Merger that would create a chemicals powerhouse. According to reports, two of americas oldest companies, dupont and dow chemical, are in advanced merger talks. Both have market values around 60 billion, and the deal will likely be billed as a merger of equals. The wall street journal reports the combined firm would then split into three focused on agriculture, Speciality Chemicals and materials, and that sent shares of both companies soaring. Both dow component dupont and dow chemical rallied about an equal amount, a little less than 12 . If the deal goes through, it would cap a tumultuous year for dupont, whose ceo stepped down in october after winning a proxy battle waged by an activist investor. And a merger would be one of the years biggest. Reporter why . Why would dupont, founded more than 200 years ago, and dow, more than 100 years old, the top two suppliers of Industrial Chemicals and crop seeds, join forces . Growth . Sure. A slowgrowth economy is not a great way to keep share
Points. S p up by close to 2 points above fair value pt and the nasdaq is up by 3. 5 points. Andrew, tag, youre it. Thank you, becky. We have Corporate News for you this final thursday morning before a long weekend. We should tell you that lululemons founder and advisers, the one that was kicked out, you might recall, chip wilson for those comments about who should be wearing those pants, hes reportedly talking to some private equity firms gauging their interest in a buy out of the yoga wearmaker. The wall street journal reports there is no deal in the works. A buyout would face a number of big issues because the premium that would be needed over the companys 6 billion market capitalization might be too high. But that is what people are talking about this morning. Also, volkswagen denying the report is planning a bid for u. S. Truckmaker paccar. Earlier today. Two analysts, two Research Analysts noted included the head of dominos truck unit saying that he has been told that volkswagen
And a virus besides ebola that is being watched in the United States. This virusent says has sickened at least 500 people in 42 states. Almost all have been children. We will look at all of this and more over the hour. Lets get headlines from shelby holliday. The. S. Stocks rallied on u. S. Jobs report. The dow gained more than 200 points. 1 ,s p 500 rose more than which was its best gain in a loss two months. , eddie luhanskay chance to speak with the former aboutd coceo at pimco the departure of bill gross from the firm. I was very surprised. They weresurprised able to draw on a very deep bench of talented people who have established track records, industry awards, and who have been part of the process managing 80 of the assets. Was a surprise, but what was not a surprise was the incredible bench and a very strong team led by dan iversen. I know these people. They are superb. Dan is superb as a leader. The funds saw investors remove 23. 5 billion in september. Those are some of the t
Off, commodities surging today, copper and coffee and oil. If you look at the material sector that is leaving the market today but for the month of december. Another stock down 8 is twitter. The social messaging site getting cut to underperform from mutual, but maintaining the price target at 46, the second downgrade for twitter since last week, sun trust cut its rating to neutral last week. That is what we are hearing but it is of meteoric rise for the stock until today. Cheryl thank you, cu in 15 minutes. Adam our next guest underestimated the power of the markets, as big expectations for stocks in 2014, chief market strategist, welcome and thank you for joining us on markets now. Why i use all optimistic going into 2014. Get ready for corrections. I am optimistic for the first half of the year and for the second half we will get a correction as the market begins to sniff out the first interestrate hike by the Federal Reserve but they said they are going to leave the overnight rate u
This is what you see, big recovery. A 200point swing in the largest intraday move on the bluechip average in three weeks. It all started this morning, a weak jobs report which caused a small rally in the free market. Investors believe it added more uncertainty to the timing of the feds decision as to when the slowdown Asset Purchase Program also known as tapering. The weaker the number, mostly tapering sooner. Maybe we will see it later. The Market Action as we head into the closing bell. Traders on the New York Stock Exchange and the nymex, so weird to see the 100 plus point dropped immediately after president putin said that and see the recovery once again the market digesting that information. We spoke about this last week, i think. Syria is trumping everything. Employment numbers are important, but the geopolitical events are clearly at the head of the class for the moment and i think that is describing the trade, and there are still so many unknowns as this is going on, it is just