IAC/Interactive Corp. $2.7B to magazine publisher Meredith. I have agreed to buy
Dow Jones Industrial Average futures rose 252 points, or 0.73%, while S&P 500 futures and Nasdaq 100 futures rose 0.84% and 1.08%, respectively.
Senate Majority Leader Chuck Schumer, D.N.Y. The U.S. said early Thursday that there had been “good progress” on debt limit talks, but no agreement had yet been reached. A report Wednesday said Republicans were keen to extend the limit until December, but wanted a deal tied to a number, not a date.
In shares, Apple Inc., Amazon Inc. and Microsoft Corp. including mega cap technology companies were on a profit path for the third day in a row.
Meanwhile, IAC/Interactive Corp. The magazine agreed to buy publisher Meredith for $42.18 per share, or $2.7 billion. The deal does not include local media conglomerate Gray Television, which was sold for $16.99 per share and is set to close later this year.
Twitter Inc. inked a deal to sell mobile advertising company MoPub to AppLovin for $1.05 billion in cash. Twitter bought the company in 2013 in a deal that was valued at over $350 million.
Elsewhere, Costco Wholesale Corp. said September sales rose 15.8% from a year earlier, topping analysts’ forecasts.
Levi Strauss & Co. reported earnings and revenue that exceeded estimates because back-to-school shopping boosted sales.
In commodities, West Texas Intermediate crude fell $1.16 to $76.27 an ounce and gold rose 60 cents to $1,762.40 an ounce.
There was a boom in foreign markets.
Get Granthshala Business on the go by clicking here
The European market edged higher, with Britain’s FTSE 100 gaining 1.07%, Germany’s DAX 30 by 1.23% and France’s CAC 40 by 1.43%.
In Asia, Hong Kong’s Hang Seng index climbed 3.07% and Japan’s Nikkei 225 was up 0.54%. China’s Shanghai Composite remained closed for the holiday.