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The Dow Gained 23 Points, Nasdaq Adds 7

From Street Insider The Dow gained 23.24 points to close at 13264.62, the Nasdaq added 6.69 points to close at 2,572.15, and the S&P 500 added 3.23 points to close at 1,505.62. Oil fell $1.26 to close at $61.93. Volume…

By Douglas A. McIntyre
Published May 5, 2007, 9:08am ET · 1 min read

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From Street Insider

The Dow gained 23.24 points to close at 13264.62, the Nasdaq added 6.69 points to close at 2,572.15, and the S&P 500 added 3.23 points to close at 1,505.62. Oil fell $1.26 to close at $61.93.

Volume was modest with 2.83 billion shares trading on the NYSE and 2.31 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 19:13 on the NYSE and 17:13 on the Nasdaq.

In individual stories…

Reuters Group PLC (Nasdaq: RTRSY) gained 26.8% after confirming it has received a preliminary approach from a third party which may or may not lead to an offer being made for Reuters. Dow Jones reports Thomson (NYSE: TOC) has approached Reuters with a proposal which may lead to an offer. The FT recently reported that Reuters is ready to review/endorse an offer from Thomson.

Also, Yahoo! (Nasdaq: YHOO) opened up over 15% after takeover rumors circulated that Microsoft (Nasdaq: MSFT) would acquire the internet portal. However, YHOO shares close up 9.9% when afternoon reports indicated MSFT was only looking for a partnership agreement not acquisition.

Today’s biggest loser was 21st Century Holding Co. (Nasdaq: TCHC) which fell 44.7% after the company reported Q1 EPS of $0.11, but said, "However, after considering significant factors that are expected to impact our earnings for calendar year 2007, annual Company guidance is hereby amended from $4.50 per share to $2.00 to $2.50 per share."

http://www.streetinsider.com/Special+Reports

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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