iStock/Thinkstock(NEW YORK) — Wall Street closed mostly higher Monday amid news of major corporate deals and earnings.
The Dow gained 77.32 (+0.43 percent) to finish at 18,223.03.
The Nasdaq jumped 52.43 (+1.00 percent) to close at 5,309.83, while the S&P 500 finished at 2,151.33, up 10.17 (+0.47 percent) from its open.
Crude oil fell less than 1 percent with prices hitting over $50 a barrel.
AT&T: Over the weekend, AT&T Inc. announced it had reached a deal with Time Warner Inc. to buy the media company for $85.4 billion. The merger will most likely face opposition from the government with the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights already set to hold a hearing in December. AT&T shares slid nearly 2 percent and Time Warner’s stock sunk 3 percent.
Rockwell Collins: Aerospace company Rockwell Collins said Sunday it will buy B/E Aerospace, an aircraft cabin interior manufacturer, for $8.3 billion, including debt, in a deal uniting two of the biggest suppliers in the aerospace industry. Shares in B/E Aerospace soared 16 percent on the news.
TD Ameritrade: Scottrade Financial Services will be bought by TD Ameritrade in a $4 billion deal as both of the online discount brokerages have suffered a decline in small investors. According to the Wall Street Journal, the merger will provide the combined company with over 10 million client accounts and about $1 trillion in assets.
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