Merger Monday…Here Are The Names Involved
Stocks are trading higher to start off the week.Â
Equities are staging a strong rally across the board as merger news as well as
positive economic news are cooling investors’ fear of an economic slowdown.
In a cash and stock deal worth $8 billion, Valero Energy is acquiring Premcor.Â
The deal would make Valero the biggest oil refiner in North America.
Despite rising interest rates, existing home sales in March rose by 1% to
6.89 million. Consensus estimates were looking for 6.8 million.
Dow component Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) is flying higher by 2.5% after it received a $6
billion order from the parent of Air Canada
Strong sectors are: Homebuilders
(
HGX.X |
Quote |
Chart |
News |
PowerRating) +2%, Oil
(
XOI.X |
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Chart |
News |
PowerRating)
+1.57%, Internet Comerce
(
ECM.X |
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Chart |
News |
PowerRating) +1.55%.
Weak sectors are: Gold BugsÂ
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -0.66%, Gold &
Silver
(
XAU.X |
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Chart |
News |
PowerRating)
-0.57%, Pharmaceuticals
(
DRG.X |
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Chart |
News |
PowerRating)
-0.03%.
Dow | +87.93 | 10,245.78 |
S&P 500 | +9.62 | 1,161.74 |
Nasdaq | +16.56 | 1,948.62 |
The dollar is +0.33 at
83.78
Crude Oil is -0.39 at
55.00
Gold is +0.60 to 436.20
ce=”Arial” size=”2″ face=”Arial”>Volume is 681 million on the NYSE and
723 million on the Nasdaq.
Market breadth is positive.
NYSE | Issues | |
Advancing | 2283 | Up Vol 522 |
Declining | 907 | Down Vol 154 |
Ratio | 2.52 | 3.39 |
Nasdaq |
||
Advancing | 1850 | Up Vol 541 |
Declining | 1106 | Down Vol 175 |
Ratio | 1.67 | 3.09 |
Stocks in the News
SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating) beat by a penny. Revenue grew 2.4% to
10.2 billion.
Pilgrim’s Pride
(
PPC |
Quote |
Chart |
News |
PowerRating) beat by a penny.
Doubleclick
(
DCLK |
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Chart |
News |
PowerRating) is being bought out by Hellman $ Friedman, LLC,
for 1.1 billion
Kimberly-Clark
(
KMB |
Quote |
Chart |
News |
PowerRating) 0.91, missing by 0.02.
Arch Coal
(
ACI |
Quote |
Chart |
News |
PowerRating) reported 0.25, beating by 0.02.
Brice Wightman