Traders-Blog.com

U. S. stocks ended higher today as a decline in crude-oil prices drew investors back into equities. The Dow rose 42.78 points to close at 10,485.65. Besides, both the Nasdaq and the S&P posted gains. The Nasdaq closed at 1,992.52, after rising 1.46 points, while the S&P rose 2.86 points to close at 1,174.28. Today, may crude fell 1.4 percent to close at $54.05 a barrel on the New York Mercantile Exchange.

SunGard Data Systems Inc., whose software handles most Nasdaq stock market trades, had the biggest rally in the S&P after seven buyout firms agreed to acquire the company for 10.4 billion. Silver Lake partners is leading a group of buyout firms that will pay $36 a share for SunGard, which is 44 percent more than the stock price on March 21, when the company said it received an offer. The purchase is the largest takeover by buyout firms since 1989. SunGard surged $2.81 to close at $34.36.

Qwest Communications International Inc., gave MCI Inc. one week to accept its $8.45 billion takeover offer. According to Richard Notebaert, Qwest Chief Executive Officer, the offer will be withdrawn if MCI doesn’t agree to it by midnight April 5. Several MCI shareholders have critiziced the Verizon bid because it is too low. Instead, investors had encouraged Qwest’s bids.

Shares of healthcare provider HCA surged 8% after the hospital chain boosted first quarter earnings guidance and set plans to sell 10 hospitals. HCA said it would make 88 cents to 93 cents a share for the quarter. Besides, HCA hired Merrill Lynch to help it divest itself of 10 acute-care hospitals in six states. The 10 hospitals had 2004 revenue of $654 million.

After a temblor with a magnitude of 8.7 was registered off the coast of Indonesia, shares of earthquake-protection technology company Taylor Devices surged more than 40 percent. The Pacific Tsunami Warning Center said a new tsunami was possible and advised authorities in the various countries in the region to evacuate coastal areas. Taylor Devices, which gained more than 100 percent after the December catastrophe, ended up 44.7 percent to close at $4.79.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter