ISDEX trades in a wide range today before closing slightly up against a weaker industrial stock movement. NASDAQ also gains some ground as investors debate in favor of selective tech and Internet shares. Today’s snapshot:
Barnes & Noble (NYSE:BKS) decides to drop its $600 million acquisition plan for book wholesaler Ingram, citing anti-trust hassles it expected to slow down the deal approval. The book chain also figures it’ll take a page from Amazon.com’s book and simply build its own distribution warehouses.
Yahoo (NASDAQ:YHOO) agrees to acquire Online Anywhere for $80 million stock. The company makes software that allows pagers, PDAs and portable phones to receive Internet content.
Xoom.com (NASDAQ:XMCM) agrees to acquire MightyMail for $25 million stock. MightyMail email helps companies create branded email products.
Sportsline (NASDAQ:SPLN) takes an undisclosed position in SportsSound, a Web-based record company. The two plan on creating music products centered on sports themes. Sounds a little funky to me.