Merger Monday–Here’s Who’s Involved

  • August 8, 2005
  • Brice Wightman

Stocks are mixed as oil hits another record high.
Crude traded above $63/barrel after the U.S. embassy in Saudi Arabia
was closed due to an unspecified threat.

ETrade
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will acquire HarrisDirect in a $700 nt
million deal which is expected to be
accretive by 0.17/share.

Cisco
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may be interested in buying Nokia
(
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Business newspaper. NOK is trading up 2.5%. Nokia is denying that it is in talks
with Cisco..

Delphi
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reported a wider loss, guided lower and said it was in discussions with its
former parent, General Motors about a restructuring plan..

Strong sectors are: Oil
(
$OIX.X |
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Oil Services
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$OSX.X |
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Weak sectors are:  Biotech

(
$BTK.X |
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(
$DDX.X |
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Dow +8.04 10,566.07
Nasdaq -3.52 2174.39
S&P 500 +1.40 1227.82

Stocks in the news:

Yahoo
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is in talks to buy 35% of China’s largest ecommerce company, Alibaba. The deal,
reports Forbes, is said to be worth about $1 billion and will be the largest
investment by a foreign company in the Chinese internet industry.

Nortel
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was in-line and guided above consensus.

Brice Wightman