Stocks Rally on Merger and Acquisition News

A flurry of corporate deals lifted stocks across the board.  Meanwhile, bond prices fell sharply. The Dow climbed 117 points to 19,446 while Nasdaq leaped 29 points to 2240.

On the upside

Bucyrus International (Nasdaq: BUCY) offered $1.3 billion to buy the mining equipment unit from Terex Corp. (NYSE: TEX).

An analyst upgraded chip giant Intel (Nasdaq: INTC) whose shares extended last week's rally among tech stocks.

Shares of apparel store operator Stein Mart (Nasdaq: SMRT) rose on optimism about the holiday shopping season.

American Greetings (NYSE: AM) was selected to produce the official 2009 presidential and vice presidential holiday cards for the Obama administration.

On the downside

The Department of Interior suspended Kforce Government Solutions (Nasdaq: KFRC) from new and renewed work with the federal government last Friday.

Citigroup (NYSE: C) was one of the few laggards following a Barron's article that identified the banking giant the weakest among its peers.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 618.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.