The US market started the week on a strong note amid major telecommunication deals and stabilizing nuclear crisis in Japan.
Hot Stocks of the Day: SCHW, OXPS, LBTYA, T, PDII, RDS.B, NOK, AE, JPM
Charles Schwab Corporation (NYSE: SCHW) plans to acquire OptionsXpress Holdings Inc (NASDAQ: OXPS) for nearly $1 billion. SCHW added 0.51 percent or $0.09 to $17.65, and OXPS jumped 16.76 percent or $2.57 to $17.90.
Liberty Global Inc (NASDAQ: LBTYA) has agreed to buy Germany's Kabel Baden-Wuerttemberg GmbH for $4.5 million. LBTYA added 0.33 percent or $0.13 to $40.99.
AT&T Inc (NYSE: T) is set to acquire T-Mobile USA from Deutsche Telecom AG for nearly $39 billion. AT&T added 1.15 percent or $0.32 to $28.26.
PDI Inc (NASDAQ: PDII) reported an increase of 94 percent in its Q4 revenue to $44.7 million. PDII gained 6.28 percent or $0.52 to $8.80.
Royal Dutch Shell PLC (NYSE: RDS.B) has won approval from the US regulators for deep water exploration in the Gulf of Mexico. RDS-B gained 2.19 percent or $1.53 to $71.31.
Nokia Corporation (NYSE: NOK) announced that the massive earthquake in Japan will have a minimal effect on its Q1 results. NOK added 1.45 percent or $0.12 to $8.40.
Adams Resources & Energy Inc (AMEX: AE) announced Q4 net earnings of $2.39 million or 57 cents per common share , compared to net loss of $1.09 million or 26 cents a share it posted a year earlier. AE was up 2.50 percent or $0.65 to $26.65.
JP Morgan Chase & Co (NYSE: JPM) intends to stop offering debit-card rewards for its customers. JPM lost 0.24 percent or $0.11 to $45.63.
Market Watch:
Dow Jones Industrial Average gained 1.50 percent or 178.01 points to 12,036.53, and Nasdaq Composite edged up 1.83 percent or 48.42 points to 2,692.09. The Standard and Poor's 500 added 1.50 percent or 19.18 points to 1,298.38.