IBT Staff Reporter

Fears that the huge Gulf of Mexico oil spill was spreading through ocean currents flared on Tuesday after tarballs were found on Florida's Key West, while energy giant BP Plc worked to capture more of the leaking crude.

Wal-Mart Stores Inc's quarterly results beat Wall Street expectations, as a curb on costs helped the world's largest retailer overcome weaker U.S. same-store sales, sending shares up 3 percent.

U.S. stocks declined in choppy trading on Tuesday as the euro's weakness raised concerns about the impact on technology companies' sales and worries over Europe's debt problems resumed.

U.S. stocks extended declines in choppy trade on Tuesday as shares of chip makers weighed, while worries over Europe's debt problems resumed.

Stocks were set to open higher on Tuesday as euro-zone finance ministers worked to refine a 750 billion euro ($925 billion) bailout plan and Wal-Mart and Home Depot posted solid earnings.

Exchanges are expected to introduce new trading curbs known as circuit breakers for large U.S. stocks over a six-month pilot program, as regulators move to avoid a repeat of the severe market plunge on May 6, two people familiar with the talks said on Tuesday.

The light-emitting diode sector is growing fast, especially in niche markets such as the car industry, but LED bulbs will not be a mass consumer item for some time, developers and experts said on Tuesday.

Wal-Mart Stores Inc posted quarterly results that beat Wall Street expectations, but said second-quarter earnings could fall short of Wall Street estimates as its shoppers remain under pressure.

Drugmaker Pfizer Inc will cut 6,000, or 18 percent, of jobs at its 78 manufacturing plants over the next five years as it consolidates operations following last year's purchase of smaller rival Wyeth.

Stocks rose on Tuesday on hopes euro-zone officials were making progress on a package of measures to resolve a debt crisis as well as solid earnings from a host of retailers, including Wal-Mart.

Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday and can now repay its immediate debt, but still faces a mammoth task to claw its way out of recession.

Home Depot Inc boosted its forecast for the year after a strong spring selling season, but investors questioned the strength of sales trends for the home improvement industry during the rest of 2010.

Fidelity National Information Services Inc confirmed that talks regarding the sale of the company have ended, and the payment processor plans to borrow heavily to buy back shares.

A discovery of tar balls on Florida's Key West fanned fears on Tuesday that a massive Gulf of Mexico oil spill was spreading through ocean currents, as energy giant BP Plc worked to capture more of the crude leaking from its gushing deep-water well.

Energy giant BP said on Tuesday it was now able to siphon off about 40 percent of the oil gushing from a ruptured well in the Gulf of Mexico but has not been able to stop the leak, as President Barack Obama is to create a commission to probe the spill.

Oil rose more than 3 percent to above $72 a barrel on Tuesday, recovering from a five-month low the previous session, but high inventory levels and the strength of the dollar were expected to limit gains.

Eman AbdelRahman is one of 200,000 people who have signed up on Facebook to back Mohamed ElBaradei, the former U.N. nuclear boss who has said he wants to shatter 30 years of political stasis in Egypt by running for president.

More than 80 independent oil and gas producers have sued units of Goldman Sachs Group Inc and BP Plc , alleging they conspired with SemGroup LP to defraud the plaintiffs of money owed for oil and gas delivered prior to the energy trader's 2008 bankruptcy.

Producer prices eased in April and costs excluding food and energy remained contained, suggesting inflation is not a near-term concern for officials at the Federal Reserve.

Housing starts rose more than expected in April to touch their highest level since October 2008 likely on the back of a home buyer tax credit, but permits hit a six-month low, a government report showed on Tuesday.

Wal-Mart Stores Inc posted higher-than-expected quarterly profit on Tuesday, as strong growth in international markets helped offset a greater-than-expected drop in comparable sales at its U.S. discount stores.

German carmaker BMW plans to take its 5 Series ActiveHybrid concept into full-scale production as early as next year and expects to introduce the dual-powertrain technology into its smaller 3 Series.

Manhattan-based designers Chris and Lisa Goode of Goode Green are pioneers in the green roof movement in New York.

Harvard University paid its top six money managers $26.7 million in 2008 and said that future compensation would be tied more directly to the performance of the endowment.

Thailand's economy was recovering well this year until anti-government protesters started a mass rally in Bangkok in the middle of March, which has sparked the country's deadliest political violence in 18 years.

U.S. housing starts touched a 1-1/2 year high in April, but a drop in permits to a six-month low suggested housing market recovery will remain slow.

Fidelity National Information Services Inc confirmed that talks regarding the sale of the company have ended, and the payment processor will now go for a leveraged recapitalization with a substantial share buyback.

Stock futures rose on Tuesday as euro-zone finance ministers worked to iron out wrinkles in a 750 billion euro ($925 billion) bailout plan and Home Depot posted solid earnings.

German investor sentiment fell sharply in May on concern growth will be stifled by a 750-billion-euro ($930 billion) rescue package designed to calm market fears of a wave of Greek-style debt crises.