Wall Street opens up, driven by mergers and acquisitions
Wall Street opened on earnings Monday, investors regaining confidence through several projects of mergers and acquisitions.
A few minutes after the start of trading, the Dow Jones gained 0.54% to 10,268.56 points, the Standard & Poor's 500 index 0.58% to 1077.89 points and the Nasdaq Composite 0.67% to 2194.34 points.
Hewlett-Packard on Monday launched an offer of 1.6 billion dollars (1.2 billion euros) to acquire the data storage company 3PAR, competing with the offer of its rival Dell issued last week.
Titles 3PAR Dell responded to the rise of this announcement, gaining 0.83% respectively and 42%, while HP lost 0.27% at the opening.
The group Campbell Soup gained 0.19% after announcing consider an offer of 1.5 billion pounds (2.3 billion dollars) on the activities of Britain's United Biscuits cookies.
Finally, 3M took the 1.10% group is likely to spend about two billion dollars (1.6 billion) in acquisitions this year, twice more than its previous estimate.
"This suggests that companies have reached a point where they want to grow their cash. (…) This is obviously a positive sign for markets," said Michael O'Rourke, a specialist market with BTIG LLC.
Published on 24 Aug 2010 in business success, calculation, corporations, marketing, plans, by admin
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