U.S. Stocks Erase Loss Amid Buying Ahead of Index Changes
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U.S. stocks erased losses in the final 15 minutes, sending the Standard & Poor’s 500 Index to a second weekly gain, as investors bought shares before changes to MSCI Inc. indexes amid federal budget talks.
MetroPCS Communications Inc. rallied 5 percent as Guggenheim Securities LLC said the wireless carrier could get a bid from Sprint Nextel Corp. VeriSign Inc. plunged 13 percent, the most in the S&P 500, after a new contract letting the company manage Web sites ending in .com limited price increases. Yum! Brands Inc. lost 9.9 percent after saying same-store sales in China will decline. Zynga Inc. dropped 6.1 percent after loosening terms of its longstanding alliance with Facebook Inc.