Dow Watch: GE Escapes Downdraft
(
At 11:31 a.m. EDT
)
The
Dow
was only slightly lower two hours into the session Thursday, but nearly two-thirds of its components were in the red. Recently, the index was down 37 points at 7449.
Merck
(MRK) - Get Report
and
(PFE) - Get Report
, which might part ways with some of its animal-health unit in order to complete the planned
Wyeth
(WYE)
acquisition, had the biggest declines of the 18 laggards, falling more than 4% each.
(C) - Get Report
, meanwhile, was one of 12 winners, up 1.3% at $3.12 in the wake of news the bank is looking at a reverse split. Despite the modest boost in the stock, one could
that it isn't the best way to shore up confidence or to treat shareholders.
Also on the upside was
(GM) - Get Report
, adding 12.5% to $2.97 following a report that a proposal could be unveiled shortly that deals with restructuring the automaker and struggling competitor
Chrysler
.
General Electric
(GE) - Get Report
was another gainer, climbing 3.3% to $10.66, after saying its
finance unit should turn a profit in the first quarter and for the full year.
Now we haven't heard
this
in a while, have we?
Microsoft
(MSFT) - Get Report
was up 11 cents, or 0.7%, at $17.07 on word it, yes, brace yourself, might still be interested in some kind of tie-up with
Yahoo!
(YHOO)
.
This story is seriously going to contend for the title of Longest Discussed, but Never Actually Done Deal if something doesn't happen soon. Remember, this has been going on since February of last year. Maybe I'm the only one who's tired of the speculation.
