt to shield Deutsche Bank from damages sought by the heirs of Leo Kirch. Kirch had claimed a former Deutsche Bank co-CEO's statements in a 2002 TV interview led his media empire to go bankrupt.
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