At midday the Dow, S&P 500 and Nasdaq were up 1.0%, 0.8% and 0.9% respectively. Stocks on the Move The main page battle for Family Dollar (FDO) heated up this morning after Dollar General (DG) made a $9 billion cash offer for the company. The move comes after Dollar Tree (DLTR) made an $8.5 billion cash and stock offer for Family Dollar last month. Family Dollar shares rose nearly 5% on the news, Dollar General was up almost 10% while Dollar Tree was off 2%. Foreign Markets European markers were higher today on easing Ukraine tensions.
US stocks open higher, following gains in European markets; Family Dollar jumps on new bid | Fox News
Family Dollar rose 5 percent after Dollar General offered to pay about $9 billion for the discounter in an effort to trump Dollar Tree’s bid. The Dow Jones industrial average rose 160 points, or 1 percent, to 16,822 as of noon Eastern time Monday. The Standard & Poor’s 500 index rose 15 points, or 0.8 percent, to 1,970. The Nasdaq composite climbed 38 points, or 0.9 percent, to 4,503.
Closing Bell, August 18 – Business Insider
was the National Association of Homebuilders’ latest homebuilder confidence survey , which showed the headline index climbing to 55 in July from 53 in June. This reading, which was a seven-month high for the index, also topped expectations for a reading of 54.”Homebuilder sentiment stands only three points below where it stood a year ago. History suggests that the index of future single-family sales is a reasonable gauge of start activity six months ahead. We view this report as consistent with our outlook that improved sentiment should support start activity in the coming quarters,” said Barclays’ Michael Gapen.
Stocks Rise as Ukraine Tensions Ease – Yahoo Finance
European stocks bounced back Monday, Aug. 18, 2014, from Ukraine-related concerns that had caused sharp selling a week earlier. Wall Street was expected to open higher but Asian markets were subdued by further signs of weakness in China’s property market. (AP Photo/Mark Lennihan, File)The Associated Press NEW YORK U.S. stocks are opening higher, following gains in Europe.
U.S. stocks gain; Dollar General jumps after bid
Family Dollar, the target of the bid, also jumped on the news, climbing $3.75, or 5 percent, to $79.81. Airline stocks were among the gainers as well after the price of oil fell to its lowest level since April as fears of supply disruptions from Iraq eased. Fuel is a big component of airlines’ costs. Southwest Airlines rose $1.06, or 4 percent, to $30.82.