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Evening Business Brief

April 15, 2011, 5:30 PM

Evening Business Brief
Wall Street ended the session with gains. The Dow was up 57 points to 12,342. The S&P added 5 points, while the Nasdaq rose 4 on the day.
  • Google shares ended sharply lower on the day, down $47.81 to $530.70. Investors reacted to news that expenses at the Internet search giant had grown much faster than its revenue in the latest quarter as it hired more employees. 
  • Benchmark West Texas Intermediate crude for May delivery rose $1.55 to settle at $109.66 per barrel on the New York Mercantile Exchange. At one point, crude was trading above $110.
  • In Washington, the House has passed a Republican budget blueprint proposing to fundamentally overhaul Medicare for future beneficiaries while combating budget deficits.  It would impose sharp spending cuts on social safety net programs like food stamps and Medicaid.
  • Former New York state comptroller Alan Hevesi has been sentenced to one to four years in prison for his leading role in influence-peddling at the state's massive pension fund. The Democrat had been forced from office by a separate misconduct scandal in 2006.

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