Markets started the week with a bang thanks to help from Apple and OIl. The Nasdaq 100, supported by news from Apple shot up 57 (1.22%) closing near session highs. The Dow 30 was up 174 (1.00%), and the S&P 500 also participated with a 20 point (0.98%) gain.
Shares of Apple (NASDAQ: AAPL) soared 3.71% today and dominated media headlines as Warren Buffett seems to be interested in the tech giant. In a recent filing, it was revealed that Berkshire Hathaway (NYSE: BRK-A) paid over $1 billion to buy 9.8 million shares of Apple. Despite a position in IBM (NYSE: IBM), Buffett has been known to shy away from technology companies claiming that he "doesn't understand them and has no way of valuating them". It was also announced today that he is a welcome financier of a group that wants to bid on Yahoo (NASDAQ: YHOO).
In the biotech space, shares of Anacaor (NASDAQ: ANAC) blasted off 57.22% today after Pfizer (NYSE: PFE) announced it was planning to acquire the pharmaceutical company. Pfizer intends to pay $99.26 per share which would be a 55% premium over the previous close. Anacor's only product right now is a toenail fungus ointment. Pfizer claims that they are not interested in dipping their toe in that, rather it is keen on an eczema treatment that Anacor has before the Food and Drug Administration.
Shares of Home Depot (NYSE: HD) popped 1.66% today after a report that showed new home builders were optimistic about their short term future. Home Depot has been range bound over the past few weeks, though an earnings announcement tomorrow before the open is likely to change that.
Lastly, Globalstar (NASDAQ: GSAT) shot up 12.24% today as the company is expecting action from the FCC soon on its Terrestrial Low-Power Service or TLPS. The company claims that that TLPS could increase the reach and power of public WiFi systems but Microsoft (NASDAQ: MSFT) and others continue to be highly critical of the service.