Midday Report: Aetna, Humana Call Off Merger; U.S. Stocks Waver
Stocks were in flux as Wall Street digested comments from Federal Reserve Chair Yellen coming from Capitol Hill. Yellen reiterated that rate hikes would be gradual, though cautioned it would be unwise to wait too long.
Mattel (MAT) - Get Report inched higher after securing a partnership with Alibaba (BABA) - Get Report to sell its toys in China and develop products specifically for the region. Mattel will use Alibaba's Tmall.com platform.
Credit Suisse (CS) - Get Report climbed despite a wider-than-expected loss in the bank's fourth quarter. The Swiss bank recently reached a multi-billion-dollar settlement with the Department of Justice over its sale of mortgage-backed securities.
Aetna (AET) rose while Humana (HUM) - Get Report dipped after the two disbanded a merger agreement. The deal had been and would likely continue to be subjected to intense regulatory scrutiny from the DoJ.
