Alcoa, Verizon Push Dow Index Close to 14,000, Helped by Mergers, Buybacks

(Bloomberg) -- Buyouts and buybacks have the Dow
Jones Industrial Average flirting with 14,000 for the first
time, and may drive the 111-year-old measure higher.

Alcoa Inc. and Verizon Communications Inc., each the
subject of takeover speculation, have surged since the Dow
average surpassed 13,000 on April 25. General Electric Co.
accelerated the gain after doubling its share-buyback plan,
adding to the fastest rate of stock repurchases.


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

Exxon Mobil Is First Company With Market Value of Exceeding $500 Billion

(Bloomberg) -- Exxon Mobil Corp., the oil company
John D. Rockefeller formed in 1882, became the first publicly
traded company valued above half a trillion dollars.

Shares of Exxon Mobil rose 2.7 percent today, pushing the
market capitalization of the Irving, Texas, company to $504.9
billion. That's more than the annual economic output of
Argentina, Finland and Kazakhstan combined. A 40 percent gain in
the past 12 months has made Exxon Mobil 26 percent bigger than
General Electric Co., the next largest U.S. company.


Read more at Bloomberg Energy News

Sallie deal at risk as buyers question conditions

(Reuters) - The Sallie Mae buyers blamed proposals to cut government subsidies to student lenders, but analysts said the group may want an excuse to pull out or to negotiate a lower price given recent difficulties in raising financing in the debt market.




In another sign that buyers may be holding back, General Electric Co. and Abbott Laboratories Inc. said on Wednesday they terminated a proposed $8 billion deal for the sale of two Abbott diagnostics units to GE, saying they were unable to agree on terms.


Read more at Reuters.com Hot Stocks News

General Electric Calls, Puts Should Be Sold, According to Goldman, Sachs

(Bloomberg) -- Investors should sell options on
shares of General Electric Co. because implied volatility, a key
factor in pricing the contracts, is poised to decline at the
world's second-biggest company by market value, according to
Goldman, Sachs & Co.

Investors who don't own GE shares should sell September
$37.50 puts, derivative strategists Maria Grant and John Marshall
wrote in a note to clients. Current shareholders should create
September $40 calls and September $37.50 puts and then sell them
to other investors, they said.


Read more at Bloomberg Stocks News

Toshiba Shares Rise on Report It Won $4.9 Billion U.S. Nuclear Plant Order

(Bloomberg) -- Shares of Toshiba Corp. rose after a
Nikkei report said the company beat General Electric Co. and
Hitachi Ltd. to win a 600 billion yen ($4.9 billion) contract to
supply nuclear plant equipment to NRG Energy Inc.

Toshiba, Japan's biggest maker of nuclear power reactors by
capacity, gained 1.2 percent to 1,036 yen as of 10:56 a.m. on the
Tokyo Stock Exchange. Toshiba Plant Systems & Services Corp., its
power construction unit, rose 6.6 percent to 1,033 yen.


Read more at Bloomberg Energy News

UPDATE 2-GE, Pearson drop Dow Jones takeover pursuit

(Reuters) - NEW YORK, June 21 - General Electric Co.
and Pearson Plc said on Thursday they will not pursue
a joint offer for publisher Dow Jones & Co. Inc. ,
removing a potential challenge to a $5-billion bid by Rupert
Murdoch's News Corp. .




GE, the world's second-largest company by market
capitalization, and Pearson, publisher of the Financial Times,
said they had held exploratory talks about combining their
financial news outlets with Dow Jones.


Read more at Reuters.com Bonds News