The Deal
Tuesday, November 24, 
3:19 pm

Deal Stocks inch forward behind timid market

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bull.jpgThe markets finished up slightly as investors digested Treasury Secretary Henry Paulson's blueprint for reform for the financial markets. Financial Deal Stocks made some progress while companies such as Monsanto Co, who pulled off an acquisition fell into negative territory Monday. Overall, the Dow closed up 46.49, or 0.38%, to 12,262.89 while the Nasdaq finished up 17.92, or 0.79%, to 2,279.10. Also, oil prices fell more than $4 a barrel. Here's a closer look at the performance of Deal Stocks on Monday:

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  • Citigroup Inc. [C] advanced 3.4% as the New York-based financial services company announced a restructuring plan separating its global business into four units with plans to break out its credit card business from its broader consumer banking segment.
  • Clear Channel Communication Inc. [CCU] finished slightly higher as its board announced it would defer its first-quarter dividend payment as requested by Bain Capital LLC and Thomas H. Lee Partners LC given the delayed closing of Clear Channel's merger with CC Media Holdings Inc.
  • Lastly, Monsanto  [MON] finished down slightly as it acquired Netherlands' De Ruiter Seeds Group BV for €546 million ($863 million).

- Gerald Magpily

 





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