Microsoft buys aQuantive for $6B; Dow hits record high

CBS News

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[Music] more big merger news and a stronger than expected report on consumer sentiment drew the Bulls back to Wall Street the Dow closed up nearly 80 points to another record high the NASDAQ Composite climbed 19 Microsoft is making the biggest acquisition in its history paying $6 billion in cash for a quantive that's an online advertising agency Microsoft is paying an 8 5% premium for the company as it tries to catch up to Rivals Google and Yahoo in the online advertising Market well it is the end of the road for the Federated name plate shareholders approved the plan to change the retail giant's name to Macy's the change goes into effect June 1st the company's stock symbol will also change to M on the New York Stock Exchange the iPhone is one step closer to store shelves Apple won the required FCC approval for the music playing smartphone it hits stores next month and you could find a bargain if you want to travel by air in the US this summer after more than a dozen failed attempts to hike fairs in the past year the average ticket is just 1% higher concerned about weak demand this summer some airlines are now making more seats available at lower prices as they scramble to fill empty seats that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus

Oil nears $65 a barrel; Dow's record rally ends

CBS News

Transcript

investors will be keeping an eye on the oil pits today crude prices jumped more than two dollars to nearly 65 dollars a barrel thursday that's after news of a glitch at a louisiana refinery and the shutdown of a northeast gas pipeline that kept pressure on stocks and ended the blue chips record rally in the end the dow lost nearly 11 points the nasdaq composite closed off about eight the growing number of mortgage defaults and foreclosures will not derail the economy so says federal reserve chairman ben bernanke he did promise the fed would crack down on abusive lending practices but warned that excessive regulation of mortgage lending could do more harm than good get ready to dig a little deeper when you head to the grocery store economists say the price of milk could jump another 10 percent this year the main culprit corn it's used in many grocery store foods and it's also fed to dairy cows hens and cattle in addition corn is now used to make billions of gallons of ethanol each year the growing demand for the corn crop is sending a ripple effect into every aisle of the supermarket overall food prices are up nearly four percent in the past year and the american dream is also getting more expensive the average interest rate on a 30-year mortgage rose this week to 6.21 that's up from 6.15 last week while on a 15-year loan popular with refinancers the rate rose to 5.92 that's your money watch be sure to log on to cbsnews.com for more business headlines in new york i'm alexis christopher