us stocks-wall st opens higher on m&a, citi earnings
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8/12/2019 US STOCKS-Wall St opens higher on M&A, Citi earnings
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US STOCKS-Wall St opens higher on M&A, Citi earnings
(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama and Nick Zieminski)
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"It's very important to see this reversal now in the economy heading into the second quarter," said
Anastasia Amoroso, Global Market Strategist with J.P. Mylan shares advanced 1.9 percent to $51.17
before the opening bell. Abbott shares rose 0.5 percent to $41.52.
Earnings season will pick up speed this week, with 59 S&P 500 components scheduled to report.
8/12/2019 US STOCKS-Wall St opens higher on M&A, Citi earnings
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S&P 500 profits are seen growing 6.2 percent in the second quarter, according to Thomson Reuters
data, down from the 8.4 percent growth forecast at the start of April. Morgan Funds, in New York.
URS shares jumped 9.1 percent to $56.73 and AECOM gained 3.8 percent to $32.97. The S&P
financial index gained 0.8 percent.
* Citigroup up after earnings, settlement
The Dow Jones industrial average rose 126.83 points or 0.75 percent, to 17,070.64, the S&P 500
gained 10.68 points or 0.54 percent, to 1,978.25 and the Nasdaq Composite added 25.16 points or
0.57 percent, to 4,440.65.
Mon Jul 14, 2014 10:25am EDT
* Shire to accept Abbvie takeover offer
Engineering design firm AECOM Technology Corp on Sunday said it would pay about $4 billion to
acquire engineering and construction services firm URS Corp. In order to justify current stock
prices, analysts are looking to earnings to confirm the economy recovered in the second quarter
from the impact of a harsh winter.
Citigroup Inc shares rose 3.9 percent to $48.83 as one of the top boosts to the S&P 500 after it
posted second-quarter earnings and agreed to pay $7 billion to settle a U.S. stocks rose on Monday,
buoyed by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on
pace to climb for a second straight session.
London-listed drugmaker Shire Plc said it was ready to recommend to agree to an increased 31billion pounds ($53 billion) takeover offer from Abbvie Inc, ending a long-running courtship largely
motivated by tax rates. U.S.-listed shares of Shire rose 1.9 percent to $253.71 while Abbvie shed 0.9
percent to $54.45.
* Indexes up: Dow 0.75 pct, S&P 0.54 pct, Nasdaq 0.57 pct (Updates to market open, adds quote)
Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics
business outside the United States in an all-stock transaction valued at about $5.3 billion. "The
second quarter earnings should solidify that we did reverse the negativity of the first quarter."
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NEW YORK, July 14 (Reuters) - U.S. government investigation into mortgage-backed securities.
Revenue is seen up 3.1 percent.
By Chuck Mikolajczak
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Goldman Sachs analyst David Kostin raised his 2014 target for the
https://independent.academia.edu/DonnaGardnera/Posts/3030954/Preparing-for-that-arrival-of-your-i
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nfant-can-be-an-extremely-time-consuming-and-costly-a-portion-of S&P 500 to 2,050 from 1,900,
citing expectations that yields on the 10-year Treasury note will be around 3 percent and will
continue to push investors into stocks as they search for higher returns.
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