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U.S. Stocks Open Slightly Higher as Kroger Makes an Offer to Buy Roundy's

U.S. markets opened slightly higher Wednesday following deal news from Anheuser Busch and SABMiller, while Macy's (M) shares plunge after cutting full-year sales. Kroger (KR) has made an offer to buy Roundy's (RNDY) for $800 million. Roundy's shares soared 63% on the news. The deal is expected to close by the end of the year. Macy's (M) is heading into the holiday season on a weak note. It cuts its guidance for the year and says it won't pursue a spinoff of its real-estate assets. Macy's executives say U.S. shoppers aren't spending as much and there's been a slowdown in international visitors to its stores. Meanwhile, J.C. Penney (JCP) stock soared after sales beat expectations and a lawsuit was settled. The settlement was related to a class action lawsuit that alleged false advertising. Anheuser Busch (BUD) and SABMiller have agreed on a merger price of $105 billion. Alibaba (BABA) says more than 27 million Chinese bought international products, which was a record.
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