NEW YORK — Just how nervous are investors about Greece? All it took to derail a day of stock market gains was a headline saying that Greece was preparing to leave the euro, an outcome most analysts already had expected.
Major indexes were higher for most of the day after the National Association of Realtors reported that home prices surged 10 percent over the past year, the biggest gain in six years.
Then, with less than an hour of trading left, Greece’s former prime minister said the country was considering dropping the euro. A 50-point gain in the Dow Jones industrial average turned into a 57-point loss, but a last-minute recovery left it down just 1.67 at 12,502.81.
The Nasdaq composite dropped 8.13 to 2,839.08. The S&P 500 inched up 0.64 to 1,316.63.
AAA Carolinas estimated Tuesday that 437,000 South Carolinians are expected to take to the road for the long Memorial Day weekend. Gas prices in the state averaged $3.34 a gallon Tuesday, down 28 cents from last year on May 22.
An estimated 500,000 South Carolinians are expected to travel more than 50 miles, with the number of people flying down more than 5 percent.
NEW YORK — Best Buy said Tuesday that its fiscal first-quarter profit dropped 26 percent to $158 million on restructuring charges as the struggling electronics retailer began implementing a turnaround plan. Revenue rose 2 percent to $11.61 billion, aided by an extra week.
Its adjusted earnings and revenue both topped Wall Street’s expectations. That’s sorely needed good news for the electronics chain as it attempts a restructuring to update its increasingly outmoded “big-box” store model.
Best Buy said U.S. sales growth in tablets, mobile phones, e-readers and appliances helped offset declines in notebooks, gaming, digital imaging and TVs.
Revenue in stores open at least 14 months fell 5.3 percent during the quarter.
FORT WORTH, Texas — Southwest Airlines said Tuesday it will lease all 88 of its Boeing 717 airplanes to Delta Air Lines. Southwest received the planes as part of its acquisition of AirTran Airways and has been looking at alternatives for the aircraft type.
The agreement would transition the 717s over three years starting in the second half of 2013, Southwest said. Southwest said it will replace the 717s with 737s and would train pilots to transition to its 737 fleet.
Delta said it plans to use the 117-seat jets to replace 50-seaters and some older DC-9s.
SAN FRANCISCO — Google has completed its $12.5 billion purchase of device maker Motorola Mobility in a deal that poses new challenges for the Internet’s most powerful company as it tries to shape the future of mobile computing.
The deal closed Tuesday, nine months after Google made a surprise announcement that it wanted to expand into the hardware business.
The purchase pushes Google deeper into the cellphone business.