3M Enters Into Agreement with Ceradyne and 3 Dow Movers Buzzing Now

JPMorgan Chase & Co. (NYSE:JPM): United States stocks are closing at all-time highs as we go into the fourth quarter. The catalyst seems to be a belief that the Federal Reserve’s endeavors to inject money into the financial system should keep asset prices moving higher, but as investors look forward, they wonder just how much further up stocks can push, says the Wall Street Journal. Some bears believe that many investors and stocks might simply wait until there is more clarity on crucial fiscal issues in the United States and Europe and also with the world economic outlook.

3M Company (NYSE:MMM) will acquire Ceradyne (NASDAQ:CRDN) for $35.00 per share in a transaction that should close in the fourth quarter. The proposed purchase has an total value of around $860 million, or about $670 million, subtracting cash, cash equivalents, short-term investments and debt acquired. Through the terms, a subsidiary of 3M will begin a tender offer to buy all outstanding shares of Ceradyne within ten business days. On a GAAP reported basis, the buyer estimates the purchase to be 5 cents dilutive to earnings during the first 12 months, but excluding purchase accounting adjustments and anticipated integration costs, the acquisition should be 1 cent accretive to earnings over the same period.

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Microsoft Corporation (NASDAQ:MSFT) lost a patent injunction to Google’s (NASDAQ:GOOG) Motorola Mobility in a German court, but the 9th U.S. Circuit Court of Appeals in San Francisco ruled on Friday that the unit cannot enforce a patent injunction in the United States, decreasing Google’s leverage in the smartphone patent battle, according to Reuters.

AT&T (NYSE:T) continues to supplement its prepaid offerings with additional GoPhone options. The carrier’s new $65 monthly plan is aimed specifically at users of smartphones, which combines unlimited talk and text with a 1G gigabyte allotment of data. Along with this new package, the firm is also launching the Fusion 2, which is a white-labeled Android product that’s set to sell at $99, with no contract necessary. Both will debut on October 7th.

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