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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fusion-IO, Inc. | NYSE:FIO | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.23 | 0.00 | 01:00:00 |
By Anora Mahmudova, MarketWatch
NEW YORK (MarketWatch) -- The U.S. stock market reversed opening losses and edged higher on Monday as upbeat economic reports and deal news outweighed concerns about rising violence in Iraq.
Better-than-expected manufacturing reports and housing data as well as a flurry of deal news lifted the main benchmarks off opening losses. Limiting gains were concerns about a worsening situation in Iraq. Over the weekend, militants in Iraq tweeted out images supporting a claim they had executed hundreds of Shiite Iraqi soldiers. The killings were not verified.
The S&P 500 (SPX) added 2 points, or 0.1%, to 1,938.33. The Nasdaq Composite (RIXF) rose 8 points, or 0.2%, to 4,318.71, helped by a 1% gain in Apple Inc. (AAPL), its biggest component.
The Dow Jones Industrial Average (DJI) ticked up 5 points to 16,782.04.
Follow MarketWatch's live blog of today's stock-market action.
Fresh data from the factory sector showed that manufacturing remained a bright spot in the U.S. economy at the end of the second quarter.
Manufacturing activity in the New York region held steady in June after hitting an almost four-year- high in May, the Federal Reserve Bank of New York said Monday.
Industrial production bounced back in May after a drop in April that wasn't as bad as initially estimated.
Home builders' confidence rose in June to the highest level in five months, but respondents were still a bit pessimistic, according to the National Association of Home Builders/Wells Fargo housing-market index released Monday.
Merger Monday
Medtronic Inc. (MDT) announced Sunday that it plans to buy Ireland-based Covidien PLC (COV) in a $42.9 billion deal. The cash-and-stock offer would be valued at $93.22 per Covidien share. Shares of Covidien soared 22%, while Medtronic fell 1%. Medtronic, big health companies look to dodge U.S. taxes
Shares of Bluebird Bio Inc. (BLUE) soared 41% after the company reported promising preliminary data on experimental gene therapy for patients with inherited blood disorders.
Level 3 Communications Inc. (LVLT) shares dropped 6% after the company said Monday it agreed to acquire TW Telecom Inc. (TWTC) in a deal worth about $7.3 billion, including the assumption of $1.6 billion in debt. Level 3 said it secured committed financing valued at $3 billion.
TW Telecom shares increased 7%.
Fusion-io Inc. (FIO) shares surged 23% after SanDisk Corp. (SNDK) on Monday agreed to buy Fusion-io in an , or $11.25 a share.
Yahoo Inc. (YHOO) dropped 5% after Chinese Internet company Alibaba reported slowing revenue growth for the year. Yahoo owns 24% of Alibaba.
In other markets, European stocks fell after a weekend of increasing violence in Iraq. Japanese stocks fell in a mixed session for Asia as Iraq worries pushed the Japanese yen (USDJPY) higher against the dollar.
The British pound tapped $1.70 against the dollar and traded at a nearly five-year high on speculation the Bank of England could be one of the first major central banks to break away from ultra-easy monetary policy.
Oil prices (CLN4) pulled back from stronger, earlier gains, while gold(GCQ4) was higher.
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