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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 16, 2004
Page
7
Market in Review shows mixed results with various stock quotes and percentage changes across sectors. Notable figures include increases and declines in prices, reflecting overall volatility in trading activity for the day.
Sprint Corp. agrees to acquire Nextel Communications for 35 billion, forming Sprint Nextel with about 35 million wireless subscribers and 40 billion dollars in annual revenue. The merger aims to challenge Cingular and Verizon, but must resolve culture and technology gaps, with potential cost cuts and phone upgrades for customers.
Stocks extended their rally with modest gains as Lehman Brothers posted strong results and Sprint announced a $35 billion deal to buy Nextel Communications. The Dow rose 15.00 to 10,691.45, the S&P 500 gained 2.34 to 1,205.72, and the Nasdaq climbed 2.71 to 2,162.55 as oil prices advanced after a mixed weekly inventory report.
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