Takeovers Spur Triple Digit Dow Rally

Nasdaq leads major indices closing up 1.5%.  Crude oil futures close higher by 1.5% to $60.02.

Friday's market action created 10 day intraday lows on both the S&P 500 index and Nasdaq Composite index (explanations below).  These are bullish signals and are part of our contrarian indicator list. It will be interesting to see if we get more bullish signals this week (click here for more info).

Stocks on the Move

XM Satellite (XMSR | Quote | Chart | News | PowerRating) Q3 Loss Narrows, Revenue Up 57% (full story).  XMSR shares rise by over 15%.

Boston Scientific (BSX | Quote | Chart | News | PowerRating) Targets Double-digit Growth Of Both Sales And Earnings For 2007 (full story).  BSX shares move up by nearly 3%.

Kinross Gold (KGC | Quote | Chart | News | PowerRating) To Buy Bema Gold [BGO:BGO] For $3.1 Bln (full story).  KGC shares fall by 9%, while BGO shares rise by 10%.

TXU (TXU | Quote | Chart | News | PowerRating) Trims 2007 Operating EPS Outlook On Lower Electricity Prices, Higher Fuel Costs; To Buyback 20Mln Shares; Boosts Dividend By 5% (full story).  TXU shares close lower off by nearly 8%.

El Paso (EP | Quote | Chart | News | PowerRating) Q3 Profit Increases On Growth In Pipeline Revenues (full story).  EP shares fall by over 1%

Four Seasons (FS | Quote | Chart | News | PowerRating) Receives US$3.7 Bln Buyout Offer From CEO-led Investor Group (full story).  FS shares jump nearly 30%.

OSI Restaurant Partners (OSI | Quote | Chart | News | PowerRating) To Be Acquired By Investor Group For $40 Per Share In Cash (full story).  OSI shares soar by over 23%.

Abbott (ABT | Quote | Chart | News | PowerRating) To Buy Kos Pharma (KOSP | Quote | Chart | News | PowerRating) For $3.7 Bln Cash (full story).  ABT shares trade fractionally lower, while KOSP shares soar by over 53%.

For more stories as they happen, go to our Breaking News section.

Use our most popular trading tool to find out how your stocks will move in the next 5 days.

10 Day Low Alert-This alert occurs when the market has made a 10 day low intra-day. It occurs after much selling has occurred and the market is many times oversold. When the market is above its 200 day ma, its been an opportune time to be entering long positions. When its below its 200 day, it's a good place to begin locking in profits on the short side.