A link has been sent. Done Stocks Are Higher Amid Massive Deal News By Myles Udland 5 hours ago 0 shares REUTERS / Gus Ruelas Rupert Murdoch, April 29, 2013. Stocks are higher on a busy day that has seen huge merger news and the second day of Federal Reserve Chair Janet Yellen speaking on Capitol Hill. The Dow up 62 points, the S&P 500 is up 7 points, and the Nasdaq is up 17 points.
Stocks End Higher After Data, Earnings, Fed – Yahoo Finance
10-year Treasury note rose 2/32 in price to yield 2.5413 percent. In Europe, the pan-European FTSEurofirst 300 equity index popped 1.2 percent, the biggest one-day advance since April 29 as concerns eased over the exposure of Portugal’s Banco Espirito Santo (BES) to the troubled companies of its founding family. “There must be investors there counting that most of the impact is already priced in and it’s time to buy,” said Fincor analyst Albino Oliveira. Lisbon shares rose 2.7 percent, with BES shares up 17 percent.
Closing Bell, July 16 – Business Insider
Time Warner (TWX) and 21st Century Fox (FOX)(FOXA) disclosed Wednesday that the board of Time Warner rejected an unsolicited stock and cash bid from Fox. The bid was reportedly 1.531 FOXA shares and $32.42 in cash per Time Warner share, valuing Time Warner at $80 billion, or $85 per share, 19.7% above its closing price of $71.01 on Tuesday. News of the deal first leaked Wednesday. The deal was presented to Time Warner in June and was rejected this month.
Stocks Are Higher Amid Massive Deal News – Yahoo Finance
The underlying economic story here, we think, is that firms are expecting to have to pay rather higher wages and are seeking offsetting prices increases.” 3) The National Association of Homebuilders reported that its homebuilder confidence index for July rose to 53 view site… from 49 in June, topping expectations for the index to come in at 50. Following the report, NAHB Chief Economist David Crowe said, “As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home.” 4) In June, industrial production growth slowed to 0.2% from 0.4% in May, with the reading also coming in below the 0.3% growth that was expected by economists. Following the report, Michael Gapen at Barclays said, “Overall, and despite the slowdown in manufacturing production in June, manufacturing production in Q2 rose by 6.7% relative to Q1. The sharp rebound in manufacturing in February in March left the sector well positioned heading into Q2.