Stocks traded mostly flat today despite an encouraging jobless claims report and some major announcements on the M&A front.
The Labor Department is reporting a drop in jobless claims, down 27,000 last week to a seasonally adjusted 341,000.
After much anticipation, it was announced today that US Airways (NYSE:LCC) and American Airlines (AAMRQ) will merge in a deal worth $11 billion. The new entity will be the world's largest airline. CEO of US Airways Doug Parker will be the chief executive of the new company.
Berkshire Hathaway (NYSE:BRK.B) and private equity firm 3G Capital have teamed up to buy H.J Heinz (NYSE:HNZ) in a deal worth $28 billion. Shares of the ketchup maker initially soared following the announcement.
On the earnings front, General Motors (NYSE:GM) missed expectations, due to losses in Europe.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Campbell Soup (NYSE:CPB).
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