Market Update

Shares of Waddell & Reed Financial Inc WDR gained about 3% after the company's board approved a 25% rise in the quarterly dividend on its Class A common stock. The company lifted dividend to $0.25 per share payable on February 1, 2012 to stockholders of record as of January 3, 2012. Shares of Tata Motors Ltd TTM gained about 1.4% after the company reported a 35% year-over-year rise in its global sales in November. Tata Motors' global sales surged to 108,028 vehicles in November. Tata Motors reported that UK-based Jaguar Land Rover unit reported a 27% y/y rise in its sales. It sold 29,183 vehicles in the period. Sales of Jaguar cars dropped 5% to 5,315 units. However, sales of Land Rover sport-utility vehicles climbed 38% to 23,868 units. Tata Motors sold 49,724 trucks and buses globally in the period. Shares of Aetna Inc AET rose about 2% after the company lifted its operating earnings outlook for the current year. Aetna now expects operating earnings of $5.15 per share. It also expects operating earnings of about $5.00 per share for next year. Shares of Novellus Systems Inc NVLS surged about 21% after Lam Research Corp LRCX agreed to buy Novellus Systems for $3.3 billion in stock. Under the trems of the deal, stockholders of NVLS will receive 1.125 shares of Lam Research common stock for each Novellus share held, representing a 28% premium over the stock's closing price on Wednesday. The deal is likely to close in the second quarter of 2012.