US stocks gain on Kmart-Sears merger
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Stocks closed higher on Wall Street as investors welcomed the merger of Kmart Holding Corp. and Sears. However, climbing oil prices restricted gains.
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U.S. stocks rose on Tuesday as retail  shares like Wal-Mart Stores Inc. WMT.N got a lift from  better-than-expected January retail sales data and news of a  $3.25 billion takeover offer for Circuit City Stores Inc.  CC.N.
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On the cross rates it was at 60.1 euro cents, 81.29 Japanese yen, 42.17 pence sterling, and 1.105 New Zealand dollars. On Wall Street stocks have jumped on news of a merger between retailers Kmart and Sears
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Department store group Sears and discount retailer Kmart say they are to merge in a $11bn deal, becoming the US's third largest retailer.
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Kmart Holding Corp. and Sears, Roebuck and Co. merged in an $11 billion stock and cash deal that will create the country&#39;s third-largest retailer, after Wal-Mart and Home Depot.
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New York -- Few things stir the heart of stock investors like a huge merger deal. And last week&#39;s shotgun wedding between Kmart and Sears, two limping retailers, was no exception.
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NEW YORK - US department store operator Sears, Roebuck &amp; Co. and discount retailer Kmart Holding Corp. Wednesday said they would merge in an $11 billion deal to form the third-largest US retailer.
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Stocks jumped on Wednesday on news of  a merger between retailers Kmart and Sears,  better-than-expected earnings from computer maker  Hewlett-Packard and government data showing a moderate rise in  a key U.S. inflation measure.
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Sears and Kmart are planning to merge. With the merge, they will become the third largest US retailer, with combined revenue of $55B and more than 3,500 store locations.
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U.S. stocks rose on Monday after  software maker PeopleSoft Inc. PSFT.O accepted rival Oracle  Corp.'s ORCL.O buyout offer and data showed  better-than-expected November retail sales, signaling an uptick  in consumer spending.
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Kmart Holding Corp. reported its fourth straight quarterly profit Wednesday, but most investors&#39; focus was on the discount retailer&#39;s $11 billion acquisition of Sears, Roebuck and Co.
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US stocks rose as Kmart Holding Corp.&#39;s $11 billion offer for Sears, Roebuck &amp; Co. lifted retailers and Hewlett-Packard Co.
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U.S. stocks rose on Monday as mergers and takeover proposals totaling more than $77 billion gave investors confidence that stock prices have room to rise even as the Dow industrials ascended to another record high.
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Sears, Roebuck and Co. and Kmart Holding Corporation announced an agreement to merge into a new retail giant named Sears Holdings Corporation by March 2005, in a deal worth some 11 billion dollars (8.4 billion euros).
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Stocks bounded higher yesterday as investors shrugged off a fresh indicator of rising inflation and welcomed an $11 billion deal that combines retailers Kmart Holding Corp.
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Kmart Holding Corp. (KMRT.O: Quote, Profile, Research) said on Thursday it would sell 45 stores for $524 million to Sears, Roebuck and Co.
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U.S. stocks climbed on Tuesday as  retail shares like Wal-Mart Stores Inc. WMT.N got a lift from  better-than-expected January retail sales data, while  technology shares received a boost from a 3.6 percent rise in  Apple Computer.