Stocks Fall Despite M&A News

Stocks are trading sharply lower on Tuesday, despite more deal news. More negative economic news was released today, with Consumer Confidence falling in August and the Case-Shiller home price index showing home prices fell 3.2% in Q2. Traders attention now shifts to the release of the Federal Reserve minutes from the August 7 meeting.

Gateway (GTW | Quote | Chart | News | PowerRating) agreed to be acquired by Acer, with the Taiwan based company paying approximately $710 million (full story).

Also, U.S. Steel (X | Quote | Chart | News | PowerRating) agreed to acquire Stelco for about $1.1 billion (read more).

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