Saturday, July 14, 2007

U.S. Stocks Gain for Third Week on Buybacks; S&P 500, Dow Rise to Records

(Bloomberg) -- U.S. stocks climbed for a third
straight week, sending the Standard & Poor's 500 Index and Dow
Jones Industrial Average to records, after takeover speculation
swept through the metals industry and companies announced $49
billion of share buybacks.

Alcoa Inc. rose to an all-time high and posted the biggest
advance in the Dow industrials as speculation intensified the
world's second-largest aluminum company will become a takeover
target. ConocoPhillips, the third-biggest U.S. energy producer,
extended its longest stretch of gains since at least July 1980
after saying it plans to buy back $15 billion of shares.


Read more at Bloomberg Stocks News

S&P hits record as GE, data boost stocks

(Reuters) -The S&P 500 index climbed to a record on Friday, surpassing levels reached during the Internet bubble, as General Electric Co. increased a stock-buyback plan and data showed improving consumer sentiment.

The Dow Jones industrial average was up 45.52 points, or 0.33 percent, to end unofficially at 13,907.25. The Standard & Poor's 500 Index was up 4.80 points, or 0.31 percent, to finish unofficially at 1,552.50. The Nasdaq Composite Index was up 5.27 points, or 0.20 percent, to close unofficially at 2,707.00.


Read more at Reuters Africa