Stocks Decline to Start the Week
Stocks declined on Monday, after M&A news failed to offset
negative data from the housing market. Existing Homes Sales fell
for the fifth consecutive month in July (report),
further evidence that the original source of the market’s recent
troubles persists.
In today’s M&A news, Gateway
(
GTW |
Quote |
Chart |
News |
PowerRating) agreed to be
acquired by Acer, with the Taiwan based company paying
approximately $710 million (full
story). Also, U.S. Steel
(
X |
Quote |
Chart |
News |
PowerRating) agreed to acquire
Stelco for about $1.1 billion (read
more).
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