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Merger News Outweighs Iraq Fears As Stocks Finish to the Upside

TheStreet

U.S. stock indices zig-zagged across the flat-line today, finishing slightly in the green, as investors weighed geopolitical worries about Iraq against encouraging economic reports. Monday's U.S. economic data overall was stronger than expected with May industrial production rising 0.6% vs. the consensus view of 0.5%. As for individual stocks, Fusion-IO soared more than 22% after agreeing to be acquired by SanDisk for $1.1 billion, or $11.25 a share, in cash. Meanwhile, pipeline operator Williams Companies reached an agreement to acquire control of Access Midstream Partners for $5.99 billion. Williams Cos. surged more than 18%. Finally, Medtronic agreed to buy Ireland-based competitor Covidien for $42.9 billion in cash and stock.