Sysco definitely needed some kind of a jolt. Earnings this year were disappointing, with net profit down 12% from the previous year. Numbers like that put a drag on the stock, which was up only 8% in an otherwise booming market. But news that Sysco is buying U.S. Foods sent the stock soaring as much as 25%.
stock news today
Stock Market News Today, Nov. 25: Stocks are trading a bit higher this morning, with the Nasdaq topping 4,000 for the first time since 2000 and the Dow Jones Industrial Average and the S&P 500 primed for another record day.
The biggest market news today: Global leaders reached a deal with Iran regarding its nuclear program.
Investors are increasingly concerned that the conflict will not be resolved soon and fear the political stalemate will extend to the debt ceiling issue.
Without a debt ceiling resolution by Oct. 17, the United States would be in default, which would have a more damaging effect on the economy than this shutdown.
A few major mergers and acquisition deals are claiming headlines in stock market news today.
Last month, stocks suffered their biggest monthly decline in a year. But today stocks are kicking off September on a positive note after a three-day weekend. Stocks are rebounding from last week's selloff, stemming from fears of a U.S. strike against Syria.