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Stocks and Euro Slide on Monday, Big Deals Made Between Companies (CEO, MCD)

By: , dated July 23rd, 2012
Monday saw plunging markets – both global and domestic – due to speculation that Spain may have to request a larger bailout. At the end of the day US indices recovered slightly from earlier losses. Several big deals were made including China’s CNOOC Ltd. (CEO) acquisition of Canadian oil producer Nexen (NXY) for $15.1 billion, NRG’s (NRG) deal with GenOn (GEN) for $1.7 billion, and Pete’s Coffee & Tea’s $1 billion agreement to go private. McDonald’s (MCD) saw a net fall of 4.5% for their second quarter and believe the next quarter may be even slower. The euro hit a two-year low against the dollar early in the day but traded slightly higher towards the end. It also trimmed losses against the yen after initially hitting a twelve-year low.

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