Stocks Opened Lower; Alibaba on Focus

U.S. stocks opened lower on Monday. Alibaba’s Banks Boost IPO Size to Record of $25 Billion The Dow Jones
Industrial Average lately fell 27.49 points, or 0.16%, to 17,252.25. The S&P 500 was down 6.75 point, or 0.34%,
to 2,003.65. The Nasdaq Composite dropped 23.38 points, or 0.51%, to 4,556.41.

Alibaba’s initial public offering now ranks as the world’s biggest at $25 billion, netting underwriters of the sale a more than $300 million windfall after the e-commerce giant and some shareholders parted with additional shares.

Apple Inc. said it sold 10 million of its new iPhone 6 and iPhone 6 Plus devices over their first weekend in stores, exceeding last year’s total.

Cash-strapped RadioShack Corp. said Monday it has talked with a major vendor about potential changes to its
commercial arrangement that could benefit a financial restructuring of the electronics retailer.

German pharmaceutical company Merck KGaA on Monday said it would acquire U.S. firm Sigma-Aldrich Corp. for $17 billion to strengthen its position in the life science industry.

German engineering company Siemens AG SIE announced a deal to acquire U.S. oil-equipment maker Dresser-Rand Group Inc. DRC, for $7.6 billion.

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