US shares little changed

US shares were mixed in early trade on Monday as a major telecommunications merger moved forward while a big pharmaceutical deal appeared to fizzle for good. About 25 minutes into trade, the Dow Jones Industrial Average shed 18.04 (0.11 per cent) to 16,473.27. The broad-based S&P 500 added 0.99 point (0.05 per cent) to 1,878.85, while the tech-rich Nasdaq Composite Index rose 8.09 (0.20 per cent) to 4,098.67. US telecommunications giant AT&T on Sunday announced a deal to acquire broadcast satellite service provider DirecTV for nearly $50 billion, the latest in a string of pay TV consolidation moves. AT&T shares lost 2.3 per cent, while DirecTV fell 2.2 per cent, according to AFP.