Midday S&P Is Up After a String of Company Acquisitions
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is up .18% to 1 411.78 as of 2:25 p.m. EST. Leading this rise is Akamai Technologies (NASDAQ:AKAM) which is down 9.32% to $38.81 per share perhaps due to its acquisition of Verivue. Starbucks (NASDAQ:SBUX) is also up rising 5.93% to $53.79 per share after being upgraded to buy by several analysts. On the other hand Freeport-McMoRan Copper & Gold (NYSE:FCX) is continuing the freefall it started yesterday dropping 4.07% to $30.15 per share today after its acquisitions of Plains Exploration & Production Company (NYSE:PXP) and McMoRan Exploration (NYSE: MMR).