Stocks Hold on to Gains in Late Trading

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Stocks are holding on to their gains in late trading. All three major indexes are currently in green. Stocks have been pushed higher by an increase in M&A activity, strong corporate earnings, and some relief over the situation in Egypt.

In late trading, the Dow Jones is up 0.58% to 12,162.24, the S&P 500 is up 0.62% to 1,319.02, and the Nasdaq is up 0.59% to 2,785.76.

All sectors in the S&P 500 are currently in green. The gains in late trading are being led by Industrials, which are up more than 1%. Financials are also rallying in late trading. At last check, Financials were up 0.85%.

The gains in the Financials are being led by insurers, including CNA Financial Corporation (NYSE: CNA) and American International Group (NYSE: AIG). CNA Financial Corporation shares are rallying after the insurer announced strong fourth-quarter financial results. At last check, shares of CNA Financial were up 8.98% to $30.23. The stock touched a 52-week high of $30.71. Meanwhile, shares of AIG are also soaring in late trading. At last check, AIG shares were up 5.47% to $42.19.

Pride International Inc. (NYSE: PDE) shares are also soaring in late trading after the company announced that it entered into a definitive merger agreement with Ensco PLC (NYSE: ESV). At last check, Pride International shares were up 15.79% to $39.82. The stock touched a 52-week high of $40.71 in late trading. Meanwhile, shares of Ensco are currently 4.58% lower at $51.92.

Other major gainers in late trading include Beckman Coulter Inc. (NYSE: BEC), which is currently trading 9.77% higher at $82.51, Danaher Corporation (NYSE: DHR), which is currently trading 2.36% higher at $49.11, TransGlobe Energy Corporation (NASDAQ: TGA), which is currently trading 10.57% higher at $14.96, B Communications Ltd. (NASDAQ: BCOM), which is currently trading 10.15% higher at $33.65, Carlisle Companies Inc. (NYSE: CSL), which is currently trading 8.93% higher at $42.32, Chesapeake Energy Corporation (NYSE: CHK), which is currently trading 3.63% higher at $31.15, and Orexiegn Therapeutics Inc. (NASDAQ: OREX), which is currently trading 9.85% higher at $3.96.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.