Stocks opened little changed amid merger news, including a $16 billion banking deal.
Dow Jones Industrial Average
was down 4 to 9872. The
was down 1 to 1294.
Nasdaq Composite Index
was up 4 to 2386. The
was up 1 to 399.
TheStreet.com Internet Sector
was up 8 to 576.
TheStreet.com E-Commerce Index
was up 1 to 106.
The 30-year Treasury bond was up 2/32 to 95 31/32, yielding 5.53%.
On the merger-and-acquisition front,
agreed to buy
for $16 billion in stock.
, which owns 20% of
, is buying the rest of the company for $40 a share in cash and stock. Pioneer closed Friday at 34 5/16. The deal is valued at $7.7 billion.
Most Up at Open -- NYSE
EMC (EMC) , up 2 1/2 to 114 3/4
Most Up at Open -- Nasdaq
CMGI (CMGI) , up 13 to 177
: CMGI will become a component of the
effective at the close of trading Wednesday. CMGI will replace
, which is being acquired by
Most Down at Open -- NYSE
Limited (LTD) , down 1 5/16 to 36 1/4
Most Down at Open -- Nasdaq
Chancellor Media (AMFM) , down 2 3/8 to 42
: The company said it was scuttling its proposed acquisition of
and announced big management changes and announced plans for a new Internet division.