CenturyLink's (CTL) dividend is better protected now that it has agreed to acquire Level 3 Communications (LVLT) , according to TheStreet's Jim Cramer. CenturyLink, a telecommunications company, is acquiring Level 3 for $34 billion. Level 3 is a provider of internet infrastructure. According to CenturyLink, the combined company will be better positioned to further invest in broadband infrastructure for small businesses and consumers. The transaction increases the company's network by 200,000 route miles of fiber, according to a press release. CenturyLink also reported earnings on Monday, posting operating revenue of $4.4 billion.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.