The S&P 500 and Dow Jones ended the day slightly up, while Nasdaq was down 0.11%. Investors were trying to balance a reported decline in sales of new homes in June with the news of multiple acquisitions. Dollar Tree Inc. (DLTR) is going to take over Family Dollar Stores (FDO), while Zillow is acquiring Trulia, its direct competitor in a real estate online listings market. After debuting its IPO last Friday, El Pollo Loco’s (LOCO) shares continued to climb for the second trading day in a row.
Word on the Street
- Herbalife (HLF) misses estimates, shares fall in after hours trading.
- Virgin America files for IPO.
- New home sales declined 8.1% in June.
- Zillow to acquire Trulia for about $3.5 billion in stock.
- Medicare’s in the clear until 2030.
- Coming up: 48 hours of economic news outpour.
- Is this an equity bubble?
- Family Dollar (FDO) to be taken over by Dollar Tree in a $8.5B deal.