Investors Await Fed Signals, Stocks Up on Apple News (BBY, IBM)
Trading was mostly light on Monday with many investors still awaiting further signals from the Fed and comments to be released from Bernanke at the end of the week. European indices were up due to expectations from the central bank as well. The S&P 500 and Dow Jones had small losses while Nasdaq climbed slightly. After last week's results of the Apple-Samsung case, Apple (AAPL) saw shares jump on Monday. The company was awarded $1 billion. IBM (IBM) announced its acquisition of Kenexa Corp (KNXA) and Hertz finally made an agreement with Dollar Thrifty Group for $2.3 billion.Both bonds and gold rose as well ahead of future comments from Bernanke.
Word on the Street
- IBM (IBM) to buy Kenexa Corp. for $1.3 billion, competes with Oracle (ORCL) and SAP AG (SAP).
- Navistar International Corp. (NAV) names former chief executive of Textron Inc. (TXT) is its interim CEO.
- Treasuries climbed on speculation of Bernanke's speech in Jackson Hole at the end of the week.
- M&T Bank (MTB) to acquire Hudson City Bancorp (HCBK) in a $3.7 billion deal.
- Founder Schulze given permission to bid to take control of Best Buy (BBY).
- Diller gets About.com for $300 million, further develops strategy for Ask.com.
- Tiffany & Co. (TIF) cuts fiscal-year sales and profit outlook for the second straight quarter.
- Autodesk (ADSK) Sinks 15% on European Woes.
- Simon Johnson of M.I.T. on why Wall Street will always win.
- One CEO's view on what separates the most effective business leaders from weaker peers.
Published on Aug 27, 2012By InvestorGuide Staff