One mega deal is alive – another is dead. Drug maker AstraZeneca has rejected Pfizer’s final $116 billion buyout offer. Pfizer says it will not go hostel. AT&T is buying DirecTV for $48.5 billion or $95 a share. Only one-third of DirecTV’s 70 million subscribers are already AT&T customers. (Barron’s)
Mickey Mouse is asking a lot more to visit the California Magic Kingdom. A Disney Park Hopper pass is going up 9.5% to $150 and a one day/one park pass is going up 4.3% to $96 a day. (Buzz)
Tires prices are getting some downward price pressure as natural rubber supplies build on a four year surplus. Rubber prices have fallen 62% since the peak in 2011. Big global suppliers of rubber include Thailand, Vietnam and Indonesia. (Bloomberg)
New housing starts surged 13% in April. Leading the jump was a 43% increase in multi-family units. Single family starts were up 1% for the month. Home ownership stands at 64.8% and is below the 50-year average of 65.4%. (CNBC)
Along with their diploma the average college graduate in the class of 2014 will get a bill for $33,000 in student loans. That makes this year’s class the most indebted ever. Over 70% of all graduates will have some student loan debt upon graduation, which is close to double what we saw just 20 years ago. (Wall Street Journal)