Tuesday, November 07, 2006
U.S. stocks rally on string of deals, upbeat Fed-official remarks
Quotes & News:
11:41 am ET Nov 6, 2006
DJIA
12,062
+76.36
_____
S&P
1,376
+12.64
_____
NASDAQ
2,361
+30.47
_____
10Yr
4.72%
+0.008
_____
U.S. stocks rally on string of deals, upbeat Fed-official remarks
NEW YORK
U.S. stocks rallied Monday, with the technology sector pacing the
advance on a string of deals and positive remarks on the economy from a
Fed official, with shares of the Four Seasons Hotel Inc. surging on a
$3.7 billion takeover offer.
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Regulators in U.S., U.K. eye private equity
NEW YORK
American and U.K. regulators are looking into their oversight roles in
the exploding private-equity market, and the U.S. Department of Justice
is reported to be looking particularly closely at the purchase of former
Ford unit Hertz.
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Four Seasons gets $3.7 billion bid from CEO, Gates, Bin Talal
NEW YORK
Four Seasons Hotels Inc. said it received a takeover offer of $82 a
share, or $3.7 billion, from investors including its current chief
executive, Saudi Prince Alwaleed Bin Talal and Microsoft Chairman Bill
Gates.
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Abbott to pay hefty premium for Kos Pharma, cholesterol drugs
CHICAGO
Abbott Laboratories said Monday that it will pay $3.7 billion for Kos
Pharmaceuticals Inc., in a move that will add two major cholesterol
drugs to its product lineup.
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The Fed: Moskow sees economy bouncing back from weak Q3
WASHINGTON
The U.S. economy should bounce back from the weak third quarter and
average "somewhat below" a 3% real GDP growth rate over the next year,
said Michael Moskow, the president of the Chicago Federal Reserve Bank
on Monday.
