SunEdison falls more than 50% after report of bankruptcy plans

SunEdison Inc. stock, which has been plunging amid an investigation by the Securities and Exchange Commission, was cut in half in late trading Friday after a report that the company is preparing to declare bankruptcy. The Wall Street Journal reported Friday afternoon that SunEdison plans to to file for bankruptcy in the coming weeks, and is in talks with creditor groups about bankruptcy financing. The report follows the solar-power company’s announcement earlier this week of an SEC investigation into its public disclosures about the amount of cash it had available. Shares fell more than 50% in after-hours action following the report, hitting 22 cents after closing with a 14.9% decrease at 46 cents. Before the late decline, SunEdison stock had declined 91% so far this year and more than 98% in the past 52 weeks.

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U.S. stocks end higher after jobs, economic data

U.S. stocks closed higher Friday as investors bet that a spate of economic data, including the March jobs report, wouldn’t speed up the pace of interest-rate increases. The S&P 500 gained 13.05 points, or 0.6%, to 2,072.79 — bolstered by health-care and consumer-staples shares like Walgreens Boots Alliance . The index gained 1.8% on the week, its strongest performance in a month. The Dow industrials gained 107.73 points, or 0.6%, to 17,792.82, led higher by Goldman Sachs Group Inc. and Visa Inc. . The blue-chip gauge rose 1.6%, its strongest gain in two weeks. The Nasdaq Composite gained 44.69 points, or 0.9%, to 4,914.54 for a weekly gain of 3% — its best performance in six weeks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News