Mergers and Acquisitions Helped All 3 Major Indices to Advance Today

News of various mergers and acquisitions helped the 3 major indexes to gain ground today, despite an increased likelihood that the Fed will raise the benchmark Fed Funds Rate to 5.50% before pausing. 1,341,831,460 shares were traded @ The New York Stock Exchange®.

Shares of Dow Jones Industrial Average (DJIA) component General Motors (GM) gained $0.78 (+2.89%) to close @ $27.75; the stock then gained an additional $0.34 in after-hours action this evening.

Shares of DJIA component Altria (MO) gained $0.91 (+1.28%) to close @ $72.16 on news that Irene Rosenfeld will take over as CEO of Altria's Kraft Foods unit. Kraft, the global #2 food seller, is currently restructuring, and will break away from parent Altria in the near future.


Shares of NYSE Group (NYX) gained $2.90 (+4.72%) to close @ $64.35; the stock then gained an additional $0.12 in after-hours action this evening. NYSE Group CEO John Thain told a French newspaper that resources are available if the company needs to raise it's bid for Euronext; Deutsche Boerse hasn't thrown in the towel in the fight for Euronext. The NYSE Group owns The New York Stock Exchange®.


Global #3 copper producer Phelps Dodge is buying Inco and Falconbridge.

Shares of Inco (N) gained $5.95 (+10.21%) to close @ $64.21.

Shares of Falconbridge (FAL) gained $2.50 to close @ $51.80.

Shares of Phelps Dodge (PD) fell by $6.72 (-8.10%) to close @ $76.23; the stock then lost an additional $0.23 in after-hours action this evening.


Johnson & Johnson is purchasing Pfizer's health products division which includes brands like Visine®, Rolaids®, Listerine® and Sudafed®.

Shares of Johnson & Johnson (JNJ) fell by $1.11 (-1.81%) to close @ $60.21.


Shares of Lowe's (LOW) gained $1.15 (+1.89%) to close @ $62.01.


Shares of Lennar (LEN) gained $1.14 to close @ $45.68.


Shares of Somera Communications (SMRA) gained $2.16 (+104.85%) to close @ $4.22.


Shares of Enzo Biochem (ENZ) gained $1.54 (+11.85%) to close @ $14.54.

Shares of Bradley Pharmaceuticals (BDY) fell by $1.03 (-8.59%) to close @ $10.96.

Shares of Biomet (BMET) fell by $1.80 to close @ $33.18.


Shares of Boston Scientific (BSX) fell by $1.20 to close @ $17.06 on news that a faulty part may cause defibrillators and pacemakers to fail without warning.


Shares of Excel Maritime Carriers (EXM) gained $1.08 (+12.00%) to close @ $10.08.


Shares of Sunoco (SUN) gained $1.27 (+2.03%) to close @ $63.94.


Shares of Leading Brands Inc. (LBIX) gained $1.12 (+33.43%) to close @ $4.47; the stock then gained an additional $0.21 in after-hours action this evening.


Shares of Prestige Brands Holdings (PBH) fell by $1.57 (-15.51%) to close @ $8.55; the stock then recovered $0.10 in after-hours action this evening.


Shares of Anadys Pharmaceuticals (ANDS) fell by $3.00 (-44.84%) to close @ $3.69.


Shares of ACS Motion Control Ltd (ACSEF) fell by $2.89 (-40.19%) fell by $4.30; the stock then lost an additional $0.30 in after-hours action this evening. The company very recently announced the loss of a major customer.


Summary of The U.S. Markets:

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DJIA: Closed @ 11,045.28 (+56.19)

NASDAQ: Closed @ 2,133.67 (+12.20)

S&P 500: Closed @ 1,250.56 (+6.06)

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NYMEX Crude Oil Future is currently @ $71.99/barrel

NY Spot Gold fell by $0.20 to close @ $584.80/ounce

In New York, The U.S. Dollar buys 0.7929 Euros

In New York, The Euro buys 1.2612 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.00%

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