|
|
|
Two Mega Deals
Dec 05, 5:04 PM EST |
|
| Boston Scientific launches $25 billion deal for Guidant. Verizon is reported to sell or spin-off directory business for $17 billion. |
|
| News of two large deals supported early rise in the averages, which faded quickly. The rise of oil and natural gas drove yields on ten-year bonds to 4.57% and averages lower at clsoe. Tech stocks and financials were weak during the session. Stocks in energy, brokerage, and housing sector were in favor during the session. Oil reached $60 for the first time in the month, and Dow has rebounded 7% from the lows of the year.Gold shines in the session. |
|
|
Full Story... |
Oil and Inflation Pressure Stocks
Dec 05, 12:51 PM EST |
|
| Intel Co plans to invest $1 billion in India to strengthen positions there. Ford Motor plans to close over eight plants in North America. |
|
| Stocks have been weak in Monday morning session, pressured by profit-taking from November rally, oil prices over $60 a barrel and news on slowing growth in the service sector. The Institute for Supply Management said its non-manufacturing index slid to 58.5 in November from an October reading of 60, slightly below expectations of a reading of 59. |
|
|
Full Story... |
Slower Growth in the Service Sector
Dec 05, 11:01 AM EST |
|
| Intel Co plans to invest $1 billion in India to strengthen positions there. Ford Motor plans to close over eight plants in North America. |
|
| Stocks opened weak on one-month jump in oil prices over $60 a barrel, raising concerns about holiday spending. An increase in deal news cushioned the decline with Guidant being the centre of attention after Boston Scientific offered $25 billion in cash and stock to acquire the company. The stock rose 10%. In another deal, Liberty Media agreed to acquire Provide Commerce for $477 million in cash, or $33.75 a share. |
|
|
Full Story... |
Guidant Offsets Oil Rise
Dec 05, 9:39 AM EST |
|
| Oil prices rebounded to $60.05 a barrel on winter storm forecast. Gold traded near a 23-year high at $505. The dollar strengthened. |
|
| Asian-Pacific benchmarks closed mixed with the Nikkei up 0.8% at 15,551,31, boosted by domestic capital-spending data. European stocks declined at mid-day, dragged by mining and health care shares with the German DAX 30 leading decliners, down 0.2%. In corporate news, Boston Scientific bid $25 billion in cash and stock for Guidant. Liberty Media agreed to acquire Provide Commerce for $477 million in cash, or $33.75 a share. |
|
|
Full Story... |
1
 |
|
