Dow Ends Down 121, Nasdaq Ends Down 33

%mlink(STRY:v5674; PHOTO:NYHA106-0627061842; AUDIO:%)

NEW YORK (AP) _ Wall Street slumped Tuesday as investors looked past another round of acquisitions and grew increasingly anxious about the Federal Reserve's upcoming decision on interest rates. The Dow Jones industrials tumbled more than 120 points.

Consumer Confidence Posts Gains in June

%mlink(STRY:v5618; PHOTO:FX121-0626061336; AUDIO:%)

NEW YORK (AP) _ Consumer confidence rose in June and existing home sales fell less than expected in May, providing signs that the economy remains resilient and that the Federal Reserve may need to tighten credit policy more.

Oil Prices Settle Near $72 a Barrel

%mlink(STRY:v5630; PHOTO:NYHA101-0627060632; AUDIO:%)

WASHINGTON (AP) _ Oil prices rose slightly on Tuesday as traders focused on shipping delays along the Gulf Coast and as Iran's supreme leader rejected the need for nuclear talks with the United States.

Nike 4Q Profit Falls 5 Percent to $332.8M

%mlink(STRY:v5658; PHOTO:FX101-0626061026; AUDIO:%)

BEAVERTON, Ore. (AP) _ Athletic footwear and apparel designer Nike Inc. reported a 5 percent drop in fourth-quarter earnings on Tuesday, as charges related to the Converse arbitration ruling and tighter margins offset an 8 percent increase in revenue.

McClatchy Closes Deal for Knight Ridder

%mlink(STRY:v5694; PHOTO:NYBZ105-0512061614; AUDIO:%)

NEW YORK (AP) _ McClatchy Co. said Tuesday it had completed its acquisition of Knight Ridder Inc., making it the second-largest newspaper publisher in the country in terms of circulation.

Univision Board Accepts Consortium Offer

%mlink(STRY:v5713; PHOTO:NY109-0804041437; AUDIO:%)

LOS ANGELES (AP) _ The board of Spanish-language media giant Univision Communications Inc. accepted a $12.3 billion acquisition offer from a consortium of private investors, but the wrangling to take control of the media giant may not be over.

Citizens Banking to Buy Republic Bancorp

%mlink(STRY:v5669; PHOTO:; AUDIO:%)

DETROIT (AP) _ Citizens Banking Corp. has agreed to buy Republic Bancorp Inc. for about $1.05 billion in cash and stock to form a new Midwestern regional bank called Citizens Republic Bancorp, the two Michigan-based companies said Tuesday.

Judge Approves Sale of Adelphia Assets

%mlink(STRY:v5680; PHOTO:; AUDIO:%)

NEW YORK (AP) _ A bankruptcy judge on Tuesday granted Adelphia Communications Corp. permission to sell its assets to Time Warner Corp. and Comcast Corp. in an estimated $17 billion deal.

Tribune: Contested Buyback Plan Successful

%mlink(STRY:v5700; PHOTO:NYBZ103-0601061202; AUDIO:%)

CHICAGO (AP) _ Tribune Co. declared its contested stock buyback plan a success Tuesday, announcing that stockholders tendered most of the shares it sought despite outspoken opposition by the Chandler family _ now about to become its largest shareholder.

Feedlot Operations Irk Farmers, Consumers

%mlink(STRY:v5706; PHOTO:NYBZ221-0531061141; AUDIO:%)

JORDAN, Minn. (AP) _ The cows on Pam and Jeff Riesgraf's farm chomped happily away on lush green grass on a warm, sunny afternoon. Their milk would soon find its way to grocery stores, where organic dairy products are a hot item.