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(NEW YORK) — Despite the attacks in Paris being reflected in world financial markets, Wall Street started off strong this week.
The Dow Jones Industrial Average jumped 237.77 to close at 17483.01.
The Nasdaq gained 56.73, ending the day at 4984.62, while the S&P 500 finished at 2053.19, up 30.15 from its open.
Marriott International maintains its status as the world’s largest hotel chain after a $12.2 billion deal to buy out rival hotel chain Starwood. According to Marriot, after the acquisition the company will have 1.1 million rooms in more than 5,500 hotels spread over 100 countries. By gaining Starwood, Marriott will also have Westin, W, and St. Regis.
In other acquisition news, Urban Outfitters, Inc. has many investors scratching their heads after the retailer announced on Monday it bought a pizza chain. The apparel and home goods retailer purchased the Vetri Family group of restaurants which includes the award-winning Pizzeria Vetri. Chef Marc Vetri called the deal “a perfect match,” and said both he and Urban Outfitters CEO Richard Hayne prided themselves on providing “the best possible experience,” though many are wondering what sort of experience Urban Outfitters will start to provide.
Pandora Media Inc. announced it will acquire assets from the failing music streaming service Rdio for $75 million. Pandora will gain technology and intellectual property from the San Francisco-based Rdio, and according to a statement, Pandora hopes to offer listeners an “expanded” listening experience by the end of next year.
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