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Alcan's board unanimously recommended that shareholders reject Alcoa's unsolicited takeover offer of $73.25 a share in cash and stock, calling it inadequate and contrary to the best interests of Alcan's shareholders.
If the index is going to reach Cramer's target level, it's going to need some help from its components. Here are the first six and how they should push the Dow higher.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
AirTran Holdings said Thursday holders of nearly 57 percent of Midwest Air Group shares backed its hostile takeover bid, bringing it a step closer to completing the deal.
Stocks closed the week mixed as profit-taking and Fed-driven volatility created seesaw trading action in the major indexes. The Nasdaq posted a weekly decline of 0.4%, the S&P 500 ended flat and the Dow Jones Industrial Average rose 0.5%.
French-American telecom equipment group Alcatel-Lucent posted an operating loss, hit by the cost of its $13.4 billion transatlantic merger, and forecast sales would rise 10% in the second quarter from the first.
M&A news and analyst actions were some of the catalysts behind the most actively traded stocks on Friday.
Stocks sold off across the board, and the Dow fell almost 150 points, after mixed economic data prompted investors to book gains. "A day like today was inevitable," said Michael Cuggino of Permanent Portfolio Funds. "I would caution investors not to get overly concerned based on today's (economic) statistics."
Shares in Rio Tinto retreated as much as 4% on Thursday, a day after surging to a record onspeculation BHP Billiton may make a $100 billion-plus takeover bid.
Shares in mining group Rio Tinto surged on Wednesday on talk that bigger rival BHP Billiton was planning a bid which would create the world's fifth biggest company, although Rio denied it had been approached.
The guys go behind the headlines and give you their take on... buyout rumors that are swirling ... consolidation in the metals space... and more.
Stocks recovered from earlier losses to close near the unchanged mark as investors took positions ahead of tomorrow's Fed meeting. "Investors are basically still cautious despite this big run and although we're very overbought, I think the fact that we could get this overbought is bullish in itself," said Bruce Bittles, chief investment strategist at Robert W. Baird.
As we posted earlier, Alcan is one of the best performing stocks in the contest from the latest stats we've collected. CNBC's David Faber had a video report today on the hostile takeover deal for Alcan that Alcoa is trying to engineer. Evidently, this has been a two year "courtship" between the two companies. But any possible friendly deal was stopped last December by Alcan. And Faber says it's possible there could be more "suitors" for Alcan. Here's his report with some info on Alcan.
The Dow ended at another new high after Alcoa announced a takeover bid for rival Alcan, but the overall indexes closed mixed as Wall Street awaits Wednesday's Fed meeting. "The liquidity and M&A is continuing to drive the market," said Robert Pavlik, chief investment officer at Oaktree Asset Management.
Today Cramer's talking aluminum, iron and three breakout stocks he thinks could make you money in this market.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Alcoa said on Monday it would make a hostile bid for Canada's Alcan for nearly $27 billion, after talks between the rival aluminum producers failed to lead to a deal. If successful, the bid of $73.25 per share in cash and stock would create the world's largest aluminum producer. Alcan said it plans to consider the proposal.
Merger news and analyst upgrades were some of the catalysts behind the most actively traded stocks on Monday.
The dollar weakened ahead of three central bank meetings that may underscore market expectations for U.S. interest rates to fall this year as rates in other major economies climb higher.
Shares of Nortel Networks gained as much as 8% after North America's biggest maker of telephone gear raised its outlook for revenue and gross margins in its first quarter.
Stocks scored their fourth straight week of gains, powering the Dow Jones Industrial Average past the 13,000 mark for the first time. The main engine behind the rally continued to be better-than-expected corporate earnings
The Dow ripped through the 13,000 level to close with a 135-point gain spurred by strong earnings reports and positive news from Alcoa. "The momentum in the equities market is looking really good," said Alec Young, market strategist at S&P. "We were expecting earnings growth of about 3% and we've seen double that."