Dow Jones, S&P 500 Close at Record Highs
The Dow Jones and S&P 500 closed at record highs today, with Nasdaq also ending the day in the green. This surge is partially due to investors purchasing some stocks that have been slumping recently. Pinnacle Foods (PF) stock rose over 13% today after it was announced that Hillshire Brands (HSH) will be purchasing the food company for around $4.3 billion. Despite holding more than $5 billion in cash, 7 "rich" companies in the S&P 500 will not be paying out dividends, much to the demise of their investors.
Word on the Street
- Economists believe wages will rise in 2014.
- Did Apple's (AAPL) new MacBook Air miss the mark?
- Facebook (FB) wants Google's (GOOG) advertising customers.
- Hillshire Brands (HSH) pays $4.3B for Pinnacle Foods (PF).
- Chiptole's (CMG) CEOs made over $58 million last year.
- Tesla (TSLA) will stop making batteries for Toyota (TM).
- Aceto Corp. (ACET) stock off 17% on third quarter earnings.