Market Roundup

US tech stocks rose, with the Nasdaq Composite Index gaining about 0.28%. The gainers in the list included Apple Inc AAPL and Cisco Systems Inc CSCO. Shares of Broadcom Corp. BRCM declined about 2% after the company gave a mixed Q4 outlook. Shares of Cypress Bioscience CYPB surged about 12% after the company agreed to be bought Ramius V&O Acquisition LLC and affiliates of Royalty Pharma for $255 million or $6.50 per share in cash. Daniel H. Petree, Lead Independent Director of Cypress' Board of Directors said, “For more than two months, Cypress' Board of Directors undertook a comprehensive evaluation of the Company's strategic alternatives.” Petree added, “After thorough and extensive analysis with our financial advisors, Cypress' Board unanimously concluded that this transaction with Ramius and Royalty Pharma provides significant cash value to our stockholders and is in the best interests of our stockholders, customers and employees.” Shares of Gain Capital Holdings fell about 1% as the company debuted on the New York Stock Exchange (NYSE). The company offered to sell 9 million shares at a price of $9 per share in its IPO. US energy stocks fell, with the NYSE Arca Oil Index (XOI) dropping about 0.42% and the NYSE Arca Natural Gas Index (XNG) losing about 0.30%. However, the Philadelphia Oil Service Index (OSX) fell about 0.16%. Shares of Dynegy Inc. DYN gained about 2.9% after Carl Icahn offered to purchase the company for $5.50 per share. Read more from Benzinga's Markets.