Author: Elena Todorova
123jump.com
Last Update: 12:09 PM EST December 21 2005
A raft of merger-and-acquisition news lifted market sentiment. Tech stocks gained after computer hard-drive maker Seagate said it will pay $1.9 billion in stock for rival Maxtor Corp. In earnings news, FedEx posted 33% net income rise for the Q2, well above expectations. The company lifted its full-year earnings outlook. Nike Inc reported that Q2 profit advanced 15% to $1.14 a share on 10% revenue growth, beat estimate.
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