"U.S. equities rebounded from two consecutive weeks of loses in positive fashion, posting solid gains in today's session. M&A news and upbeat eurozone business activity reports provided the catalyst, helping to somewhat soothe anxiety over increased speculation that the Federal Reserve could begin to rein in its asset purchases as soon as its two-day meeting which begins tomorrow. Meanwhile, Treasuries finished modestly lower amid the uncertainty, and after reports showed domestic industrial production exceeded forecasts, domestic manufacturing data showed modest expansion and 3Q productivity was revised solidly higher."
"The Dow Jones Industrial Average rose 130 points (0.8%) to 15,885, the S&P 500 Index gained 11 points (0.6%) to 1,787, and the Nasdaq Composite advanced 29 points (0.7%) to 4,030. In moderate volume, 672 million shares were traded on the NYSE, and 1.9 billion shares changed hands on the Nasdaq. WTI crude oil rose $0.88 to $97.48 per barrel, wholesale gasoline gained $0.01 to $2.64 per gallon, and the Bloomberg gold spot price rose $2.24 to $1,240.93 per ounce. Elsewhere, the Dollar Index-a comparison of the US dollar to six major world currencies-was 0.2% lower at 80.07.
The Wall Street Journal is reporting that Sprint Corp. , which was acquired by Japan'sSoftBank Corp. earlier this year, is working toward a possible bid for rival T-Mobile US Inc. , in a deal worth more than $20 billion, according to people familiar with the matter. T-Mobile US, controlled by Germany's Deutsche Telekom AG , was created by a merger between T-Mobile USA and MetroPCS Communications Inc. None of the companies have commented on the report, while CNBC's David Faber noted that he has not been able to come up with any information suggesting the two companies are in talks about a deal. Shares of DTEGY were nicely higher, while S traded modestly to the upside. However, SFTBY and TMUS were solidly lower.
In other M&A news, Singapore's Avago Technologies Ltd. announced that it has reached an agreement to acquire California-based LSI Corp. for $11.15 per share in an all-cash transaction valued at $6.6 billion. The companies said the deal creates a highly diversified semiconductor company with about $5.0 billion in annual revenues. LSI traded over 38% higher, while AVGO also gained solid ground.
Moreover, American International Group Inc. announced that it has agreed to sell its aircraft leasing business International Lease Finance Corp. to Netherlands-based AerCap Holdings NV for cash and stock with a total value of about $5.4 billion. Upon completion of the transaction, AIG will hold approximately 46% of the common stock of AER. AIG was higher, while AER rallied over 30%."
Source: Charles Schwab,U.S. Closing Market View
"The Dow Jones Industrial Average rose 130 points (0.8%) to 15,885, the S&P 500 Index gained 11 points (0.6%) to 1,787, and the Nasdaq Composite advanced 29 points (0.7%) to 4,030. In moderate volume, 672 million shares were traded on the NYSE, and 1.9 billion shares changed hands on the Nasdaq. WTI crude oil rose $0.88 to $97.48 per barrel, wholesale gasoline gained $0.01 to $2.64 per gallon, and the Bloomberg gold spot price rose $2.24 to $1,240.93 per ounce. Elsewhere, the Dollar Index-a comparison of the US dollar to six major world currencies-was 0.2% lower at 80.07.
The Wall Street Journal is reporting that Sprint Corp. , which was acquired by Japan'sSoftBank Corp. earlier this year, is working toward a possible bid for rival T-Mobile US Inc. , in a deal worth more than $20 billion, according to people familiar with the matter. T-Mobile US, controlled by Germany's Deutsche Telekom AG , was created by a merger between T-Mobile USA and MetroPCS Communications Inc. None of the companies have commented on the report, while CNBC's David Faber noted that he has not been able to come up with any information suggesting the two companies are in talks about a deal. Shares of DTEGY were nicely higher, while S traded modestly to the upside. However, SFTBY and TMUS were solidly lower.
In other M&A news, Singapore's Avago Technologies Ltd. announced that it has reached an agreement to acquire California-based LSI Corp. for $11.15 per share in an all-cash transaction valued at $6.6 billion. The companies said the deal creates a highly diversified semiconductor company with about $5.0 billion in annual revenues. LSI traded over 38% higher, while AVGO also gained solid ground.
Moreover, American International Group Inc. announced that it has agreed to sell its aircraft leasing business International Lease Finance Corp. to Netherlands-based AerCap Holdings NV for cash and stock with a total value of about $5.4 billion. Upon completion of the transaction, AIG will hold approximately 46% of the common stock of AER. AIG was higher, while AER rallied over 30%."
Source: Charles Schwab,U.S. Closing Market View
