Google’s M&A Activity Helps Power Markets Up 2% (GOOG, LOW)

Stocks achieve their third straight trading day of gains, the largest such streak since March. The recovery from the extremely volatile past two weeks has been a nice surprise. Today, gains were powered by merger and acquisition activity, where Google (GOOG) agreed to purchase Motorola Mobility for $12+ billion – a move that’s largely seen as method of getting access to the company’s patents. In other corporate news, Lowe’s (LOW) reduces their annual profit forecast after a decline in same-store earnings.

Word on the Street

• M&A activity helps sends stocks higher to start the week.
• Google (GOOG) agrees to purchase Motorola Mobility Holdings, Inc. to gain access to the company’s patents.
• Investment guru Warren Buffet again urges for a tax increase on the rich.
• Lowe’s (LOW) reports disappointing earnings as same-store earnings decline.
• The European Central Bank spends 22 billion euro on bond-buying spree.
• Ralcorp rejects ConAgra’s (CAG) takeover proposal.
• Bank of America (BAC) sees number of credit card defaults rise in July.
• Dillard’s (DDS) profits and revenue can’t hold stock up high.

Interesting Tidbits

• Develop your ability to think by considering yourself as a thinker.
• Should leaders take vacation? Here is what to consider when taking some time off.

VN:F [1.9.17_1161]