Market Focus

DirecTV & Dish Network

Shares of DirecTV and Dish Network surged on reports the two companies could merge. Dish Network Chairman, Charlie Ergen reportedly contacted DirecTV CEO to discuss a merger of the two largest satellite TV operators in the country. Shares of both companies jumped about six percent. DirecTV closed at $77.34 and Dish closed at $62.09.

Toyota

Toyota will buyback nearly two percent of its shares worth about $3.5 billion dollars. This is the automakers biggest buyback in more than a decade. The stock rose nearly two percent on the news to $110.53.

Baxter

Baxter is reportedly exploring a sale of its vaccine unit in an effort to focus on its key businesses. Separately, there are also reports of a shortage of injectable nitroglycerin, which is the go-to treatment used on patients suffering form a heart attack. Baxter is the country’s only manufacturer of the drug. The stock rose nearly three percent to $70.80.

General Electric

General Electric will build a $100 million jet engine plant in Indiana later this year to meet demand for its new engines. The the parts will be used by Airbus and Boeing for passenger jets. Shares fell slightly to $25.62.

 

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