Stocks Set to Open Flat To Lower
Stocks appeared set to open flat to
lower Monday.
A ruling handed down by a Delaware court stated that Tyson Foods
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PowerRating) must follow through with the merger agreement made with IBP Inc
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PowerRating). IBP had agreed to be acquired by Tyson for $4.7
billion or $30 share. Tyson attempted to back out of the deal.
Cendant
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CD |
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PowerRating) has agreed to buy Galileo
(
GLC |
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PowerRating) for $2.9 billion in cash and stock.
Univision
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PowerRating) has agreed to buy 300 hours of Hispanic Soap operas from Columbia over the next five years as well as 800 hours from Venezuela over the next 10 years. With the growing popularity of Spanish soaps which are only produced in Spanish speaking countries, the UVN agreement with these two countries will make UVN the lead in air time of these highly watch soaps.
Microsoft
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PowerRating) and America On Line
(
AOL |
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PowerRating) have called off talks with regard to the use of MSFT’s operating system.
Goldman Sachs initiated coverage on Akamai Tech
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AKAM |
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PowerRating) with a “market
outperform.”