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Situational awareness:

  • Apollo Global Management will buy Shutterfly and Snapfish, intending combine the 2 into a major player in online-photo services. (WSJ)
  • Huawei's chief strategy officer said the company no longer expects to become the world's largest smartphone maker this year. (Reuters)
  • The average cost of a gallon of gasoline has fallen for 5 straight weeks, putting many Americans on track to pay much less for fuel this summer. (WSJ)