Stocks Rise as Battle for Yahoo! Heats Up
Technology stocks lead the way as the battle for Yahoo! intensified and positive earnings news from DuPont and Wal-Mart helped lift Blue Chips.
The Dow fell +54.72, the Nasdaq Composite +29.58 and the S&P 500 +6.06.
The Wall Street Journal reported that AOL is nearing a deal with Yahoo!
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PowerRating) aimed at thwarting Microsoft‘s
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PowerRating) merger plans.
Shares of Millennium Pharmaceuticals
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PowerRating) surged 49% after the company agreed to be acquired by Japan’s Takeda Pharmaceuticals for $8.8 billion.
DuPont
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PowerRating) expects Q1 earnings of $1.29 per share, up from the previously estimated range of $1.14 to $1.19 and above consensus estimates of $1.17 per share.
Wal-Mart
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PowerRating) reported March same-store sales increased 0.7%, in-line with the company’s guidance. However, WMT raised Q1 EPS guidance in the range of $0.74 to $0.76, above consensus estimates of $0.72.
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