Stocks Fall Despite M&A Activity
Stocks are lower on Monday, despite a flurry of deals, as credit worries continue to rattle the markets.
Ingersoll-Rand
(
IR |
Quote |
Chart |
News |
PowerRating) is buying Trane
(
TT |
Quote |
Chart |
News |
PowerRating) for $10.1 billion, a deal that would create one of the world’s largest makers of air conditioners (read more).
National Oilwell Varco
(
NOV |
Quote |
Chart |
News |
PowerRating) agreed to acquire Grant Prideco
(
GRP |
Quote |
Chart |
News |
PowerRating) in a stock and cash deal worth $58 per share, a 22% premium based on Friday’s closing prices (read more).
Plains Exploration & Production
(
PXP |
Quote |
Chart |
News |
PowerRating) is selling some of its oil and gas subsidiaries to Occidental Petroleum
(
OXY |
Quote |
Chart |
News |
PowerRating) and XTO Energy
(
XTO |
Quote |
Chart |
News |
PowerRating) for $1.75 billion (read more). The company also announced it was increasing its share buyback program by $1 billion.
Bristol-Myers Squibb
(
BMY |
Quote |
Chart |
News |
PowerRating) announced the sale of its medical imaging unit to Avista Capital Partners for $525 million (read more).
Alliance Data Systems
(
ADS |
Quote |
Chart |
News |
PowerRating) reaffirmed its full-year 2007 outlook (read more).
| Market Snapshot | |||||||||||||||||||||||||||||||||||||||||||||
|
|
Strongest/Weakest Industry Groups |
||||||||||||||||
|
Economic News |
|
|