Stocks Turned Positive; Deals in Docus

U.S. stocks opened lower and turned positive in the early trading on Monday, as investors focused
on mergers and acquisition news. The Dow Jones Industrial Average lately rose 21.36 points, or
0.13%, to 16,945.64. The S&P 500 was up 2.29 points, or 0.12%, to 1,951.73. The Nasdaq Composite
gained 4.44 points, or 0.10%, to 4,325.84.

U.S. meat giant Tyson Foods announced today that it has offered to acquire all outstanding shares
of Hillshire Brands Company for a price of $63 per share in cash. The all-cash transaction is valued at about $8.5 billion, including Hillshire Brands’ outstanding net debt, Tyson Foods said in a statement.

McDonald’s Corp. said same-store sales rose slightly in May, but the burgers-and-fries giant continued to suffer weak sales in the U.S. The company said systemwide sales in May rose 2.4%, or
3.4% excluding currency fluctuations.

Cyber crime costs the global economy about $445 billion every year, with the damage to business
from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking, according to research published on Monday.

Family Dollar Stores Inc. FDO +14.37% on Monday said its board has adopted a one-year shareholder rights plan, or so-called poison pill. The plan sets a 10% ownership threshold to protect any person or group from gaining control of the company.

About the Author

has written 15958 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks