Market Wrap: Dell May See Counter-Bid; ADP Reports Strong Job Adds; Microsoft Fined....Again
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Market wrap-up for March 6th
End of the Day: S&P 500 up 1.7 to 1,541.46; Dow Jones up 42.5 to 14,296.24; Nasdaq down 1.8 to 3,222.37
The following is a brief summary of events moving markets today:
* The Fed reported seeing either "modest" or "moderate" growth since the start of January. Wednesday's report said employment conditions have improved, though hiring remained restrained in many districts. Little information was given on which direction the Fed would go with its bond buying program. For more color, click here.
* The country added 198,000 jobs from January to February, according to the February ADP National Employment Report. This was well above the expected 170,000 jobs that economist were expecting on average. The January 2013 report, which reported job gains of 192,000, was revised upward by 23,000 to 215,000 jobs. Click here for more color.
* The European Union fined Microsoft €561 million (about $731 million) over violations of antitrust settlements. The fine amounts to about one percent of 2012 revenue, though Microsoft has shelled-out about €2.24 billion over the last decade.
* Following the commotion in the private equities market leading up to Facebook's (Nasdaq: FB) IPO last May, The NASDAQ OMX Group, Inc. (Nasdaq: NDAQ) and SharesPost, Inc. announced today a joint venture that will establish the preeminent marketplace for private growth companies. For more on the deal, click here.
* Dell (Nasdaq: DELL) was back in the spotlight Wednesday afternoon following reports that Southeastern Asset Management might propose a counter bid for Dell that would be higher than Michael Dell and Silver Lake Partners current bid at $13.65 per share. Blackstone (NYSE: BX) was also said to have taken a look at Dell during its 'go shop' period.
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End of the Day: S&P 500 up 1.7 to 1,541.46; Dow Jones up 42.5 to 14,296.24; Nasdaq down 1.8 to 3,222.37
The following is a brief summary of events moving markets today:
* The Fed reported seeing either "modest" or "moderate" growth since the start of January. Wednesday's report said employment conditions have improved, though hiring remained restrained in many districts. Little information was given on which direction the Fed would go with its bond buying program. For more color, click here.
* The country added 198,000 jobs from January to February, according to the February ADP National Employment Report. This was well above the expected 170,000 jobs that economist were expecting on average. The January 2013 report, which reported job gains of 192,000, was revised upward by 23,000 to 215,000 jobs. Click here for more color.
* The European Union fined Microsoft €561 million (about $731 million) over violations of antitrust settlements. The fine amounts to about one percent of 2012 revenue, though Microsoft has shelled-out about €2.24 billion over the last decade.
* Following the commotion in the private equities market leading up to Facebook's (Nasdaq: FB) IPO last May, The NASDAQ OMX Group, Inc. (Nasdaq: NDAQ) and SharesPost, Inc. announced today a joint venture that will establish the preeminent marketplace for private growth companies. For more on the deal, click here.
* Dell (Nasdaq: DELL) was back in the spotlight Wednesday afternoon following reports that Southeastern Asset Management might propose a counter bid for Dell that would be higher than Michael Dell and Silver Lake Partners current bid at $13.65 per share. Blackstone (NYSE: BX) was also said to have taken a look at Dell during its 'go shop' period.
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Southeastern Asset Management, ADP Employment Report, Standard & Poor's, Silver Lake Partners, Michael Dell
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