Dow Jones Surges Almost 400 Points Following Major Tech Deals

Verizon (NYSE: VZ) agreed to acquire Tracfone; Microsoft (NASDAQ: MSFT) and Walmart (NYSE: WMT) lost out to Oracle (NYSE: ORCL) in a deal for TikTok's U.S. operations; and NVIDIA (NASDAQ: NVDA) agreed to acquire ARM Holdings in a move that could threaten Intel (NASDAQ: INTC) in the data center. Wireless carrier Verizon announced on Monday that it had agreed to acquire pre-paid mobile provider Tracfone from Mexican telecommunications giant America Movil (NYSE: AMX).