"Successful investing is going against the momentum and against the things that seem most logical in the present space."

Monday, July 23, 2007

Close: Markets Up On Earnings, Deals

The Dow gained 92 points to 13,943 gaining .67%, while the S&P 500 gained 7.47 or .49%, closing at 1541.

Merck, Halliburton, Schering-Plough and Taser International all posted earnings that beat analyst's estimates.

In announced deals, Transocean Inc. and the GlobalSantaFe Corporation said today that they would seek to consolidate their lead in the fast-growing oil rig market. Hewlett-Packard said it will buy data center automation software company Opsware Inc. for about $1.6 billion and equipment rental company United Rentals said it had accepted a $4 billion takeover bid from private equity fund Cerberus Capital Management.

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