10:30 AM New York – AIG released first quarter preliminary pre-tax insurance loss of $1.0 billion. AT&T agreed to acquire T-Mobile from Deutsche Telekom for $39 billion. Charles Schwab agreed to acquire optionsXpress for $1 billion in stocks. Tiffany fourth quarter net income soared to $181.2 million.

Of 30 the stocks in the Dow, 28 increased and 1 decreased and 1 unchanged.

Of the stocks in the Dow Jones Industrial Average, The Boeing Company led the gainers with a rise of 3.17%, followed by increase in Microsoft Corporation of 2.94%, in 3M Company of 2.92%, in Exxon Mobil Corporation of 2.71%, in Verizon Communications Inc. of 2.71%.

Kraft Foods Inc. led the decliners with a fall of 0.61%.

Other Movers

Anadarko Petroleum Corporation (APC) increased 2.8% or $2.23 to $79.50 after the oil and natural gas explorer agreed with a subsidiary of Korea National Oil Corporation to sell one-third stake of Anadarko''s interest in the company''s Maverick Basin assets located at southwest Texas for $1.55 billion. Closing of transaction is anticipated in the second quarter.

American International Group, Inc. (AIG) gained 3.7% or $1.30 to $36.25 after the insurance company released preliminary pre-tax insurance loss for Chartis, property casualty insurance unit of $1.0 billion or $0.9 billion after tax for the first quarter of 2011. This preliminary estimate excludes losses arising from AIG''s general insurance operations in Japan.

AT&T Inc. (T) increased 1.4% or 39 cents to $28.33 after telecommunications service provider announced a deal to acquire T-Mobile from Deutsche Telekom for $39 billion. Deutsche Telekom increased 13% in New York trading.

Citigroup Inc (C) fell 0.8% or 4 cents to $4.46 after increased 3 cents to $4.53 after it announced 1 cent dividend reinstatement from the second quarter and a 10-for-1 reverse stock split.

KeyCorp (KEY) slipped 1.2% or 11 cents to $8.81 after the banking company sold 70.6 million shares at $8.85 each to raise $625 million.

NYSE Euronext (NYX) rose 0.3% or 13 cents to $34.72 after the exchange operator filed a plan to sell 52.8% of an option platform to seven companies to increase trading including Glodman Sachs and Citadel LLC.

Sprint Nextel Corporation (S) tumbled 15% or 73 cents to $4.32 after AT&T agreed to acquire T-Mobile for $39 billion and raised competitive bar.

SunTrust Banks Inc (STI) fell 0.3% or 1cents to $29.58 after diversified financial services holding company sold 35.3 million shares for $29.50 to raise $1.04 billion.

The Charles Schwab Corporation (SCHW) fell 0.6% or 11 cents to $17.45 after the financial holding company agreed to acquire online options trading firm optionsXpress Holdings, Inc for $1 billion in stocks.

Tiffany & Co. (TIF) soared 5.3% or $3.09 to $60.38 after the holding company reported fourth quarter sales increased 12% to $1,101.2 million from $981.4 million a prior year. Comparable store sales increased 11%. Net income in the quarter soared to $181.2 million or $1.41 per diluted share compared to $140.3 million or $1.09 per share a year ago.

For the full year revenues increased 14% to $3.1 billion from $2.7 million a prior year. Comparable store sales increased 10%. Net income surged to $368.4 million or $2.87 per diluted share compared to $264.8 million or $2.12 per diluted share a year ago.