Merger Monday, Plus, MRK Mistrial
Stocks were mixed Monday, with the Dow being dragged down by news that a
mistrial was declared in the Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) Vioxx trial.Â
It was merger Monday as ConocoPhillips
(
COP |
Quote |
Chart |
News |
PowerRating)
reportedly will buy Burlington Resources
(
BR |
Quote |
Chart |
News |
PowerRating) in a $30 billion deal,
and Vicaom
(
VIA |
Quote |
Chart |
News |
PowerRating) said it was buying Dreakworks SKG (not to be
confused with Dreamworks Animation, DWA).
The Fed meets on Tuesday and some expect
it to signal an end to its rate-hike cycle.
General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) (PowerRating) increased its stock buyback to $5 billion
from $4 billion.
Strong sectors were:Â Â Natural Gas
(
XNG |
Quote |
Chart |
News |
PowerRating) +1.87%Â Â Â Â Â
Oil
(
XOI |
Quote |
Chart |
News |
PowerRating) +1.06%Â Â Â Â Â Oil
ServicesÂ
(
OSX |
Quote |
Chart |
News |
PowerRating) +1.11%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Weak sectors were:Â Â
 Utilities
(
UTY |
Quote |
Chart |
News |
PowerRating) -0.67%Â Â Â Â Â Healthcare
(
HMO |
Quote |
Chart |
News |
PowerRating)
-0.50%Â Â Â Â Â Â Â Â Insurance
(
IUX |
Quote |
Chart |
News |
PowerRating)
-0.47%Â Â Â
|
|
-10.65 | 10,768.01 |
| +4.26 | 2260.99 | |
| +1.06 | 1260.43 |
More stocks on the move:
Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) may be in focus after an analyst on CNBC
said that a settlement with NTP may be far less than some analysts had
speculated on a worst-case basis. The stock closed at its 50-day moving
average, up 5.5%.
Morgan Stanley raised United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) to overweight.
CSFB raised its target on Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) to $475. GOOG will also
join the Nasdaq 100 [NDX|NDX} later this month.
Brice Wightman
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