Midway through trading Monday, the Dow traded up 1.06 percent
to 15,538.60 while the NASDAQ surged 0.37 percent to 3,736.10.
The S&P also rose, gaining 0.92 percent to 1,703.46.
Top Headline Packaging Corp of America (NYSE:
) announced its
plans to acquire
) for around $1.28 billion.
The offer price of $12.55 per share represents a 26% premium
to Boise's closing price of $9.96 on Friday.
The total transaction value is $1.995 billion, including Boise
debt. The deal is likely to close in the fourth quarter.
Equities Trading UP Boise (NYSE:
) shot up 26 percent to $12.55 after Packaging Corp of America
) announced its plans to acquire the company for around $1.28
Shares of Avanir Pharmaceuticals (NASDAQ:
) got a boost, shooting up 8.33 percent to $4.42 on Piper Jaffray
Packaging Corporation of America (NYSE:
) was also up, gaining 7.64 percent to $58.72 after the company
announced its plans to
for $12.55 per share.
Equities Trading DOWN Shares of Qihoo 360 Technology Co (NYSE:
) were down 5.59 percent to $82.95 after Sohu.com's subsidiary
reached a deal with Tencent.
Silver Standard Resources (NASDAQ:
) shares tumbled 6.01 percent to $6.73. Silver futures surged
1.75% to trade at $22.10 an ounce.
) down, falling 2.22 percent to $454.60. Apple shares have
dropped 33.56% over the past 52 weeks.
Commodities In commodity news,
oil traded down 1.12 percent
to $107.00, while gold traded up 0.58 percent to $1,316.20.
Silver traded up 1.29 percent Monday to $22.00, while copper
rose 0.70 percent to $3.23.
Eurozone European shares
today. The Spanish Ibex Index surged 0.65 percent, while Italy's
FTSE MIB Index rose 1.05 percent. Meanwhile, the German DAX
gained 1.22 percent and the French CAC 40 climbed 0.92 percent
while U.K. shares rose 0.51 percent.
Economics The Empire State manufacturing index fell to 6.29 in
September, versus a prior reading of 8.24. However, economists
were expecting a reading of 9.10.
Industrial production increased 0.4% in August, versus
economists' expectations for a 0.5% rise.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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