LinkedIn accepts Microsoft's networking request

Microsoft is buying LinkedIn for more than $26 billion, a nearly 50% premium. But LinkedIn's stock is still well off its highs after warning about earnings growth. Still, investors seem to be betting on more social media mergers. Twitter and Yelp both rallied too.

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CNNMoney assistant managing editor Paul LaMonica highlights the latest news from Wall Street and what's moving the markets in his daily investing commentary.