Expedia-Orbitz Deal Passes Regulators; Fed Decision Looms

Expedia (EXPE) moved higher in midday trading Thursday after it won approval from U.S. regulators to proceed with its acquisition of competitor Orbitz (OWW).
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Expedia (EXPE) moved higher after it won approval from U.S. regulators to proceed with its acquisition of competitor Orbitz (OWW). The approval did not require Expedia to unload any of its assets. Stocks were trading erratically, though in range-bound trading, ahead of this afternoon's Federal Reserve announcement. Investors showed their nerves that the Fed might hike rates from near-zero, a level they have held since 2008. Cablevision (CVC) shot higher after French company Altice agreed to buy the cable operator for almost $18 billion, a move to accelerate its push into the U.S. The deal would create the fourth-largest cable operator in the country.