The stock market has made a gradual advance to reach its best level of
the session. The tech-rich Nasdaq, now up 0.9%, is outperforming the
S&P 500 and the Dow Jones.
Microsoft (MSFT 30.34, +0.41) is providing tech with the most leadership. The tech sector is up 1.2%.
Media company CBS Corp. (CBS 24.12, -0.70) announced it is acquiring
Internet news company CNET News (CNET 11.41, +3.46) for $1.8 billion,
or $11.50 per share. Shares of CBS are trading lower, but CNET is
trading higher to reflect the rich bid.