U.S. Stocks Surge on AT&T and Time Warner Deal; TD Ameritrade to Buy Scottrade




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Summary: U.S. stocks rose on a busy merger Monday. Over the weekend, AT&T agreed to buy Time Warner for $85.4 billion. Time Warner owns media assets such as HBO, CNN and TBS. The deal is reminiscent of Comcast's 2011 acquisition of NBCUniversal. Analysts say the deal shows just how powerful content players are. TD Ameritrade is set to purchase Scottrade, the online brokerage firm, for $4 billion in cash and stock. TD Ameritrade expects $450 million in annual cost savings after the merger. Apparel company V.F. Corp. , the maker of Timberland and North Face products, posted third quarter earnings of $1.20 a share, eclipsing Wall Street's estimates of $1.15. Revenue fell 1% year over year to $3.5 billion, missing estimates of $3.63 billion. TheStreet's Scott Gamm reports from Wall Street.