Dow Jones News: Walgreens Buyout Optimism Fades; IBM Building Financial Services Cloud
After clinging to small gains Wednesday morning, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 0.13% at 12:45 p.m. EST. The news that an initial trade deal between the U.S. and China likely won't be signed until December may be responsible for the decline.
Pulling down the Dow was Walgreens Boots Alliance (NASDAQ: WBA). After surging on Tuesday on reports of a potential go-private deal, the stock faded on Wednesday as optimism seemed to wane. Meanwhile, shares of International Business Machines (NYSE: IBM) rose after the tech giant announced a new industry-specific public cloud platform.
Shares of Walgreens Boots Alliance soared on Tuesday after Reuters reported that the drugstore chain has been exploring going private via a deal with private equity firms. Any deal for Walgreens would likely be the largest leveraged buyout in history.
Source Fool.com
