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March 24, 2008

Stocks jump on revised Bear Stearns deal (AP)

Filed under: Business — Admin @ 9:52 am

Traders Marshall Ryan, center, and Thomas Kay, right, wait for the Visa Inc. IPO to beging trading on New York Stock Exchange, Wednesday March 19, 2008. Visa Inc. shares soared more than 30 percent in their stock market debut Wednesday as investors latched on to the largest initial public offering in U.S. history.  (AP Photo/Richard Drew)AP - Wall Street extended its big advance Monday as investors applauded a new agreement that will give Bear Stearns Cos. shareholders five times the payout than was outlined in a JPMorgan Chase & Co. buyout deal a week ago. Investors were also pleased by a stronger-than-expected housing report. The Dow Jones industrial average jumped more than 230 points.

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