Wall Street Addict

Stocks rose on Monday, as optimism about earnings and M&A activity in the industrial sector countered the worries about worsening credit conditions that led to a global equity sell-off last week.
Expectations for quarterly earnings growth by Standard & Poor's 500 companies were raised to 6.8 percent compared with the year-ago period from 6.0 percent one week earlier, according to Reuters Estimates.
Shares of industrial companies gained after Ingersoll-Rand Co. Ltd. (NYSE:IR - News) said it planned to sell its Bobcat machinery business and two other units to South Korea's Doosan Infracore.
Ingersoll-Rand shares rose 6.6 percent to $51.37, while the S&P industrials index (^GSPI - News) rose 1.4 percent.
But that deal aside, there was a lack of the typical flurry of takeover and buyout announcements seen on many Mondays this past year. Tightening lending standards are threatening to slow or halt the pace of corporate buyouts, including several by private equity firms, which have fueled a rally in stocks.
Source: Reuters

Labels: Earnings, IR, Wall Street