Financial News (Site: Yahoo! Finance: US Market News)

• S&P 500 Leaders & Laggards: WFMI FRE DE PHM LEN (AP)
  Shares of Freddie Mac rose to record the largest gains on the Standard & Poor's 500 index Wednesday after the mortgage finance company posted a wider first-quarter loss, but beat analyst estimates.
• Stocks advance following better-than-expected inflation read (AP)
  Wall Street advanced Wednesday after a better-than-expected report on consumer prices tempered some of the market's concerns about inflation.
• Benign inflation and strong results lift Wall St (Reuters)
  Stocks rose on Wednesday in light trading after a modest rise in consumer prices in April cooled inflation fears while Macy's Inc and Freddie Mac posted reassuring quarterly results.
• Nasdaq 100 Leaders & Laggards: WFMI DISH STLD ERTS (AP)
  The Nasdaq 100 finished lower Wednesday after Whole Foods Market Inc. posted a lower fiscal second-quarter profit on hefty costs to integrate its purchase of Wild Oats Markets Inc.
• Wabtec shares drop after analyst downgrades (AP)
  Shares of Wabtec Corp. dropped Wednesday after an analyst downgraded the company due in part to the stock's recent uptick and worries over the effect of rising costs.
• Jack in the Box shares drop after 2Q disappoints (AP)
  Shares of Jack in the Box Inc. dropped more than 10 percent on Wednesday, after the fast food chain's same-restaurant sales missed forecasts in the fiscal second quarter and the company lowered sales expectations for the third quarter.
• WellCare shares dip on late 1Q results, outlook (AP)
  Shares of WellCare Health Plans Inc. fell Wednesday after the company added its 1st-quarter results to the list of late filings with the Securities and Exchange Commission as a federal investigation into the managed care provider continues.
• New York & Co. shares rise on upgrade (AP)
  Shares of New York & Co. rose on Wednesday, after an analyst said the women's apparel retailer's execution is improving amid a difficult environment and upgraded the stock.
• National Financial to join S&P 600, shares rise (AP)
  Shares of National Financial Partners Corp. jumped Wednesday after an analyst said the company's addition to the Standard & Poor's SmallCap 600 index should result in a short-term boost to the stock.
• Last Call: Anadigics falls on analyst downgrade (AP)
  Shares of Anadigics Inc. fell Wednesday after the maker of chips for cable television and wireless communication was downgraded to "Perform" from "Outperform" by Oppenheimer analyst George Iwanyc.
• Macy's, Freddie Mac among big market movers (AP)
  Stocks that are moving substantially or trading heavily Wednesday on the New York Stock Exchange and Nasdaq: NYSE Macy's Inc., up 87 cents at $24.93
• DJIA Leaders & Laggards: HPQ CAT (AP)
  Shares of Hewlett-Packard Co., Verizon Communications Inc. and Wal-Mart Stores Inc. rose Wednesday and helped send the Dow Jones industrial average to a higher close.
• True Religion CEO sells 3.2M shares (AP)
  The chief executive of jeans maker True Religion Apparel Inc. sold 3.2 million shares of common stock, according to a Securities and Exchange Commission filing Tuesday.
• Closing Glance: Utility stocks close higher (AP)
  Shares of utility companies closed mostly higher Wednesday as better-than-expected news about consumer prices lifted the broader market. The Dow Jones industrial average rose 66 points.
• Market Spotlight: Student lenders put to test (AP)
  Student loan providers are collecting less interest at a time when their capital costs are rising. This has caused losses for industry leader Sallie Mae, and forced CIT Group, Bank of America, Washington Mutual and NelNet Inc. out of certain corners of the market.
• Merrill Lynch to cap the number of 'buy' ratings (AP)
  Merrill Lynch & Co. is planning a new rating system for stocks that will require its analysts to assign at least one in five stocks that they follow with an "underperform" rating.
• Stepan's chief financial officer sells shares (AP)
  The vice president and chief financial officer of chemical company Stepan Co. sold 3,700 shares of common stock, according to a Securities and Exchange Commission filing.
• Cardiome shares down after 1Q results miss estimates (AP)
  Shares of Cardiome Pharma Corp. dipped Wednesday, a day after the Canadian drug developer reported a wider-than-expected first-quarter loss on less licensing fees and increased research and development spending.
• Microsoft Chairman Bill Gates sells shares (AP)
  Bill Gates, the chairman of software company Microsoft Corp., sold 3 million shares of common stock, according to Securities and Exchange Commission filings Tuesday.
• PetroQuest Energy director Finch sells 30,000 shares (AP)
  A director of PetroQuest Energy Inc. exercised options for 30,000 shares of common stock, according to a Securities and Exchange Commission filing Tuesday.