US STOCKS-Wall St opens higher on M&A, Citi earnings

8/12/2019 US STOCKS-Wall St opens higher on M&A, Citi earnings

http://slidepdf.com/reader/full/us-stocks-wall-st-opens-higher-on-ma-citi-earnings 1/3

US STOCKS-Wall St opens higher on M&A, Citi earnings

(Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama and Nick Zieminski)

Link this

"It's very important to see this reversal now in the economy heading into the second quarter," said

 Anastasia Amoroso, Global Market Strategist with J.P. Mylan shares advanced 1.9 percent to $51.17

before the opening bell. Abbott shares rose 0.5 percent to $41.52.

Earnings season will pick up speed this week, with 59 S&P 500 components scheduled to report.

8/12/2019 US STOCKS-Wall St opens higher on M&A, Citi earnings

http://slidepdf.com/reader/full/us-stocks-wall-st-opens-higher-on-ma-citi-earnings 2/3

S&P 500 profits are seen growing 6.2 percent in the second quarter, according to Thomson Reuters

data, down from the 8.4 percent growth forecast at the start of April. Morgan Funds, in New York.

URS shares jumped 9.1 percent to $56.73 and AECOM gained 3.8 percent to $32.97. The S&P

financial index gained 0.8 percent.

* Citigroup up after earnings, settlement

The Dow Jones industrial average rose 126.83 points or 0.75 percent, to 17,070.64, the S&P 500

gained 10.68 points or 0.54 percent, to 1,978.25 and the Nasdaq Composite added 25.16 points or

0.57 percent, to 4,440.65.

Email

Mon Jul 14, 2014 10:25am EDT

* Shire to accept Abbvie takeover offer

Engineering design firm AECOM Technology Corp on Sunday said it would pay about $4 billion to

acquire engineering and construction services firm URS Corp. In order to justify current stock 

prices, analysts are looking to earnings to confirm the economy recovered in the second quarter

from the impact of a harsh winter.

Citigroup Inc shares rose 3.9 percent to $48.83 as one of the top boosts to the S&P 500 after it

posted second-quarter earnings and agreed to pay $7 billion to settle a U.S. stocks rose on Monday,

buoyed by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on

pace to climb for a second straight session.

London-listed drugmaker Shire Plc said it was ready to recommend to agree to an increased 31billion pounds ($53 billion) takeover offer from Abbvie Inc, ending a long-running courtship largely

motivated by tax rates. U.S.-listed shares of Shire rose 1.9 percent to $253.71 while Abbvie shed 0.9

percent to $54.45.

* Indexes up: Dow 0.75 pct, S&P 0.54 pct, Nasdaq 0.57 pct (Updates to market open, adds quote)

Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics

business outside the United States in an all-stock transaction valued at about $5.3 billion. "The

second quarter earnings should solidify that we did reverse the negativity of the first quarter."

Share this

NEW YORK, July 14 (Reuters) - U.S. government investigation into mortgage-backed securities.

Revenue is seen up 3.1 percent.

Print

By Chuck Mikolajczak 

Digg this

Goldman Sachs analyst David Kostin raised his 2014 target for the

https://independent.academia.edu/DonnaGardnera/Posts/3030954/Preparing-for-that-arrival-of-your-i

8/12/2019 US STOCKS-Wall St opens higher on M&A, Citi earnings

http://slidepdf.com/reader/full/us-stocks-wall-st-opens-higher-on-ma-citi-earnings 3/3

nfant-can-be-an-extremely-time-consuming-and-costly-a-portion-of  S&P 500 to 2,050 from 1,900,

citing expectations that yields on the 10-year Treasury note will be around 3 percent and will

continue to push investors into stocks as they search for higher returns.

Reprints