Posted on 11/06/2006 1:13:07 PM PST by Ernest_at_the_Beach
Wall Street stocks were trading near their highs by midafternoon in New York on Monday amid some bargain-hunting spurred by merger and buyout deals.The better tone in stocks came in the wake of last week’s robust October jobs report that partly eased concerns about the extent of an US economic slowdown and amid hopes of a benign outcome to the US mid-term elections.
Leading deal activity was a $3.7bn bid for Four Seasons Hotels. The $82-a-share cash offer reflected a 28 per cent premium over its closing price from last week. Shares in Four Seasons were up $18.47, or 29 per cent at $82.34, off its high of $84.25. The bid consortium includes Microsoft founder Bill Gates and billionaire Saudi investor Prince Alwaleed Bin Talal Bin Abdulaziz and Four Seasons chairman and chief executive Isadore Sharp.
Abbott Laboratories also announced plans to acquire drugmaker Kos Pharmaceuticals for some $3.7bn in cash, or $78 a share. That price is around 56 per cent above where Kos closed on Friday.
(Excerpt) Read more at mwprices.ft.com ...
"hopes of a benign outcome to the US mid-term elections."
Sounds like the implication is that the investors don't want a Dem takeover, and that the GOP surge gives them hope. So if the Dems do win afterall, then it will be interesting to see what happens on Wed.
November 06, 2006
A Look Inside That Pew Poll
********************A Leadin **************************
Pew Research has published its crosstabs for the poll that shows the Republicans tightening up the race, which I linked last night. The internals deliver even more bad news to the Democrats, as significant leads in several demographic categories have been cut drastically or wiped out entirely.
The business community praying for GRIDLOCK so's they can git some business done for a change!!!
You thought I was kiddin about "Gridlock?" Go look at the headline story on http://MarketWatch.com right now!!!
Sure enough...it's about those taxes!
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