Stocks Slightly Gain ahead of Data

US stock fell in the opening minutes, then truned to slight gain on Monday, as investors awaited U.S. data on the manufacturing sector. The Dow Jones Industrial Average lately rose 15.21 points to 12,895.30 and the S&P 500 index was up 3.45 points to 1,365.61. The Nasdaq Composite declined 10.03 points to 2,945.08.

Euro zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest rate in two-and-a-half years. Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) was unchanged at 45.1 in June, above the preliminary reading of 44.8 and holding at its lowest reading since June 2009.

Dell (DELL) and Quest Software (QSFT) have entered into a definitive agreement for Dell to acquire Quest. Under terms of the agreement, approved by the boards of directors of both companies, Dell will pay $28.00 per share in cash for each share of Quest for an aggregate purchase price of approximately $2.4 billion, net of Quest’s cash and debt.

Apple Inc has paid $60 million to Proview Technology (Shenzhen) to end a dispute over the iPad trademark in China that saw the world’s most valuable technology company engaged in a protracted legal tussle with a near-bankrupt Chinese firm.

Micron Technology Inc. (NASDAQ:MU) agreed to acquire troubled Japanese rival Elpida Memory Inc. through a definitive sponsor agreement that will see the chipmaker spend about $2.5 billion to buy the company’s equity and pay some of its creditors.

Oil fell in New York as investors locked in profits after the biggest price surge in three years amid forecasts that data today will signal Europe’s economic slump is deepening. Crude for August delivery dropped as much as $1.44 to $83.52 a barrel in electronic trading on the New York Mercantile Exchange and was at $83.85 at 8:58 a.m. London time.

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