| The KUIK Market Update for Wednesday, October 21: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 23 | points | 17,242 | 8:07 AM | ||
| S&P500 | Down | -0.1% | percent | 2,029 | (1.40) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,871 | (10.46) | ||
| 30 Year Treasury | Down | (5) | Basis Points | 2.87 | Annual Yield | ||
| Western Digital has agreed to buy SanDisk for $19 billion in cash and stock, a deal that positions the company for growth in the server and storage industry. The offer values SanDisk at $86.50 a share, a 15% premium to yesterday’s close. Western Digital is facing challenges to its core hard-disk-drive business from flash and solid-state drives, and acquiring SanDisk would be a driver of new growth. | |||||||
| Oil prices fell today after the U.S. Energy Information Administration reported an increase of 8 million barrels in crude supplies for the week ended October 16. Analysts polled by Platts expected supplies to be up by only 2.7 million barrels, while the American Petroleum Institute said inventories rose 7.1 million barrels. Gasoline supplies fell by 1.5 million barrels. December crude is off 2.1% to $45.17 a barrel on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/western-digital-to-buy-sandisk-for-19-billion-2015-10-21-71035750 | |||||||
| http://www.marketwatch.com/story/oil-continues-to-decline-after-eia-reports-8-million-barrel-jump-in-crude-supplies-2015-10-21?link=MW_home_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||