The Dow Jones gained 174.11 points, or 1.5 percent, to close at 11,443.13. The NASDAQ Composite Index added 35.92 points, or 1.4 percent, to close at 2,543.82. The S&P 500 Index extended its run from last week to gain 21.60 points, or 1.8 percent, ending at 1,200.41. Among other major indices, the New York Stock Exchange Composite Index added 178.83 points, or 2.45 percent, to 7482.71, and the American Stock Exchange Composite Index climbed 43.13 points, or 1.91 percent, to 2305.41.
Bank of America Corporation (NYSE:BAC : 7.73, 0.52) lead gains on the NYSE today gaining 7.93 percent, or 57 cents. The company announced that it was selling its Canadian credit card portfolio valued at C$8.6 billion to Toronto-Dominion Bank. The banks also announced intentions to divest its card operations in Ireland and the U.K.
Motorola Mobility Holdings, Inc (NYSE:MMI : 38.15, 13.68) gained 55.78 percent in today's trading after it was announced that Google Inc. was acquiring it for a sum of $12.5 billion. Google agreed to pay $40 per share, a premium of 63.5 percent over last week's closing price.
Nokia Corporation (NYSE:NOK : 6.25, 0.89) and Research In Motion Limited (NASDAQ:RIMM) also climbed in today's trading after the markets reacted positively to the Google-Motorola acquisition. NOK gained 17.35 percent while RIMM gained 10.38 percent.
Sprint Nextel Corp. (NYSE:S : 3.46, 0.24) climbed 8.75 percent today. The company recently announced plans to launch a cloud computing services by the fourth quarter of this year. The WSJ also reported that Sprint was making additional investments in Clearwire, which it has a majority stake in.
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