The trading week, already with a full earnings calendar, kicked off with news of several mergers. Jeanne Yurman reports.
Stocks touched a two-week high Monday amid renewed M&A activity led by AT&T's mega-deal to buy Time Warner. The $85 billion tie-up brings together monster players in content and the pipes that deliver it. Sam Stovall chief investment strategist at CFRA Research says it is a positive signal for stocks and the economy. SOUNDBITE: SAM STOVALL, CHIEF INVESTMENT STRATEGIST, CRFA RESEARCH, (ENGLISH) SAYING: "Why would AT&T be doing this unless it feels as if there is some growth potential at least expecting that the economy could be improving over the next several quarters?" Other deals include TD Ameritrade buying privately held Scottrade Financial Services in a cash-and-stock deal valued at $4 billion. And in a bet that airplanes will increasingly add smart technology, aircraft component maker Rockwell Collins is snapping up B/E Aerospace, which makes parts for aircraft interiors for $6.4 billion. T-Mobile US' quarterly profit beat Street estimates, and it upped its outlook for customer additions as heavy discounting drew more subscribers. In Europe, it was a mixed showing for stocks between mergers and earnings news.