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Stocks Flat in Directionless Trading
Wall Street traded mostly flat Tuesday as the latest round of takeover activity offered some support to stocks but wasn't enough of a catalyst to push the market higher.
Investors didn't get the direction they wanted despite further takeovers that signal corpompanies' optimism about the economy. The latest pitch came late Monday from billionaire investor Kirk Kerkorian, who plans to start talks to buy two Las Vegas properties from casino operator MGM Mirage Inc.
In addition to mergers and acquisitions, Wall Street was also analyzing its final batch of first-quarter results. Office supply chain Staples Inc. said profit rose 12 percent, but sales came in lighter than expected. Read more
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