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May 16- Computer Sciences Corp agreed to pay $97.5 million to settle a lawsuit accusing it of defrauding shareholders by hiding a variety of accounting problems.
*Internet shares among day's gainers; Google hits new high. But shares of Apple's rival Google shot up to a new record high at $916.38 on news that it has adopted a streaming music business model. Google closed at $915.89, up 3.3 percent.
*Upward momentum persists, Internet shares among day's gainers. *Apple leads Nasdaq lower; hedge fund cuts stake in the company. NEW YORK, May 15- U.S. stocks edged up on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted, but a steep decline in Apple kept gains in check.
*Empire State Index contracts, PPI shows weak inflation pressure. NEW YORK, May 15- U.S. stocks climbed on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted and offset some weak economic data.
U.S. mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor.
With the Dow sitting at an all time high, where in the market can you still find value?
Stocks finished higher Tuesday, wiping out most of the previous session's losses, boosted by a batch of encouraging earnings reports and positive economic data from Europe.