If you live in Florida and like Pandora, you're probably hearing a lot of Rick Scott for Governor ads. That is, if you like country music.» Read More
Stocks closed solidly higher as investors took encouragement from more than $10 billion of announced acquisitions. "We think the one-day drop of a week or so ago was way overdone," Bob Turner, chief investment officer at Turner Investment Partners, told CNBC. "The trend that's been in place over the last several years of an upward bias to the market is still in place."
The deal, subject to Triad shareholder approval, tops a $4.7 billion agreement announced six weeks ago for Triad to be purchased by CCMP Capital Advisors and Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs Group.
Merger madness is gripping Wall Street this morning and stocks, so far, are ready to sprint higher at the open. European markets are trading higher, and Asian stocks rose overnight, with a weaker yen helping lift Japan's Nikkei more than 1.6%.
The Dow Jones Industrial Average closed fractionally higher, helped by strength in Wal-Mart and Boeing, but the broader market failed to gain traction.
Triad Hospitals has accepted a takeover bid from affiliates of CCMP Capital Advisors and GS Capital Partners in a deal worth about $4.7 billion, the company said on Monday
Junk bonds are known for being one of the riskiest investment vehicles available. It’s interesting to note then that $100 invested in 1987 in both the S&P 500 and the Bear Sterns Junk Bond Index would garner the same return – with less volatility. At the turn of the century, the S&P jumped during the dot-com boom, then crashed back to the same level as the junk bond market.