NEW YORK (CNNMoney)
The Dow Jones industrial average, the S&P 500 and the Nasdaq were all up about 0.5% in early trading, although the Nasdaq has since fallen back.
Takeover talk is swirling through the markets Monday as Pfizer said it has been looking at a $100 billion bid for AstraZeneca, and General Electric is reportedly attempting to buy Alstom's power turbines business.
The British pound pushed up against the U.S. dollar, trading at its highest level since late 2008, in response to the possibility of a Pfizer (PFE, Fortune 500) takeover of AstraZeneca (AZN), noted Kit Juckes at Societe Generale.
Shares in AstraZeneca surged, while Pfizer shares were edging higher.
Related: Pfizer eyes AstraZeneca for $100 billion acquisition
Both General Electric (GE, Fortune 500) and Germany's Siemens (SIEME) are reportedly looking to buy the power divisions of France's Alstom (ALSMY), though French government officials are said to be concerned about a U.S. takeover.
Trading in Alstom shares has been suspended. The company promised to make a statement by Wednesday at the latest. General Electric has made no comment.
Siemens said it has proposed to discuss strategic options with Alstom, but declined further comment.
In other international news, the White House unveiled new sanctions against Russian officials and businesses in response to the escalating crisis in Ukraine. The sanctions target seven Russian officials and 17 entities, including banks and companies tied to Russia's energy industry.
Related: Fear & Greed Index still in fear zone
In a major challenge to Kiev's new leaders, armed rebels aligned with Moscow have captured towns and government buildings across eastern Ukraine and are holding a team of European monitors hostage.
The Russian ruble, which has plunged versus the U.S. dollar recently, regained some ground as the sanctions appeared to be less severe than some had expected.
Meanwhile, shares of Bank of America (BAC, Fortune 500) fell after the Federal Reserve required the bank to resubmit its 2014 capital plan because BofA incorrectly reported data used to calculate its capital levels. BofA said it was suspending plans to hike its dividend and increase its share repurchase program.
Related: Bank of America's big math error
Other early stock movers include Netflix (NFLX), which is down over 3% today after losses last week when the company announced strong earnings but said its costs are rising. Microsoft (MSFT, Fortune 500), on the other hand, is up 1.5% this morning, another nice pop after its earnings last week and finalization of its deal with Nokia.
Corporate earnings continue to roll in from some major companies. Herbalife (HLF) is one of several companies set to report quarterly results after closing bell.
Related: CNNMoney's Tech30
European markets were higher in afternoon trading. Most major Asian markets declined Monday.
First Published: April 28, 2014: 9:55 AM ET
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