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The S&P 500 and the Dow were dragged down on Friday by energy and healthcare stocks, while a record-setting rally in Microsoft kept the Nasdaq in positive territory. Also denting sentiment was the persistent strength in the dollar, which affects the overseas income for companies.
(Reuters) - AT&T Inc is in advanced talks to acquire media conglomerate Time Warner Inc , and a deal could come as early as this weekend, the Wall Street Journal reported. The talks around the cash-and-stock deal have come together quickly, the Journal reported on Friday, citing people familiar with the matter. Time Warner's shares were up 8.2 percent at $89.77 in late morning trading.