Company: Applied Materials Inc

Stocks extended their losses in the final hour of trading to close near lows Thursday, after Fitch took negative action on Greece's ratings and following several disappointing economic reports.

A former paralegal at a semiconductor company and her father have settled insider trading charges filed after regulators alleged they illegally profited on prior knowledge of Semitool Inc.'s 2009 sale to Applied Materials Inc.

(Reuters) - Microchip Technology Inc <MCHP.O> will acquire smaller rival Standard Microsystems Corp <SMSC.O> for about $830 million, gaining access to the lucrative market for electronics used in automobile entertainment systems.

The semiconductor manufacturer reported quarterly earnings and revenues that beat analysts' expectations, sending its shares higher in after-hours trading on Thursday.

Stocks ended near session highs Thursday, with the Dow and Nasdaq logging multi-year highs, fueled by robust economic news and as the euro rebounded against the dollar following reports the euro zone central banks agreed to exchange their existing Greek bonds for new ones.

Stocks dropped heavily in the final hour of trading to finish sharply lower in thin trading Thursday following a report from Fitch on U.S. bank exposure to Europe.