Stocks Edged Up; Dow Eked Out Record

U.S. stocks finished marginally higher on Tuesday with the Dow Jones Industrial Average eking out its 10th record close this year. The Dow Jones Industrial Average added 2.82 points, or 0.02%, to 16,945.92. The S&P 500 was down 0.48 point, or 0.02%, to 1,950.79. The Nasdaq Composite was up 1.75 points, or 0.04%, to 4,338.00.

Google Inc said on Tuesday it is acquiring satellite company Skybox Imaging for $500 million (298.41 million pounds) in cash, the Internet company’s second high-profile acquisition of an aerospace company this year.

California based unmanned aircraft manufacturer AeroVironment announced today that they’ve partnered with BP Exploration Inc. to use drones to monitor BP’s Prudhoe Bay oil field, the largest oil field in North America.

Allergan’s board is unanimously rejecting the latest takeover bid from Valeant Pharmaceuticals, and the Botox maker says the offer isn’t even worth talking about.

Best Buy (BBY) announced today that it will raise its quarterly dividend to 19 cents a share from 17 cents, an increase worth 12%/$0.76 annualized.

American International Group, Inc. (AIG) today announced that its Board of Directors has named Peter D. Hancock as President and Chief Executive Officer, AIG, effective September 1.