Midday Report: United Technologies Eyes Rockwell Collins; Dow's Streak on the Line
The Dow's record-breaking streak was in jeopardy to begin the week. The blue-chip index ended Friday with its eighth record close in a row. Broader markets were under pressure as a selloff in crude oil weighed on the energy sector. United Technologies Corp. was the biggest weight on the Dow, declining on reports it could make a play for Rockwell Collins Inc. United has a market cap of roughly $97 billion, while Rockwell sits at just over $19 billion. Tyson Foods Inc. (TSN) - Get Report rose after topping third-quarter estimates and guiding for an in-line full year. Strength in its beef and pork segments led to a nearly 5% increase in sales over its recent quarter. Netflix Inc. (NFLX) - Get Report announced that it had bought comic book publisher Millarworld, its first acquisition in its history. Millarworld is the company behind popular titles including Kick-Ass and Kingsman. Netflix did not detail the costs of the deal.
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