June 30, 2008 at 11:00 AM EDT
Opening Bell Report

The markets opened mixed as investors continued to worry about higher oil prices stifling consumer spending and continued deterioration in the financial services sector. The Dow added 8 points to 11,355 while Nasdaq lost 3 points to 2311.

On the upside

H&R Block (NYSE: HRB) posted higher revenues and a return to profitability as the nation's largest tax preparer focused on its core business and sold off its Option One mortgage business.

France Telecom (NYSE: FTE) dropped plans for a $42 billion takeover bid for TeliaSonera. The combination would have created Europe's largest telecommunications company.

Late Friday, News Corp. (NYSE: NWS) and a private equity firm offered $60 a share in cash to buy out public shareholders of its subsidiary NDS Group PLC (Nasdaq: NNDS), a British company that makes technology for pay TV services.

On the downside

Shares of Ford (NYSE: F) and General Motors (NYSE: GM) fell ahead of their June sales reports. Rumors swirled around the possibility of the automakers going bankrupt.

Shares of Wachovia (NYSE: WB) fell to a 25-year low as investors worried about the possibility of new capital diluting existing shareholders.

Shareholders approved the issuance of more stock to shore up mortgage insurer MGIC Investment Corp. (NYSE: MTG).

In the broad market, advancing issues outpaced decliners by a very narrow margin on the NYSE, but were edged out by margin of 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 697.

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