Banks Lead US Stocks Broadly Higher in Early Trading
DONE DEAL: Spectranetics surged 26.2 percent after Dutch electronics
and health care technology company Philips said it agreed to buy the medical device company for $38.50 a share, or $1.68 billion.
BANKING ON FINANCIALS: Banks were trading higher for the second day in a row amid higher expectations of rising interest rates.
BEAT THE STREET: General Mills rose 2.6 percent after the maker of Cheerios cereal, Yoplait yogurt
and other packaged foods served up fourth-quarter earnings and revenue that exceeded Wall Street’s expectations.
KEEPING SCORE: The Standard & Poor’s 500 index gained 12 points, or 0.5 percent, to 2,431 as of 10:06 a.m. Eastern time.
U. S. stocks moved broadly higher in early trading Wednesday, recouping some of the losses from a day earlier.
