The Dow Gained 23 Points, Nasdaq Adds 7
From Street Insider
The Dow gained 23.24 points to close at 13264.62, the Nasdaq added 6.69 points to close at 2,572.15, and the S&P 500 added 3.23 points to close at 1,505.62. Oil fell $1.26 to close at $61.93.
Volume was modest with 2.83 billion shares trading on the NYSE and 2.31 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 19:13 on the NYSE and 17:13 on the Nasdaq.
In individual stories...
Reuters Group PLC (Nasdaq: RTRSY) gained 26.8% after confirming it has received a preliminary approach from a third party which may or may not lead to an offer being made for Reuters. Dow Jones reports Thomson (NYSE: TOC) has approached Reuters with a proposal which may lead to an offer. The FT recently reported that Reuters is ready to review/endorse an offer from Thomson.
Also, Yahoo! (Nasdaq: YHOO) opened up over 15% after takeover rumors circulated that Microsoft (Nasdaq: MSFT) would acquire the internet portal. However, YHOO shares close up 9.9% when afternoon reports indicated MSFT was only looking for a partnership agreement not acquisition.
Today's biggest loser was 21st Century Holding Co. (Nasdaq: TCHC) which fell 44.7% after the company reported Q1 EPS of $0.11, but said, "However, after considering significant factors that are expected to impact our earnings for calendar year 2007, annual Company guidance is hereby amended from $4.50 per share to $2.00 to $2.50 per share."
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