Stocks climbed, though worries over how soon the Federal Reserve might hike interest rates kept markets wary. A few Fed speeches scheduled for this afternoon should give Wall Street further direction. Canadian fertilizer companies Agrium (AGU) and Potash (POT) agreed to an all-share merger. The deal creates an organization with annual revenue of more than $20 billion. American Airlines (AAL) fell after reporting a decline in traffic in August. Higher Pacific traffic failed to offset declines in domestic, Atlantic and Latin American traffic. The airline also expects a drop in third-quarter revenue per available seat mile. Perrigo (PRGO) rose after Starboard Value disclosed a 4.6% stake, worth nearly $600 million. The activist investor said its stock is currently trading at a "significant discount."
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