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NEW YORK (AP) — U.S. stocks are rising Monday morning following a series of corporate deals. The largest by far is AT&T's plan to buy Time Warner for $85.4 billion, but investors aren't sure if the combination will happen. Aerospace company Rockwell Collins agreed to buy B/E Aerospace. Technology and industrial companies are making some of the largest gains while phone companies are lagging the rest of the market.
AT&T Inc Chief Executive Randall Stephenson on Monday told investors he expects the planned $85.4 billion acquisition of Time Warner Inc to receive regulatory clearances as investors showed skepticism by pushing shares of both companies lower. AT&T said on Saturday it had agreed to buy Time Warner for $107.50 per share, giving it control of cable TV channels HBO and CNN, film studio Warner Bros, and other coveted assets in a deal that will reshape the media landscape if it receives government approvals. "While regulators will often times have concerns with vertical integrations, those are always remedied by conditions imposed on the merger, so that's how we envision this one to play out," Stephenson told CNBC in an interview.
OMAHA, Neb. (AP) — Online brokerage TD Ameritrade is buying Scottrade in a $4 billion cash-and-stock deal that would significantly expand its branch network at a time when many financial firms are expanding automated adviser programs.