Wall Street Ends Mostly Flat on Monday; Facebook Gains 4% (FB)

Trading volume was light today with the bond market and banks closed for Veteran's Day in the US. Wall Street ended mostly flat after coming off of its worst week since June. In Europe, stocks were mixed with an important meeting for the euro zone to discuss Greece's economic reforms later this week. Over the weekend Greece's government passed its 2013 budget. Several deals were reported today including Leucadia's (LUK) acquisition of Jefferies Group (JEF) for $2.8 billion and Titanium Metals' (TIE) deal with Precision Castparts (PCP) for $2.9 billion cash.
Best Buy (BBY) announced their new CFO will be Sharon McCollam, a former Williams-Sonoma executive. Facebook (FB) made gains today ahead of Wednesday's lock-up expiration. Oil prices fell on Monday and crude futures for December delivery dropped after it was announced that the US will become the top oil producer within five years, surpassing Saudi Arabia.

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Published on Nov 12, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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