Stocks Edge Lower at Open, Google in Spotlight

U.S. stocks slipped at the open on Monday, as trading is likely to be quiet amid no major economic or earnings reports. The Dow Jones Industrial Average lately declined 37.82  points, or 0.27%, to 13,955.15. The S&P 500 index dropping 1.99 points, or 0.13%, to 1,515.94, while the Nasdaq Composite index fell 5.86 points, or 0.18%, to 3,188.01.

Google Inc. (US:goog) chairman Eric Schmidt plans to sell up to $2.51 billion of his share in the company, according to a Securities and Exchange Commission filing late Friday. Schmidt owns 2.3% of Google’s outstanding shares and has 8.2% of the voting power. Under the plan, Schmidt, who owns about 7.6 million shares of Google stock, plans to sell about 3.2 million shares of his Class A stock. 

Dell is trying to reassure shareholders about its proposed $24.4 billion acquisition by a group led by its founder, saying it considered a number of strategic options before agreeing to the deal.

US Airways Group Inc (LCC) and AMR Corp (AAMRQ.PK) are nearing an $11 billion merger that would create the world’s largest airline and could announce a deal within a week, after resolving key differences on valuation and management structure, people familiar with the matter said.

The Group of Seven nations are considering releasing a statement on exchange rates this week to calm concern the world is on the brink of a currency war, three officials from G-7 countries said.