Stocks Cheer M&A as Microsoft Nabs Skype

(TheStreet) -- Stocks remained stronger Tuesday on Microsoft's MSFT $8.5-billion acquisition of Skype. The Dow Jones Industrial Average was up by 48 points, or 0.4%, at 12,733. The S&P 500 was higher by 6 points, or 0.5%, at 1353, and the Nasdaq was were ahead by 16 points, or 0.6%, at 2859. Microsoft agreed to buy Internet phone service Skype for $8.5 billion. The deal is Microsoft's biggest acquisition and shares were shedding 1.4% to $25.48. Shares of eBay EBAY, which still owns 30% of Skype, were rising 2.5% to $33.94. Continue reading the article.