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Published on Oct 24, 2016
Stocks
are climbing Monday as mergers and acquisitions -- led by AT&T's
blockbuster agreement to buy Time Warner -- and earnings reports
dominate market movement, while positive manufacturing data also gave a
boost. AT&T's shares fell as it agreed to buy Time Warner in an
$85.4 billion deal announced this weekend. The telecommunications
company still has to pass regulatory approval amid politician's negative
rhetoric surrounding the deal. T-Mobile's shares jumped after reporting
adjusted earnings of 27 cents a share, beating estimates of 21 cents a
share. The mobile communications service company said total revenue
increase 17.8% to $9.2 billion and it added 2 million customers during
the quarter. And in a deal valued at $8.3 billion, including debt,
Rockwell Collins agreed to acquire B/E Aerospace . Rockwell Collins is
trying to increase its exposure to the commercial aircraft cabin. On the
deal news, Rockwell Collins stock fell, while B/E Aerospace shares
jumped. TheStreet's Valerie Young reports from Wall Street.
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