Stock Market Update

[BRIEFING.COM] The major averages now sit near session highs as the DJIA (flat) briefly joined its peers in positive territory. 

After a mixed start to the session, eight S&P 500 sectors now hold gains, with only the energy (-1.6%), utilities (-0.3%), and consumer staples (-0.2%) sectors lagging. 

Decliners outpace advancers by a slim 13-to-12 margin on the NYSE, while advancers hold an 11-to-9 edge on the Nasdaq.

Corporate headlines have been relatively quiet since the open, with the buyout of Electronic Arts (EA 202.69, +9.34, +4.83%) the most notable development so far.

Electronic Arts agreed to be taken private in a landmark transaction that values the company at roughly $55 billion, with shareholders set to receive $210 per share in cash (a 25% premium to EA's unaffected $168.32 close on Sept. 25). The announcement follows a Wall Street Journal report late last week that EA was nearing a roughly $50 billion deal, which had already sent the stock higher ahead of the definitive announcement.