Market Wrap: Flame-Grilled Revenge; Apple Pays Up; Merger Monday!

Market wrap-up for March 19th

End of the Day: Dow Jones up 6.5 to 13,239.13; Nasdaq up 23.1 to 3,078.32; S&P 500 up 5.6 to 1,409.75

The following is a brief summary of events moving markets today:

• Funnily enough, there's probably still time to buy in and see notable upside: Apple (Nasdaq: AAPL) CEO Tim Cook announced plans for the company's $100 billion in cash Monday morning.
  
  Cook said Apple would start paying a quarterly dividend -- initially set at $2.65 per share -- and also approved a $10 billion common stock buyback plan. For more color, click here.
  
  After hours, Apple also announced it sold three million new iPad tablets over the weekend. By comparison, Apple sold 15.4 million iPads last quarter.
  
  
• Building confidence: The National Association of Home Builders/Wells Fargo Index came in at 28 for March, though the Street was expecting 31. Many hope the index moves closer to 50, a level it hasn't been at since April 2006.
  
  Separately, a gauge measuring builders confidence over the next six months rose from 34 to 36. Builders are gaining hope as buyers express more interest in buying a home. With a glut of inventory still in the market and rates as low as they've ever been, its no wonder why many are looking to pick up properties at rock-bottom prices.
  
  
• M&A Monday:
  • United Parcel Service (NYSE: UPS) to acquire TNT Express N.V. for €9.50 per ordinary share.
    
    
  • Williams Partners (NYSE: WPZ) agreed to acquire Caiman Energy’s wholly owned subsidiary, Caiman Eastern Midstream LLC, for approximately $2.5 billion.
    
    
  • Zayo Group, LLC to nab AboveNet, Inc. (NYSE: ABVT) for approximately $2.2 billion.
    
    
  • TaylorMade-adidas Golf to acquire all of the outstanding shares of Adams Golf for $10.80 per share in cash.
    
    
  • Amazon.com, Inc. (Nasdaq: AMZN) to acquire Kiva Systems for about $775 million.
• Pass the catsup: Wendy's (NYSE: WEN) is trading slightly higher Monday amid reports it may have jumped a spot higher on a nationally recognized restaurant survey. According to initial data from industry research firm Technomic, Wendy's moved into second-spot ahead of now-private Burger King as the second-largest U.S. hamburger chain.
  
  For more color, click here.

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