After showing a notable upward move in early trading on Monday, stocks are seeing continued strength in the late morning. The major averages remain firmly in positive territory, although the Dow has pulled back well off its best levels of the day.
Much of the strength on Wall Street stems from some merger-and-acquisition news, including news that health insurer Cigna (CI) has agreed to acquire HealthSpring for $3.8 billion. The deal values HealthSpring at $55 per share, a 37 percent premium to its closing price on Friday.
Regards,
Don
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