Closing Bell: Bayer Ups Monsanto Bid; New Stock Records
The S&P 500 closed out Thursday's session with its fourth record close in a row as hopes for global monetary stimulus kept hopes high on Wall Street. The Dow Jones Industrial Average also scored a new record and crude oil jumped to above $45 a barrel again. Monsanto (MON) spiked after Bayer (BAYRY) - Get Report upped its bid to $125 a share from $122. The all-cash deal values Monsanto at roughly a 20 percent premium to its current trading levels. Finish Line (FINL) climbed after authorizing a new $5 million share repurchase program. The athleisure retailer also announced a quarterly dividend of a dime a share payable to shareholders of record as of August 26. IMAX (IMAX) - Get Report shares traded at their highest in six weeks. The stock was on the upswing after two separate bullish notes from analysts released earlier this week.
