BUZZ-U.S. Stocks on the Move-Alibaba, ASM International, Covance, Nymox
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The S&P 500 and the Dow touched intraday records on Monday before pulling back to trade close to unchanged, while strength in semiconductors boosted the Nasdaq. The Dow Jones industrial average was down 0.19 percent at 17,357.19, the S&P 500 was down 0.11 percent at 2,015.88 and the Nasdaq Composite was up 2.18 points, or 0.05 percent, at 4,632.92.
** ALIBABA GROUP, $101.29,+2.73 pct
The Chinese e-commerce giant broke through the $250 billion market-cap club a day before its first earnings announcement.
Portfolios run by T. Rowe Price Group and Fidelity Investments were the largest mutual fund investors in Alibaba Group, according to recent fund disclosures. Brokers involved in the IPO had issued positive reports once the blackout ended last week, with Goldman Sachs the most conservative among the bulge bracket brokers.
** SAPIENT CORP, $24.57, +41.86 pct
Publicis, the world's third-largest advertising agency, has agreed to buy the digital ad specialist for $3.7 billion in cash as it seeks to accelerate growth after a botched merger earlier this year. Continued...