Stocks rose for third straight day, pushed by Microsoft’s $8.5 billion deal to buy Skype, along with positive corporate news and economic data. U.S. home prices continued their sharp drop during the first quarter, declining 4.6% from a year ago. Disney rose more than 2% ahead of earnings and fell 3% in aftermarket trading, missing forecasts. Tech stocks put in an upbeat performance, aside from Microsoft, which declined 0.6%. Cisco rose 1% ahead of its quarterly results today after the closing bell. Google unveiled its cloud-based music service, which will allow users to upload music for later streaming. Implied volatility dropped sharply to the 15 level.
Wednesday, May 11, 2011
Ended higher for third day
Stocks rose for third straight day, pushed by Microsoft’s $8.5 billion deal to buy Skype, along with positive corporate news and economic data. U.S. home prices continued their sharp drop during the first quarter, declining 4.6% from a year ago. Disney rose more than 2% ahead of earnings and fell 3% in aftermarket trading, missing forecasts. Tech stocks put in an upbeat performance, aside from Microsoft, which declined 0.6%. Cisco rose 1% ahead of its quarterly results today after the closing bell. Google unveiled its cloud-based music service, which will allow users to upload music for later streaming. Implied volatility dropped sharply to the 15 level.
