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August 15, 2011 01:22 PM

Monday Afternoon Business Brief

Another day of relative calm for the U.S. Stock market. The Dow has been up 100 points or more during most of today's session so far.
  • Royal Dutch Shell estimates that about 55,000 gallons of oil have spilled into the North Sea from a rig off Scotland's coast. The Gannet Alpha oil rig is operated by Shell and co-owned by Shell and Exxon Mobil's Esso.
  • Home improvement retailer Lowe's says second-quarter net income was nearly flat. And it is cutting its sales forecast for the second half of its fiscal year because of consumer uncertainty.
  • Shares of Motorola Mobility Holdings have risen more than 50 percent at midday. That's in reaction to news that Google is buying the cell phone maker for $12.5 billion in cash.
  • Time Warner Cable will buy Insight Communications for $3 billion in cash, looking to boost its Midwestern presence. The privately held cable operator serves more than 750,000 customers in Indiana, Kentucky and Ohio.