Knobias ClipReport (7-24-2007)
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Submitted from Knobias ClipReport
Merger Monday was alive and well again as GlobalSantaFe Corp and Transocean Inc announced their merger. Barclays sweetened their offer for ABN Amro. Cerberus reported their purchase of United Rentals Inc., and Hewlett-Packard noted their buyout of Opsware Inc. Tellabs Inc. also saw a surge on talks that the company was the target of Nokia Siemens Networks.
With the plethora of merger news, lower energy prices and surprising earnings from Merck and Schering Plough, the Dow bounced back from Friday’s pullback to gain almost triple digits. With little in the way of market data expected till the end of the week, all attention should be focused on earnings.
