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Ratings agency Standard & Poor's downgraded Spain's government debt to just three notches above junk Friday. On Monday S&P lowered its rating for 11 Spanish banks, which are loaded with bad debt from a collapsed housing market. Among stocks making big moves: Barnes & Noble jumped 52 percent after Microsoft announced that it would invest $300 million to help Barnes & Noble compete with Amazon.com. The companies will create a subsidiary for Barnes & Noble's e-book and college textbook businesses. Microsoft also plans an application for Nook, Barnes & Noble's e-reader, on its Windows 8 tablets, which come out this fall. Microsoft's stock was flat. Health insurer Humana fell 8 percent after reporting a large drop in first-quarter profit as the company paid more in claims. The results fell short of Wall Street's expectations. NYSE Euronext, owner of the New York Stock Exchange, lost 5 percent after reporting that its income plunged in the first three months of the year. Revenue from its trading business was weak, and the company abandoned a merger with the European exchange operator Deutsche Boerse. Sunoco jumped 20 percent, the most of any stock in the S&P 500. The fuel-refining company agreed to be bought by Energy Transfer Partners, an operator of natural gas pipelines, for $5.3 billion.
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