Strong dollar stifles returns. Others will be dismissed to reach a target of 4,000. But sales of communications products are weaker than expected.
Investors send the stock up.
Terms were not disclosed. The terms of the purchase were not disclosed, and both companies warned the deal could fall apart. Mortgage rates edged down this week, reflecting a decline in Treasury bond yields in recent weeks. Robert E. Gray, who started the company with his wife in 1962, will remain on the board and act as a consultant. Terms of the agreement weren't disclosed.