US STOCKS-Wall St near flat as deal news offsets housing data

lunes 28 de julio de 2014 15:17 GYT

* Dollar Tree offers to buy Family Dollar; deal valued at $9.2 bln

* June pending home sales unexpectedly fall

* Dow up 0.1 pct; S&P 500 up 0.05 pct;, Nasdaq off 0.04 pct (Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, July 28 (Reuters) - U.S. stocks barely moved on Monday as the latest deal news offset losses following soft data on the housing market and services sector.

Dollar Tree Inc offered to buy rival discount chain Family Dollar Stores Inc for about $8.5 billion. The transaction, including debt, values Family Dollar at about $9.2 billion.

In other deal news, Zillow Inc agreed to buy Trulia Inc for $3.5 billion in stock in a deal that would combine the two most popular U.S. real estate website operators.

While acquisition activity limited the market's decline, investors found few reasons to buy because of the data, which was among the latest to suggest that the economy's momentum was slowing.

An index of pending home sales unexpectedly fell 1.1 percent in June, the National Association of Realtors said. The report followed an 8.1 percent drop of new home sales in June, the biggest slump in almost a year. The PHLX housing sector index declined 1.6 percent. Shares of D.R. Horton Inc, the No. 1 U.S. homebuilder, were down 1.4 percent at $21.30.   Continuación...