MARKET PULSE-Pfizer, AT&T, Lifelock, Stemcells, Intermune, Gogo
U.S. stocks opened lower on Monday, on the heels of back-to-back weekly declines for the S&P 500 as investors grew cautious over stock valuations with indexes near record levels amid mixed economic data. The Dow Jones industrial average .DJI fell 36.34 points, or 0.22 percent, to 16,454.97, the S&P 500 .SPX lost 3.61 points, or 0.19 percent, to 1,874.25 and the Nasdaq Composite .IXIC dropped 7.96 points, or 0.19 percent, to 4,082.63.
** PFIZER INC, $29.59, +1.61 pct
** ASTRAZENECA, $71.88, -10.46 pct
Britain's AstraZeneca rejected a sweetened and "final" offer from Pfizer, casting serious doubt on the U.S. drugmaker's plan for a merger to create the world's biggest pharmaceuticals group.
** AT&T INC, $35.999, -2.02 pct
** DIRECTV, $84.46, -2.00 pct
AT&T plans to pay $48.5 billion to buy DirecTV, in the latest sign that the wireless industry and the U.S. television market are set to converge as customers consume more video on their mobile devices. The deal, announced on Sunday, highlights AT&T's pressing need for fresh avenues of growth beyond the maturing U.S. cellular business, which has become increasingly competitive. Continuación...