Stocks continued last weeks rally as better than expected manufacturing data outshined a drop in construction spending. Heading into the last hour of trading, the Dow climbed .6%, while the S&P 500 and Nasdaq added one percent.
When was the last time you saw an Avon (NYSE:AVP) lady? The company has been struggling, but today rejected a ten billion dollar takeover bid from Coty, a smaller beauty products company. That offer was a nice premium to Avon's closing price on Friday, of $19.36. That stock up over 17% today.
Teenage clothing retailer Abercrombie & Fitch (NYSE:ANF) jumping 5% on an upgrade by an analyst at Brean Murray. The firm said unseasonably warm weather should boost sales, and with its $65 price target, the stock looks cheap. Abercrombie up 5% to $52 in today's session.
Express Scripts (NASDAQ:ESRX) up 2-1/3% on news it closed its $29.1 billion acquisition of Medco Health, creating the largest pharmacy benefits manager.
Tomorrow, traders will be looking at data on factory orders, and at 2 pm, a statement from the Fed.
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