| The KUIK Morning Market Report for Wednesday, October 21: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 24 | points | 17,241 | 7:19 AM | ||
| S&P500 | Down | 0.0% | percent | 2,030 | (0.89) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,874 | (7.43) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 2.88 | 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 SNDK, at $86.50 a share, a 15% premium to yesterday’s close. Western Digital is facing challenges to its core hard-disk-drive businesses from flash and solid-state drives, and acquiring SanDisk would be a driver of new growth. | |||||||
| Chinese stocks had their biggest drop in more than a month. The Shanghai Composite fell 3.1% to close at 3,320.68, its lowest level in nearly a week and its biggest daily loss in five weeks, while the Shenzhen index fell 5.9% to 1,889.13. | |||||||
| About 30% of trips on Uber Technologie sride-sharing app now take place in China, Travis Kalanick, the company’s co-founder and chief executive said today in an interview with the Wall Street Journal. The number of Uber trips in China is nearly as large as in the U.S., he said. | |||||||
| 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/japan-stocks-rise-but-other-asia-stocks-struggle-after-weak-us-lead-2015-10-21 | |||||||
| http://www.marketwatch.com/story/uber-says-china-counts-for-30-of-all-trips-2015-10-21 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||