The Dow Gains 14 Points, Nasdaq Adds 15
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The Dow gained 14.06 points to close at 13,521.34, the Nasdaq added 14.87 points to close at 2,572.06, and the S&P 500 added 2.38 points to close at 1,518.11. Deals, deals and more deals. URS Corp (NYSE: URS) acquired The Washington Group International (NYSE: WNG) in a cash and stock transaction valued at approximately $2.6 billion, Windstream (NYSE: WIN) acquired CTT Communications (Nasdaq: CTCI) from $31.50 per share, private equity acquired Archstone-Smith Trust (NYSE: ASN) for $22.6 billion and Bradley Pharmaceuticals (NYSE: BDY) was taken out by its CEO for $21.50 per share. Also, CDW Corp. (Nasdaq: CDWC), InfoSpace (Nasdaq: INSP) and Avaya (NYSE: AV) are rumored to be in takeover talks.
Oil loss $2.05 a barrel to close at $63.15.
Volume was modest with 2.65 billion shares trading on the NYSE and 1.73 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 21:12 on the NYSE and 19:11 on the Nasdaq.
In individual stories, CT Communications (Nasdaq: CTCI) gained 45.5% after announcing a definitive agreement to merge with Windstream Corporation (NYSE: WIN) in a deal worth $31.50 per share in cash. Advanced Medical Optics (NYSE: EYE) fell 13.7% after the Company announced it would immediately and voluntarily recall its Complete MoisturePlus contact lens solutions in response to information received today from the U.S. Centers for Disease Control and Prevention (CDC) regarding eye infections from Acanthamoeba, a naturally occurring water-borne organism which can contribute to serious corneal infections.
Investors will be looking for earnings on Dollar Tree (Nasdaq: DLTR), Polo Ralph Lauren (NYSE: RL) and Williams-Sonoma (NYSE: WSM).
Investors will also be looking for economic data on MBA Mortgage Applications, ADP Employment Report and FOMC Minutes (2:00PM EST).
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