AT&T's mega deal; Earnings galore; Stocks zoom higher

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1. Time for a takeover: AT&T (T, Tech30) and Time Warner (TWX) have agreed to an $ 85 billion takeover deal — one of the biggest media tie-ups of all time if it is approved by regulators.

AT&T will pay $ 107.50 a share to buy Time Warner, which would help it expand beyond wireless and Internet service into programming. Time Warner is the parent of CNN, TNT, HBO, the Warner Bros. studio, and other channels and websites.

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