Wall Street rebounds on deal activity

(REUTERS) - Billion dollar deals got investors back into stocks after last week's pullback. Energy shares led the way, fueled by rising oil prices.

Apple unveiled its much anticipated Apple Watch, the first big product launch in five years, and with CEO Tim Cook. It will hit stores on April 24th with a high end version starting at $10,000, though an entry level model can be had for about $350.

Forrester Research's James McQuivey: "In terms of the features that Apple watch is offering, some of the same things that other watches have already done quite well, in some cases for more than a year so, differentiation in specific features not super strong. That said, remember this is Apple. By definition for an Apple customer, that is differentiation enough. So, we have other watches that haven't sold even a million units yet. Apple is going to blow past them in this year alone.

Shares of RTI International Metals blasted higher. Alcoa is acquiring the titanium titan for $1.5 billion to expand its aerospace business. And mall owner Simon Property is shelling out more than $22 billion to buy real estate investment trust Macerich.

General Motors plans to buy back shares worth $5 billion, avoiding a proxy fight with an activist investor. It'll also boost its quarterly dividend.

BlackBerry got downgraded by Goldman Sachs to sell from neutral. Goldman predicts the struggling smartphone maker will fall short of expectations as it shifts from cutting costs to driving revenue.

Cutting jobs in China: Tesla Motors. Sources say the electric car maker had earlier missed its aggressive sales target for China.

European stocks mostly lower- pulling back from the gains made in the sharp run-up to the European Central Bank's bond buying program, which authorities launched today.

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