NEW YORK (AP) — The stock market is in negative territory after opening mixed this morning. At 10:35 a.m. Eastern Time, the Dow Jones industrial average is down 66 points to 16,888. The S&P 500 is down 10 points to 1,968. And the Nasdaq composite is down 35 points to 4,414.
NEW YORK (AP) — Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion. The boards of both companies have unanimously approved the deal, which is expected to close by early next year.
NEW YORK (AP) — Virgin America’s next destination is Wall Street. The California-based airline filed today for an initial public offering of shares. The company says it could raise as much as $115 million, but that number is likely to change. Virgin America operates out of Los Angeles and San Francisco, flies to 22 airports in the United States and Mexico and has a fleet of 53 planes.
SEOUL, South Korea (AP) — Samsung Electronics Co. says it’s delaying sales of its first Tizen-powered smartphone. It’s the latest setback to the company’s ambition to create a mobile platform to rival Google’s Android or Apple’s iOS. Samsung had planned to start selling the phone, the Samsung Z, in Russia this quarter. But the company is indicating that more time is needed to expand Tizen’s following of app developers and apps.
NEW YORK (AP) — Real estate website operator Zillow is buying competitor Trulia in a $3.5 billion all-stock deal. The combined company will keep both the Trulia and Zillow brands. The companies say there’s limited consumer overlap of their brands, as about half of Trulia.com’s monthly visitors don’t visit Zillow.com. Both companies’ boards approved the deal, but their shareholders still must approve it. The transaction is targeted to close next year.
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