US STOCKS-S&P 500 ends up with Apple, Pfizer; Nasdaq dips

lunes 28 de abril de 2014 16:44 GYT

(Updates to close)

* Pfizer works on next move in takeover bid for Astrazeneca

* leads Nasdaq's loss

* Bank of America drops after suspending dividend increase, buyback plan

* Dow up 0.5 pct; S&P 500 up 0.3 pct; Nasdaq down 0.03 pct

By Caroline Valetkevitch

NEW YORK, April 28 (Reuters) - The S&P 500 ended higher on Monday after a volatile session, as gains in Apple and Pfizer helped offset another round of selling in some high-growth tech shares.

The Nasdaq ended slightly lower but rebounded late in the session from a fall of over 1 percent. Leading the Nasdaq down was, which extended Friday's sharp decline a day after its earnings report.

A flurry of merger and acquisition activity in the pharmaceutical sector lifted shares. Shares of Pfizer Inc gained 4.2 percent to $32.04 after the U.S. drugmaker was said to be working on its next move in a potential $100 billion bid to take over Britain's AstraZeneca Plc, after two earlier bids were rejected. Pfizer's gains helped to lift the Dow.   Continuación...