| The KUIK Morning Market Report for Friday, May 29: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (72) | points | 18,053 | 6:45 AM | ||
| S&P500 | Down | -0.3% | percent | 2,115 | (6.10) | ||
| Nasdaq Composite | Down | -0.2% | percent | 5,089 | (8.93) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 2.86 | Annual Yield | ||
| Intel is in talks to buy chip maker Altera for about $15 billion, according to the New York Post.The newspaper said Intel could pay as much as $54 a share for Altera, marking a 15% premium over Altera’s Thursday closing price of $46.97. In April, Altera rejected a $54-a-share bid from Intel, but that was before it reported disappointing earnings. If the deal goes through this time, it will be the largest acquisition ever for Intel. At the open Intel is up 1.2% to $34.44 a share while Altera is up 4.8% to $49.60 a share. | |||||||
| The Commerce Department reports that US gross domestic product fell by 0.7% annually in the first quarter. Last month the government originally reported a 0.2% increase. The markdown in the economy’s performance stemmed from a smaller inventory buildup and higher imports than the preliminary data showed. Consumers spent at moderate rate and businesses cut overall investment except in residential housing. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/intel-in-talks-to-buy-altera-for-15-billion-report-2015-05-29?dist=beforebell | |||||||
| http://www.marketwatch.com/story/us-gdp-turns-negative-in-first-quarter-again-2015-05-29?dist=beforebell | |||||||
| For today’s Morning Market Report click to listen-> | |||||||