Monday Morning Musings
The market is getting another nice bounce at the open. It seems like that has been the pattern lately. Of course, I prefer a market that opens weak and builds strength into the close. But I still think last week's breakout of the COMP should have some legs.
More M&A activity is helping, like this morning's $26 billion offer for Caremark (CMX) by Express Scripts (ESRX).
Oil and gas are lower again, weighing on the energy complex. Bond yields are flat, hovering just below 4.60%.
Semis are the strongest group so far, while energy and commodities are the weakest.
In other news and notes:
- Barron's mentions insider selling at ZUMZ
- H gets acquired by Apollo Management for $9B
- BMET now in focus of private-equity firms
- Asian stocks rise overnight
- UA, formerly UARM, moves to NYSE
- SNE to enter video download market
- JOYG beats earnings, stock gaps higher
- WSJ questions GOOG's earnings power
- AKAM downgraded to Hold at Kaufman
- JNJ added to BofA's Fresh Money Focus List
- GOOG estimates raised at JP Morgan
- SNDK announces $300M stock buyback
long GOOG, JNJ, SNDK