Stocks Mixed; Mars Buys Wrigley for $23B
Stocks lacked direction on Monday, ahead of tomorrow’s FOMC meeting.
The Dow fell -20.11, the Nasdaq Composite rose +1.47 , and the S&P 500 slipped -1.47.
Shares of WM. Wrigley Jr.
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PowerRating) surged more than 23% after the company reported earnings that beat estimates and agreed to a $23 billion merger with privately held Mars.
Ford
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PowerRating) shares jumped nearly 10% after Kirk Kerkorian’s Tracinda announced it owns 4.7% of the company and plans to increase its holding.
Humana
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PowerRating) beat recently lowered estimates by $0.02. HUM rose nearly 4%.
Loews Corp.
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PowerRating) fell more than 5% after the company missed the consensus forecast by $0.25.
And, Verizon
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PowerRating) reported earnings that were in-line. VZ shares rose more than 2%.
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