Microsoft buys Nuance for US$19 7B in bet on health care bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
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(Reuters) - Wall Street’s main indexes opened lower on Monday, with the S&P 500 and the Dow retreating from record levels, as investors geared up for the start of the earnings season and a key inflation report this week.
The Dow Jones Industrial Average fell 25.54 points, or 0.08%, at the open to 33,775.06. The S&P 500 opened lower by 4.09 points, or 0.10%, at 4,124.71, while the Nasdaq Composite dropped 45.75 points, or 0.33%, to 13,854.44 at the opening bell.
Reporting by Shivani Kumaresan in Bengaluru; Editing by Maju Samuel
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(Reuters) - The S&P 500 and the Dow Jones indexes retreated from record levels on Monday, as investors geared up for the start of the corporate reporting season and a key inflation report later this week.
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A pullback in the benchmark 10-year bond yield from 14-month highs in April eased worries about higher borrowing costs, helping richly valued technology stocks gain ground and drive the S&P 500 and the Dow to record levels.
“Even with stocks at record highs, we expect further upside thanks to supportive fiscal and monetary policy, improving economic data and faster COVID-19 vaccination rates,” said Tom Mantione, managing director, UBS Private Wealth Management in Connecticut.
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SAN DIEGO, April 12, 2021 /PRNewswire/ Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Nuance Communications, Inc. ( Nuance or the Company ) (NASDAQ: NUAN) breached their fiduciary duties in connection with the proposed sale of the Company to Microsoft Corp (NASDAQ: MSFT).
On April 12, 2021, Nuance announced that it had entered into a definitive merger agreement with Microsoft. Under the terms of the deal, Nuance stockholders will receive $56.00 per share in cash for each share of Nuance common stock they own.
The investigation concerns whether the Nuance board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Nuance shares of common stock.
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