Market Wrap: Microsoft Did It All for the NOOK-ie; Dow on One-Year Win Streak...Nearly; Merger Monday!

Market wrap-up for April 30th

End of the Day: Dow Jones down 14.7 to 13,213.63; Nasdaq down 22.8 to 3,046.36; S&P 500 down 5.5 to 1,397.91

The following is a brief summary of events moving markets today:

• Will the e-Ink versions still be able to produce the "blue screen of death?": Microsoft (Nasdaq: MSFT) and Barnes & Noble (NYSE: BKS) announced the formation of a strategic partnership in a new Barnes & Noble subsidiary, which will build upon the history of strong innovation in digital reading technologies from both companies.
  
  The new subsidiary, referred to in this release as Newco, will bring together the digital and College businesses of Barnes & Noble. Microsoft will make a $300 million investment in Newco at a post-money valuation of $1.7 billion in exchange for an approximately 17.6 percent equity stake. Barnes & Noble will own approximately 82.4 percent of the new subsidiary, which will have an ongoing relationship with the company’s retail stores. Barnes & Noble has not yet decided on the name of Newco.
  
  For analyst commentary on the deal, click here.
  
  
• For the 11th month: Despite a shaky start and volatile trading for the month, the Dow Jones Industrial Average netted a gain for April. The average closed up 1.59 points better than the start of April. As a side note, 1.59 points is a fraction of a percent (the term fraction cannot be emphasized enough here) higher, but a win is a win.
  
  
• Misinformed media mobilizes mondo Monster move: Monster Beverage Corporation (Nasdaq: MNST) lept and then un-lept in the middle of the session Monday amid chatter Coca-Cola (NYSE: KO) might be in talks to acquire the company. After Monster shares moved well over 15 percent to the upside, Coca-Cola issued a statement saying it wasn't in talks to acquire Monster, but remains in a distribution partnership. Monster shares closed 0.8 percent below Friday's close.
  
  
• Merger Monday!:
  • PLX Tech (Nasdaq: PLXT) to be acquired by Integrated Device Technology (Nasdaq: IDTI) for $7 per share in cash and stock.
    
  • Delta Air Lines (NYSE: DAL) wholly-owned subsidiary, Monroe Energy LLC, has reached agreement with Phillips 66 to acquire the Trainer refinery complex south of Philadelphia.
    
  • Haemonetics Corporation (NYSE: HAE) has entered into a definitive agreement to acquire the business assets of the blood collection, filtration and processing product lines of Pall Corporation (NYSE: PLL) for about $536 million.
    
  • Energy Transfer Partners, L.P. (NYSE: ETP) announced an agreement to acquire Sunoco, Inc. (NYSE: SUN) in a unit and cash transaction valued at $50.13 per share, or a total consideration of approximately $5.3 billion.
    
  • Hologic, Inc. (Nasdaq: HOLX) to acquire Gen-Probe Incorporated (Nasdaq: GPRO) for $82.75 per share in cash, or a total enterprise value of approximately $3.7 billion.

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