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Byline: NANCY GONDO
NYSE stocks sank through most of Monday, but pared losses late in the session. The Dow, down as much as 1% intraday, fell 0.7%. The S&P 500 ended with a 0.6% deficit after losing up to 1.1%. The SmallCap S&P 600 shed 0.4%. NYSE volume rose.
Federated Department Stores and May Department Stores each edged lower on at least six times usual trade after Federated said it'll buy May in an $11 billion deal.
Crude oil prices climbed 26 cents to $51.75 a barrel. But that didn't stop many oil and gas stocks from sliding.
PetroKazakhstan rose to a new high at the open and reversed to a loss before settling for a 1.25 decline to 43.75 on brisk turnover. Analysts expect the Canadian energy firm to grow fourth-quarter earnings 55% when it gives results Thursday.
Independent petroleum refiner Valero Energy pared a 10% intraday loss to close down 1.66, or 2%, at 71.24 on triple usual trade. Among other energy issues, Goodrich Petroleum fell 1.51 to 22.57, Premcor 1.88 to 54.88, Denbury Resources 1.79 to 33.97 and ConocoPhillips 1.43 to 110.89, all on at least twice average volume.
NS Group slid 1.78, or 5%, to 34.21 ...