Cisco Systems Inc. fell. 6 percent to $23.80 with 23,250,500 shares traded. Clearwire Corp. rose 4.9 percent to $3.42 with 29,710,900 shares traded. DryShips Inc. rose 4.1 percent to $2.26 with 11,472,400 shares traded.
*Yahoo's board approves $1.1 bln Tumblr acquisition. NEW YORK, May 20- U.S. stocks slipped by afternoon trade on Monday as indexes struggled to break above their record levels with investors hesitant to rush into the market.
Cisco Systems Inc. fell 2.0 percent to $23.76 with 29,194,000 shares traded. Facebook Inc. fell 1.7 percent to $25.80 with 26,942,000 shares traded. Intel Corp. rose. 2 percent to $24.08 with 16,610,500 shares traded.
Deals such as Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record high share prices, a bullish sign for stocks.
*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals, including Yahoo's $1.1 billion bid for Tumblr, indicate that companies continue to search for growth through acquisitions, a bullish sign for stocks.
*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions, a bullish sign for stocks.
*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for stocks.
*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for stocks.
U.S. stock market index futures were slightly lower Monday, after major averages finished higher for the fourth-consecutive week, amid ongoing concerns the Federal Reserve may begin to taper off its quantitative easing program sooner than expected.
*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for stocks.
May 20- Generic drugmaker Actavis Inc, which has been the subject of intense takeover speculation, said on Monday that it had struck a deal to buy specialty pharmaceuticals company Warner Chilcott Plc for $8.5 billion in stock.
*Yahoo's board approves $1.1 bln Tumblr acquisition- WSJ. *Actavis to acquire Warner Chilcott in stock-for-stock deal. *Acquisitions including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for the market.
Warner Chilcott shareholders will receive 0.160 shares of the combined company, or $20.08 per Warner Chilcott share, based on Actavis's closing share price of $125.50 on May 17.
The Parsippany, N.J., company's stock had already climbed about 16 percent since last Friday, when Actavis and Irish drugmaker Warner Chilcott PLC said that they were in early talks about a possible combination but had reached no agreement yet. Actavis shares rose 62 cents to $124.50 in premarket trading about 40 minutes ahead of Thursday's market opening.