Restaurant chain Sonic (SONC) was down in midday trading Tuesday after reporting weaker comparable-store sales in its third-quarter. The company said the decline was due to harsh weather in some of the regions in which it operates. The $4.4 billion Verizon (VZ), AOL deal has been completed. AOL will operate as a subsidiary of Verizon. Stocks were narrowly mixed with much of the goodwill over a potential Greek debt deal spent after yesterday’s rally. New home sales in May grew at their fastest since February 2008. That’s just the latest sign of a robust housing recovery after yesterday’s data showed existing home sales in May rise at their fastest rate in six years.
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