U.S. stocks fluctuated, after the Standard &
Poors 500 Index climbed to a record last week, as a slump in small-cap
shares and concern over Japans recession offset corporate deals.
DreamWorks Animation SKG Inc. slipped 15 percent
after Hasbro Inc.s approach to acquire the studio was said to have ended
without agreement. Actavis Plc climbed 2.1 percent after reaching a
deal to pay about $66 billion for Allergan Inc. Baker Hughes Inc. jumped
10 percent after agreeing to sell itself to Halliburton Co. for $34.6
billion.
The S&P 500 slid 0.1 percent to 2,038.51 at
12:24 p.m. in New York. The Dow Jones Industrial Average rose 1.11
points, or less than 0.1 percent, to 17,635.85. The Russell 2000 Index
of smaller companies lost 0.6 percent. Trading in S&P 500 companies
was 14 percent below the 30-day average for this time of the day.
Japan unexpectedly sank into a recession last
quarter as it struggled to cope with Aprils sales-tax increase. The
worlds third-largest economy shrank an annualized 1.6 percent, after a
revised slump of 7.3 percent in the previous three months. That missed
projections for a 2.2 percent gain in the third quarter.
Source: Bloomberg
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