Stocks Rally on Positive U S Economic Data and Deals
Investors pushed major indexes higher as consumer spending and incomes rose in February and merger news boosted energy and drug stocks. The Dow climbed 263.65 points to 17 976.31 while the S&P 500 gained 25.22 points and the Nasdaq rose 56.22 amid expectations of a gradual Fed rate path.
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UnitedHealth to acquire Catamaran in $12.8B PBM expansion
Minneapolis based UnitedHealth Group to pay 61.50 per share in an all cash deal to buy Catamaran Corp, boosting OptumRx to manage about 1 billion prescriptions annually. The acquisition, awaiting regulatory and shareholder approvals, nearly doubles OptumRx's PBM business and makes Catamaran the fourth largest PBM nationwide.
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McDonald's to test all day breakfast in San Diego area
McDonald's plans an all day breakfast test at select San Diego area locations starting next month. The test will offer a partial breakfast menu including some breakfast sandwiches and hash browns while avoiding specifics on which items will be included.
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McDonald’s seeks names of workers who spoke to union
McDonald’s on Monday asked for the names of current and former employees who talked with the Service Employees International Union and for the content of those talks. SEIU and allies oppose the request, calling it privileged or irrelevant. The move came at the start of hearings at the NLRB regional office. Attorney Willis Goldsmith defended the company saying they can respond when attacked.
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