Author: Elena Todorova
123jump.com
Last Update: 12:05 PM EST February 26 2007

U.S. stock market averages turned mixed in late morning trading, as oil prices jumped above $62 offsetting merger activity, including the $45 billion acquisition of UTX, the biggest private-equity deal ever. The Dow remained in the positive, helped by 3.8% gain for drug maker Merck and 1.3% for Coca-Cola on the back of brokerage upgrades. The tech sector was weighed down by Arris Group, falling 11% after Ericsson bid $1.4 billion for Tandberg Television, topping Arris'' offer.