Stocks Close Mixed
Stocks closed mixed on Monday, with the Dow and S&P 500 posting slight losses, while the NASDAQ recorded a small gain. In M&A activity, SAP
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PowerRating) agreed to acquire Business Objects
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PowerRating) for 4.8 billion euros (full story), and Textron
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PowerRating) agreed to acquire United Industrial Corp.
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PowerRating) for $1.1 billion.
Among today’s gainers, Burger King
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PowerRating) hit a 3-month high (read more), Yum! Brands
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PowerRating) climbed to a multi-month high (read more) and Caterpillar
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PowerRating) reached a 2-month high (read more).
Alcoa
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PowerRating) is due to report earnings tomorrow, making it the first Dow component to report.
The U.S. dollar rose against both the euro and yen. Crude oil lost more than $2 to close at $79.02.
The bond market was closed today in observance of Columbus Day.
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