US Stocks Rebound as Dell Goes Private in $24.4B Deal (DELL, YUM)

The major US indices ended higher on Tuesday and rebounded from yesterday's losses. Dell Inc. (DELL) sparked much of this upward movement after agreeing to their buyout valued at $24.4 billion that will take the company private. Zynga (ZNGA) also rose today after being upgraded from "underperform" to "buy" and reporting their most recent earnings results. After receiving negative publicity in China, Yum Brands Inc. (YUM) dropped 2.6%.
Talks of several deals are currently underway including Virgin Media Inc.'s (VMED) possible transaction with Liberty Global (LBTYA), and negotiations involving Pinterest's new financing deal. It was reported that of the 56% of companies that have shared their Q4 earnings so far, about 69% have beaten investor estimates. In economic news, the ISM index reportedly fell to 55.2% in January from 55.7% in December. US home prices rose 0.4% in December, the best climb since May of 2006. The dollar slipped against the euro while it made slight gains against the Japanese yen.

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Published on Feb 5, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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