Market Roundup (PPL, GS, FNM, DUK, FRE, MCD, WMT)
PPL (NYSE: PPL) has agreed to buy the US assets belonging to E.On (OTC: EONGY.PK) in a deal worth $7 billion, according to David Faber. This comes as a surprise to those who thought that Duke Energy (NYSE: DUK) was prevailing in the three-company competition.
According to the Wall Street Journal, lawmakers seem to have lost sight of the real villains who triggered the financial crisis as was reflected by their outrage during the Goldman (NYSE: GS) hearing yesterday. WSJ argued that the real problem was the issuance of "too many bad mortgage loans with poor underwriting." This means that lawmakers should be looking at Fannie (NYSE: FNM) and Freddie (NYSE: FRE) instead.
McDonald’s (NYSE: MCD) Happy Meal has taken a hit as officials in Santa Clara County, California voted to ban toy giveaways that accompany Happy Meals and other kid-oriented fare. The only time when these giveaways will be allowed would be when the food meets certain nutritional requirements. According to the officials, the combination of unhealthy foods and toys is a contributing factor to the high rate of childhood obesity.
Big-box giant Wal-Mart (NYSE: WMT) has started thinking small to win back its customers from no-frills grocery chains. WMT is considering the merits of opening small outposts in urban areas.
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