Stocks Finish Mixed in Slow Session
Google (GOOG) shares finished down 1.4% amid concerns taht the company may have to relinquish certain features related to its Android smartphone operating system to avoid violating Apple patents.
Technology and conglomerates were the strongest sectors in the broad market while consumer cyclicals, transportation and basic materials were the weakest.
Volume remained light with 2.46 billion shares in play on the New York Stock Exchange and 1.38 billion changing hands on the Nasdaq.
The DAX in Germany finished up 1.1% and the FTSE in London was closed for a holiday.The Hong Kong Hang Seng index finished down 0.41% and the Nikkei in Japan closed up 0.16%. October crude oil futures fell 68 cents to settle at $95.47 a barrel and December gold futures were rose $2.70 to settle at $1,675.60 an ounce. The benchmark 10-year Treasury rose 12/32, diluting the yield to 1.652%. The greenback was up 0.09%, according to the dollar index. In corporate news, it was a fairly busy merger Monday as M&T Bank (MTB) agreed to acquire Hudson City Bancorp (HCBK) of Paramus, N.J., for roughly $3.7 billion. Hudson City Bancorp shares were jumping more than 16% and M&T shares were advancing nearly 5%. In addition, car rental giant Hertz Global (HTZ) reached a deal to snap up smaller rival Dollar Thrifty (DTG) for about $2.3 billion.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV