Welcome to The Daily Stock Report...brought to you by Quality Stocks.Net, performance tracked daily.
I'm James Christopher and for Monday December 11th, we're bringing you the latest news from around the markets as well as the top movers to look out for today...
U.S. stocks were little changed on Monday as investors kept cautious a day before a Federal Reserve rate-setting meeting. Rates are expected to remain unchanged. The market's lack of movement was in spite of a string of merger-and-acquisition developments, which ordinarily boost share prices.
The Dow Jones industrial average was up (nearly 9) points, or 0.07 percent, at 12,316.46. The Standard & Poor's 500 Index was down nearly ½) point, or 0.04 percent, at 1,409.22. The Nasdaq Composite Index was down 6.71 points, or 0.28 percent, at 2,430.65.
The Fed's monetary-policy committee will meet on Tuesday and is expected to keep the fed funds rate at the current 5.25 percent.
Two investor groups are said to be vying for Saber and a third is considering a bid. An acquistion deal to acquire Saber could be struck as early as Tuesday.
A successful bid would mean that two of the top four online travel agencies would be private.
Earlier this year, an affiliate of the Blackstone Group bought Travelport, operator of the Orbitz travel site.
Saber had a market capitalization of about $3.7 billion based on Friday's closing share price of $28.32.
In our small cap news today...
Xero Mobile, a new Cell Phone service specifically designed for college students of America. Combining the markets of Mobile telephony and Advertising, Xero will provide students with subsidized talk time in return for viewing targeted, relevant advertising.
Los Angeles-based Xero Mobile is both an advanced Mobile Virtual Network Operator and a media sales organization that combines two of the largest and most dynamic emerging markets today.
Xero is targeted to the 17.3 million-strong college market, and will provide high specification handsets without contract and at notably competitive prices.
Previously at $0.32, XERO closed Friday up 28% at $.41 with 214,000 shares traded.
eTelcharge.com, Inc., a development stage company who offers traditional credit card merchant services, checks, and other existing financial infrastructure in the United States have unrolled a proprietary new online currency that will provide online shoppers the exclusive choice to charge approved transactions to their telephone bill.
Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge consumer transactions on the Internet. This payment option is a perfect match for the millions of individuals who do not own a credit card. eTelcharge.com started as the only company with the ability to charge a variety of products to the home phone bill.
E telecharge finished it's week up better than 100% closing Friday at .$04.
And that's it for today's news makers... Be sure to join us every market day for the latest commentary on small cap to large cap and everything in between brought to you by Quality Stocks. Net.
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Thank you for tuning in, I'm James Christopher. Have a great day and we'll see you tomorrow...right here on the daily report.
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8:30Wall Street Prep Lesson 5: Mergers and Acquisit...by ZmeY01,466 views
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