U.S. stocks opened sharply higher Tuesday as investors come back to work after the Labor Day Holiday weekend. Chinese stocks closed higher on news of ‘circuit breakers’ being implemented to stem volatility as well as speculation that China may inject more stimulus into its economy. Media General (MEG) is buying Meredith (MDP) for about $2.4 billion in cash and stock, creating the third largest TV station owner in the country. Bristol-Myers Squibb (BMY) reports positive survival results from its lung cancer treatment trials. E-trade (EFTC) restructured its balance sheet to remove high cost funding. Verizon (VZ) is hoping millennials will buy its new free, ad supported mobile streaming service called ‘GO90’. The company will reveal more details later this week.
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