Stocks edge lower in midday trade, bringing indexes below records; Micros gains on Oracle deal

The Associated Press

Trader Luigi Muccitelli works on the floor of the New York Stock Exchange Monday, June 23, 2014. Stocks are edging lower in early trading after indexed closed last week at record highs. (AP Photo/Richard Drew)

Associated Press + More

NEW YORK (AP) — Stocks are edging lower in midday trading after indexes closed last week at record highs.

The Dow Jones industrial average slipped 40 points, or 0.2 percent, to 16,907 as of noon Eastern time Monday.

The Standard & Poor's 500 index fell two points, or 0.1 percent, to 1,960. The Nasdaq composite lost five points, or 0.1 percent, to 4,362.

Micros Systems rose 3 percent after the business software maker Oracle said it was buying the company for $5.3 billion.

Wisconsin Energy fell 2 percent following news that the company would buy Integrys Energy. Integrys rose 13 percent.

The yield on the 10-year Treasury note was little changed at 2.60 percent.

The price of crude oil dropped 77 cents, or 0.8 percent, to $106.06 a barrel.

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