Dow now at 10,215, unchanged.
NEW YORK (AP) — Stocks fluctuated Monday as a fresh round of
corporate dealmaking was tempered by continued skepticism about the
strength of the economy.
Stocks got an early lift after a spate of new deals were announced,
but the gains faded quickly. The Dow Jones industrial average fell
5 points in midday trading. Broader indexes also dipped.
Technology giant Hewlett-Packard Co. offered $24 per share for 3Par
Inc. just one week after rival Dell Inc. agreed to buy the data
storage provider for $18 a share. Meanwhile Potash Corp. of
Saskatchewan Inc. formally rejected BHP Billiton’s $38.5 billion
offer to acquire the fertilizer company.
European markets rose after banking company HSBC Holdings said it
was in talks to buy a controlling stake in Nedbank Group Ltd. of
South Africa from Old Mutual for as much as $6.8 billion.
