BeaconEquity.com announces the publication of ‘Thursday's Market: Stocks Push Short-term Trends as Oil Dips, Wall Street Gains Ground’
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Thursday's Market: Stocks Push Short-term Trends as Oil Dips, Wall Street Gains Ground
”U.S. stocks staged a solid rally Thursday to recoup the previous days' steep losses, as the market gains confidence on oil prices' recent dips. Dow Jones Industrial Average reversed course, climbing more than 150 points before shaving its advance to end at 11,615.93, up 82.97 points. Broader indexes also secured the positive territory, with S&P 500 gaining 7.10 points to 1, 292.93, and Nasdaq composite index rising 25.05 points to 2,453.67. Several companies engaged into notable M&A and buyback activities, driving investor interest…
“In the M&A front, Nanogen Inc. (NGEN), developer of molecular and rapid in vitro diagnostic products and The Elitech Group, a private French diagnostics company, announced a definitive agreement to combine the two companies - a combination that would create a global in vitro diagnostics company with brand identity and a strong financial profile. The combination is structured as a tax free stock for stock exchange of shares of Nanogen common stock for all of the Elitech capital stock and is a reverse acquisition of Nanogen by The Elitech Group. The combination is expected to create a transatlantic company that will continue to be listed on Nasdaq. The name of the combined company has not yet been determined…
“Dominion Retail, an energy marketing subsidiary of Dominion (NYSE: D) today agreed to acquire Cirro Energy, a Texas retail electric provider. Headquartered in Richardson, Texas, Cirro supplies about 2.3 million megawatt hours to about 52,600 residential and commercial customers…”
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