Sep 11, 2014 5:25 PM
Stocks end mixed...Oil rises... Alliance data buys e-commerce company
The Associated Press
NEW YORK (AP) A sluggish September is continuing for stocks as investors assess the outlook for interest rates, the latest sanctions against Russia and volatile energy prices. Stocks ended the day mixed. The Dow Jones industrial average fell nearly 20 points to close at 17,049. The S&P 500 index rose nearly 2 points to 1,997. And the Nasdaq composite gained five points to 4,591.
NEW YORK (AP) The price of oil is turning around. Benchmark U.S. crude rose $1.16 to close at $92.83 a barrel on the New York Mercantile Exchange, after dropping close to $90 a barrel in early trading. In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, rose 4 cents to close at $98.08 on the ICE Futures exchange in London.
NEW YORK (AP) Alliance Data is buying online advertising and e-commerce company Conversant for about $2.3 billion to boost its digital marketing business. The deal is expected to close by the end of the year. Alliance Data, based in Dallas, will pay $35 for each share of Conversant Inc. Conversant, which is based in Westlake Village, California, was formerly known as ValueClick.
WASHINGTON (AP) Federal health experts say Novo Nordisk's diabetes drug Victoza should be approved for a new use in treating obesity. The panel of Food and Drug Administration advisers voted 14-1 that the injectable drug's benefits outweigh its risks for patients who are obese or dangerously overweight.
ALBUQUERQUE, N.M. (AP) Virgin Galactic has again pushed back its timeline for launching space tourism flights from southern New Mexico's Spaceport America. Virgin owner and British billionaire Richard Branson told David Letterman this week that he hopes to board the first flight early next year. Previously Virgin wanted to get the first flight launched by the end of the year.