Midday S&P Is Up After a String of Company Acquisitions
By Anthony Shields Dec 06, 2012 3:16 pm
Plus, Freeport-McMoRan Copper & Gold continues its trend downward.
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is up .18% to 1,411.78 as of 2:25 p.m. EST. Leading this rise is Akamai Technologies (NASDAQ:AKAM), which is down 9.32% to $38.81 per share perhaps due to its acquisition of Verivue. Starbucks (NASDAQ:SBUX) is also up, rising 5.93% to $53.79 per share after being upgraded to buy by several analysts. On the other hand, Freeport-McMoRan Copper & Gold (NYSE:FCX) is continuing the freefall it started yesterday, dropping 4.07% to $30.15 per share today after its acquisitions of Plains Exploration & Production Company (NYSE:PXP) and McMoRan Exploration (NYSE: MMR).
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