Stock Market Recap: No Chance in Iran... I Mean Hell

Stocks sagged, but the tech-heavy Nasdaq benefited from company specific news. Yahoo! (Nasdaq: YHOO) may find pressure to accept Microsoft's acquisition bid from none other than Carl Icahn. This is just what Microsoft (Nasdaq: MSFT) and yours truly expected when the software giant recognized Yahoo!'s stall tactics, and backed away from its offer. Another deal was in the news again today as well. Hewlett-Packard's (NYSE: HPQ) acquisition of EDS (NYSE: EDS) has been judged too rich by the market, and HPQ is off 10% in two days as it suffers the penalty.

Congress voted against the president, and against America's best interest in my book, by passing legislation to stop the president's filling of the strategic oil reserve until oil prices fall to a threshold level. This bill has no chance in Iran, I mean hell, of passing through the Oval Office, so why even bother...



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