– National:
Wall Street extended its November rally with modest gains Monday despite pressure from rising oil prices and a major restructuring plan at General Motors Corp.
The Dow Jones Industrial Average rose 53.95, or 0.5 percent, to 10,820.28, the index’s highest close since March 10. The S & P; 500 added 6.58, or 0.5 percent, to 1,254.85. The Nasdaq gained 14.60, or 0.7 percent, to 2,241.67.
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– Local:
Shares of Computer Sciences Corp. fell 11.8 percent to $48.38 following reports that potential buyers, including Lockheed Martin Corp., had ended talks to buy the El Segundo-based computer services company. CSC’s stock rating was also downgraded twice: to “hold” from “buy” by Legg Mason Wood Walker Inc. and to “market perform” from “outperform” by Wachovia Securities.
Saehan Bancorp gained 13.6 percent to $28 after the L.A.-based holding company for the Saehan Bank announced a two-for-one split of the company’s common stock and an increase in the number of common shares authorized from 10 million to 20 million.
Mattel Inc. rose 2.9 percent to $15.61 after the El Segundo-based toymaker said late Friday that it would increase its share repurchase program by $250 million and raise its annual dividend 5 cents to 50 cents a share. The dividend is payable Dec. 16 to shareholders of record on Dec. 2.
Maguire Properties Inc. edged up 2.4 percent to $30.14 after the L.A.-based real estate investment trust’s stock rating was raised to “buy” from “hold” by Legg Mason Wood Walker Inc.
