Stocks returned from the weekend in an uncertain mood. Benchmark indexes gave back losses earlier in the day to trade close to the flatline. Wall Street had pulled back over the previous two sessions on worries over the passage of tax cuts.
General Electric Co. (GE - Get Report) was the biggest drag on the Dow after halving its quarterly dividend, the second cut since the Great Depression. The company last cut its dividend in 2009. The industrials company also slashed its 2018 adjusted earnings forecast.
Qualcomm Inc. (QCOM - Get Report) rose after rejecting rival Broadcom Ltd.'s (AVGO - Get Report) $103 billion takeover offer. The chipmaker said the deal undervalued its worth. Qualcomm also said it's uncertain the deal would pass regulatory muster.
In more deal news, Mattel Inc. (MAT - Get Report) rallied around 20% on reports of takeover interest from Hasbro Inc. (HAS - Get Report) . The toymaker was trading at its highest level since early August.
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