U.S. stocks closed flat despite a spate of merger news; 10-year interest rates were unchanged at 4.59%, but energy prices traded sharply lower. The Dow Jones Industrials slipped 6 points and the CBOE Volatility Index (VIX) jumped 5% to 10.59. In M&A (Merger & Acquisition) news, Biomet (BMET) accepted a $44 bid from private equity interests, Icos (ICOS) agreed to a $34 deal with Eli Lilly (LLY), and Express Scripts (ESRX) made a surprise $58.50 cash and stock offer for Caremark (CMX), topping a bid by CVS. Options’ trading volume […]

U.S. stocks closed flat today as 10-year interest rates rebounded to 4.57% on a stronger than expected retail sales report for November; energy prices also moved higher. The Dow Jones (30 Industrials) added 2 points and the CBOE Volatility Index (VIX) fell 4% to 10.17. Airline issues traded actively on news of a bid by AirTran (AAI) for Midwest Air (MEH), and media reports of merger talks between Continental and United Air. Options’ trading volume leaders included General Electric (GE) following yesterday’s announcement of a dividend increase, Altria (MO), and […]