Stocks Sink Ahead of Tax Bill Vote




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Summary: U.S. equities were lower as investors await a vote by Congress on the tax reform bill. The three benchmark U.S. indexes were in the red during midday trading. Shares of Kindred Healthcare Inc. slipped after reaching an agreement to be acquired for $9 a share by Humana Inc. and two private-equity firms, TPG Capital and Welsh, Carson, Anderson & Stowe. The total value of the deal is about $4.1 billion in cash, including debt. Meanwhile, United Parcel Service Inc. stock rose slightly after announcing a reservation for 125 of Tesla Inc.'s new fully-electric Semi tractors. The new tractors will join UPS's extensive alternative fuel and advanced technology vehicle fleet, comprised of trucks and tractors propelled by electricity, natural gas, propane and other non-traditional fuels. Watch More with TheStreet: These Stock Sectors Will Benefit the Most From Tax Reform Activision Blizzard Is a Revolution, Says Jim Cramer Make Your Kid a Millionaire, The Perfect Holiday Gift Jim Cramer Maintains That Apple Is to Be Owned, Not Traded