CEO Changes, Merger News Lifts Stocks

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Investors cheered by management changes, a new round of merger deals and a drop in oil prices sent stocks higher Monday.


The selection of Walt Disney Co. President Robert Iger chief to succeed Michael Eisner as chief executive, and news of a possible CEO change at American International Group Inc., gave Wall Street hope. Acquisitions by Altria Group Inc. and IBM Corp. also boosted investors’ moods.


In early afternoon trading, the Dow Jones Industrial Average rose 4.80, or 0.04 percent, to 10,779.16. The Standard & Poor’s 500 Index was up 1.95, or 0.2 percent, at 1,202.03. The Nasdaq Composite Index climbed to 0.66, or 0.03 percent, to 2,042.26.


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