A mixed start for stocks on Wall Street
May. 19, 2014
NEW YORK (AP) — Stocks are little changed in early trading on Wall Street as investors look over the latest news on corporate deals.
The Dow Jones industrial average slipped six points, less than 0.1 percent, to 16,483 in the first few minutes of trading Monday.
The Standard & Poor's 500 index was flat at 1,878 and the Nasdaq composite rose eight points, or 0.2 percent, to 4,098.
AstraZeneca plunged 10 percent after the British pharmaceutical company rejected a sweetened takeover offer from U.S. rival Pfizer. Pfizer's stock rose 2 percent on the news.
AT&T fell 2 percent after the company said late Sunday that it plans to buy satellite TV provider DirecTV for $48.5 billion. The proposal could face tough regulatory scrutiny from regulators. DirecTV also fell 2 percent.