Stocks Higher On Bin Laden, Deal News

Stocks in the U.S. and around the world are higher Monday following the killing of 9/11 terror mastermind Osama bin Laden in a U.S. operation in Pakistan.

Just after the open, the Dow is up 30 points, the Nasdaq is up 4 and the S&P 500 is up 3.

In addition, a number of takeover deals were announced this morning, helping to support the bullish action. Cephalon (Nasdaq: CEPH) was acquired by Teva Pharmaceutical (Nasdaq: TEVA) in a $6.8 billion deal and International Coal Group, Inc. (NYSE: ICO) was acquired by Arch Coal, Inc. (NYSE: ACI) in a $3.4 billion deal.

In a special appearance Sunday evening, President Barrack Obama announced the world's most wanted man had been killed. Bin Laden was found in a large compound in Abbottabad, about one hour north of the Pakistan capital of Islamabad. U.S. special operation forces, including an elite U.S. Navy Seals unit, stormed the compound and killed bin Laden. His body was buried at sea.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Midera Food Processing and Centrus Energy to join S&P SmallCap 600
• Coty's chief people officer to resign in August
• Burry says he is short Micron