IBT Staff Reporter

U.S. stocks fell on Wednesday with the S&P 500 stalled near a 10-month-old high after weak data on Europe's business activity raised concerns about a recession.

Garmin Ltd's quarterly results blew past estimates as revenue from personal navigation devices grew on improved pricing, and demand for its outdoor and fitness GPS products rose, sending its shares to their highest in nearly four years.

Citigroup Inc and UBS AG , in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest rate, according to people familiar with the situation.

Microsoft has asked EU antitrust regulators to intervene in a patent dispute with Google and Motorola Mobility as it stepped up its battle against the Internet search giant.

Goldman Sachs said fundraising across alternative asset classes, particularly credit and real estate, remains robust in a low-rate, low-risk world, and sees more value in the stocks of asset managers that have a diverse mix.

Thousands of protesters angry at punishing spending cuts poured into Athens' central Syntagma Square on Wednesday as Greek lawmakers rushed to pass laws needed to secure payment of a second bailout for the debt-laden country.

Shares of Los Gatos, Calif.-based Netflix were down more than 4 percent Wednesday following a day earlier announcement that Comcast was jumping into the online streaming foray.

General Motors and PSA Peugeot Citroen are discussing a manufacturing alliance designed to stem losses in Europe and reduce production costs elsewhere, sources with knowledge of the matter said.

Some public agencies that rely on the municipal bond market for financing fear that a landmark financial reform rule will cripple their ability to sell bonds and make it more expensive to raise money for crucial services.

The Consumer Financial Protection Bureau said Wednesday it is asking banks about overdraft fees for checking accounts and the effect they have on consumers.

Switzerland announced plans on Wednesday to force banks to do more to make sure foreign clients' money is taxed in an attempt to shake off its past as a haven for untaxed funds as it seeks to put an end to a damaging U.S. tax probe.

Stocks were little changed on Wednesday as an encouraging U.S. housing report offset soft euro zone data, while the S&P 500 struggled to break through a high not seen since last May.

Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

Garmin Ltd reported a rise in revenue from personal navigation devices for the first time in several quarters, helping it smash analysts' expectations.

Nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010, according to a report released on Wednesday by the research firm Javelin Strategy & Research.

U.S. stocks opened slightly lower on Wednesday, putting the S&P 500's three-day winning streak in jeopardy after weaker-than-expected euro zone economic data.

France Telecom is cutting its dividend and putting off a promised share buyback to conserve cash in the face of brutal competition from a new mobile player and Europe's ongoing debt crisis.

The euro zone economy is in danger of tipping into recession, with the services sector shrinking this month along with manufacturing, tempering a wave of optimism after a new bailout deal for Greece struck this week.

Wall Street stocks were poised for a modestly lower open on Wednesday, putting the three-day winning streak for the S&P 500 in jeopardy after weaker-than-expected euro zone economic data and ahead of a report on the U.S. housing market.

Applications for U.S. home mortgages tumbled last week as demand for loan refinancing sagged, an industry group said on Wednesday.

The European Union's executive said on Wednesday it would refer a disputed global anti-piracy agreement to the bloc's highest court, to see whether it complied with the EU's fundamental rights.

Greek unions, the unemployed and communists will protest on Wednesday against spending cuts introduced to secure a multi-billion-euro bailout, and lawmakers will debate a debt swap to avoid imminent bankruptcy.

British chipmaker CSR Plc underscored its financial strength on Monday with a share buyback of up to $50 million, helping send its shares up more than 20 percent to their highest in six months.

Apple Inc Chief Executive Tim Cook is in an enviable position - market leading products, a $98 billion warchest and a seemingly gravity-defying stock price.

U.S. stock index futures slipped on Wednesday, indicating the S&P 500 may snap a three-day winning streak after weaker-than-expected euro zone economic data and ahead of a report on the U.S. housing market.

Nokia will next week unveil a new, cheaper smartphone using Microsoft's Windows Phone software, targeting a wider market for its new range of smartphones, two sources close to the company said.

U.S. stock index futures slipped on Wednesday, indicating the S&P 500 may snap a three-day winning streak after weaker-than-expected euro zone data and ahead of a report on the U.S. housing market.

Shares of Dell Inc fell more than 7 percent in premarket trading on Wednesday, after the world's No.3 personal computer maker forecast weak sales for the current quarter.

Multi-millionaire crane owner James Lomma begins trial for charges of manslaughter.