Wall Street looking down
The Russell 2000 (NYSE: IWM) has dipped into negative territory but the Dow Jones Industrial Average (INDU) is up as stocks are trending lower after news of deal-making.
At 10:12 a.m. ET the Russell 2000 had lost 3.18 points, or 0.37%, to 852.59. The Dow Jones Industrial Average was up 22.27 points, or 0.16%, to 13,929.52.
In corporate news, Glendale, Calif.-based pancake restaurant operator IHOP Corp. (NYSE: IHP) will buy casual diner Applebee’s International, Inc. (Nasdaq: APPB) for about $2.1 billion in cash, which includes the assumption of debt. Applebee’s shareholders will get $25.50 a share.
IHOP plans on selling most of Overland Park, Kan.-based Applebee’s 521 company-owned restaurants to franchisees. Applebee’s has more than 1,900 system-wide restaurants, while IHOP has about 1,300. The acquisition is expected to close in the fourth quarter.
The following were the most actively traded companies in Monday’s trading among those with market capitalizations under $500 million:
| Price at | % | ||||||
| 10:08 et | Change | Change | Volume | Year High | Year Low |
