Investors would hope they didn't sell the 13 S&P 500 stocks that have blasted 25% higher or more since May 1. USA Today reports.» Read More
July 29- Activist investor Carl Icahn cut his stake in Family Dollar Stores Inc, a day after the company agreed to be bought by rival discount chain Dollar Tree Inc for $8.5 billion. Icahn said he was "determined" to dispose part of his stake rather than wait for the deal to close or for higher offers to emerge.
Hong Kong's Hang Seng inched up 0.2 percent to 24,483.85 while China's benchmark Shanghai Composite gained 0.1 percent to 2,180.52. Markets in India, Indonesia and Malaysia were closed for holidays. Asian tech heavyweights Samsung Electronics Co. and Sony Corp. will release their quarterly financial results on Thursday.
AcelRx Pharmaceuticals Inc.: Approximately 13,503,900 shares changed hands, a 1,723.5 percent increase over its 65- day average volume. The shares fell $4.44 or 41.0 percent to $6.39. Colonial Financial Services Inc.: Approximately 38,100 shares changed hands, a 2,594.7 percent increase over its 65- day average volume.
*Company to beat Dollar General as top N. America discount chain. July 28- Dollar Tree Inc agreed to buy rival discount chain Family Dollar Stores Inc for $8.5 billion to fend off growing competition from Wal-Mart Stores Inc and fellow discounter Dollar General Corp..
*Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln. Dollar Tree Inc offered to buy rival discount chain Family Dollar Stores Inc for about $8.5 billion. Zillow Inc agreed to buy Trulia Inc for $3.5 billion in stock in a deal that would combine the two most popular U.S. real estate website operators Trulia's shares jumped 15.4 percent to $65.04.
U.S. stocks ended little changed as traders waited for key economic and earnings reports later this week. A handful of mergers drove some trading in an otherwise quiet day. Family Dollar soared 25 percent after Dollar Tree announced plans to buy the rival discount store.
*Russia stocks tumble again after new sanctions. Wall Street ended flat as the latest deal news offset losses following soft data on the housing market and services sector.
NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. Family Dollar Stores Inc., up $15.08 to $75.74. The discount retailer is being bought for $8.5 billion by rival Dollar Tree, which is significantly broadening its reach as it looks to fend off Wal-Mart.
NEW YORK— U.S. stocks are ending little changed as traders wait for key economic and earnings reports later this week. ExxonMobil and MasterCard are among the heavyweights posting earnings this week. Family Dollar soared 25 percent after Dollar Tree announced plans to buy the rival discount store.
*Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln. Dollar Tree Inc offered to buy rival discount chain Family Dollar Stores Inc for about $8.5 billion. The transaction, including debt, values Family Dollar at about $9.2 billion.
After news of the monster dollar-store merger, here's the thing no one seems to be talking about, says retail analyst Brian Sozzi.
Some of Monday's midday movers:
Apple Inc. rose 1.4 percent to $99.02 with 52,754,400 shares traded. Applied Materials Inc. rose. 6 percent to $21.36 with 18,488,300 shares traded. Cisco Systems Inc. fell. 2 percent to $25.92 with 27,283,500 shares traded.
Activist investor Carl Icahn said he is hopeful more potential buyers will surface for Family Dollar.
NEW YORK— Dollar Tree is stepping up its fight for penny-pinching customers. On Monday, the discounter said it would acquire rival discounter Family Dollar for $8.5 billion, making it the biggest player in the dollar store category. Despite their names, Dollar Store and Family Dollar vary in their business models.
Homebuilder D.R. Horton fell 3 percent, making it one of the biggest decliners in the S&P 500.. Family Dollar soared 23 percent after Dollar Tree announced plans to buy the rival discount store. Last month, Carl Icahn, who has built up a stake in the company, urged Family Dollar to sell itself.
*Dollar Tree offers to buy Family Dollar for $9.2 bln. While acquisition activity limited the market's decline, keeping indexes near record levels, investors found few reasons to buy as the data followed some high-profile disappointments in corporate earnings, including from Amazon.com and Caterpillar last week. D.R. Horton Inc fell 1.7 percent to $21.24.
China's extended rally and two mega-mergers are helping cap the downside of a suddenly dour market.
NEW YORK— The stock market is opening mixed at the start of a busy week as a batch of merger announcements lift shares in Family Dollar and other companies. Family Dollar soared 23 percent after Dollar Tree announced plans to buy the rival discount store.
*Dollar Tree offers to buy Family Dollar for $9.2 bln. *While merger and acquisition activity supported the market, there have been a number of high-profile earnings disappointments this quarter, including from Amazon.com and Caterpillar last week.