Market Roundup (VZ, GOOG, STT, EMMS, GS, XOM, SPG, GGP, RIMM)

Verizon Wireless (NYSE: VZ) has turned off its plans to offer service for the Nexus One handset from Google (NASDAQ: GOOG). The change in plans signals that Verizon may be viewing GOOG as more of a competitor than a partner. However, the Nexus One site continues to announce the introduction of the phone at Verizon soon.

EU trading ended on the note that State Street (NYSE: STT) has acquired the securities services arm of Italy's biggest retail bank, Intesa Sanpaolo (OTC: ISNPY.PK), in a $2.5 billion deal.

Private equity firms JS Acquisition and Alden Global Capital have offered $2.40 a share for Emmis Broadcasting (NASDAQ: EMMS). The price reflects $0.10 a share premium over EMMS’ April 23 close.

According to John Dorfman, it is unclear who will win the case - the SEC or Goldman Sachs (NYSE: GS) - if the case alleging fraud goes to trial. However, he believes that investors should buy Goldman either way. He reminded traders of Exxon's (NYSE: XOM) devastating oil spill 21 years ago and around 1,000% return from the stock ever since.

General Growth Properties (NYSE: GGP) said its bankruptcy court hearing has been postponed till May 4. This has given it more time to talk to investors such as rival Simon Property Group (NYSE: SPG).

Research in Motion (NASDAQ: RIMM) shares fell more than 2% after analysts’ hopes of co-CEO Jim Balsillie sharing some tidbits about a new operating system or browser at the meeting were crushed. There is a possibility of some news still coming in as co-CEO Mike Lazaridis still has to address the crowd later in the session.

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