Wall Street ended mixed with stocks given little reason to pull in any one direction until the Federal Reserve makes its announcement Wednesday. The central bank is expected to raise rates by 25 basis points. Intel (INTC) was the biggest drag on the Dow Jones Industrial Average after agreeing to buy Israeli tech company Mobileye (MBLY) for more than $15 billion. The deal, which is expected to close within the year, values Mobileye at a 34% premium. J.C. Penney (JCP) slumped even after S&P upgraded its credit rating. Analysts bumped its rating up to B+ on faith in the retailer's turnaround strategy in a challenging environment for department stores. ATM company NCR Corp. (NCR) stumbled after Blackstone Group announced plans to sell almost half its stake. The sale could pull in nearly $700 million for Blackstone.
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