S&P 500 Buoyed by Dividend Announcement (AAPL, UPS)
Major indices were up today, and the S&P 500 was within 10 percent of reaching its all-time high of 1,565.15, set in 2007 before the financial crash. This was prompted in part by Apple (AAPL)'s announcement that they would be using part of their $100 billion in cash to begin issuing dividends, as well as initiating the buyback of $10 billion in shares over a three year period. Meanwhile, United Parcel Service (UPS) will be acquiring TNT Express, the second largest package delivery company in Europe, for a cool $6.77 billion.
Word on the Street
- The S&P 500 reached within 10 percent of its record high.
- Apple (AAPL) announced share-buyback and dividend programs.
- Treasury yields touched 4 and a half year highs today.
- Oil futures fell on activity from Libya and Saudi Arabia on the supply side.
- UPS (UPS) is acquiring Europe's second largest package delivery service.
- Wendy's (WEN) has exceeded Burger King (BKC) in sales in the United States.
Published on Mar 19, 2012By InvestorGuide Staff