Following the market opening Monday, the Dow traded up 0.34 percent to 16,275.47 while the NASDAQ surged 0.58 percent to 4,128.51. The S&P also rose, gaining 0.35 percent to 1,824.75. Top Headline Seagate Technology Plc STX announced its plans to buy Xyratex XRTX for around $374 million in cash.
Seagate will offer $13.25 per share to acquire Xyratex, representing a 27% premium to its closing price on Friday. Equities Trading UP United Therapeutics UTHR shot up 20.25 percent to $105.63 as the company announced the FDA approval of Orenitram Extended-Release Tablets for the treatment of pulmonary arterial hypertension. JP Morgan upgraded the stock from Underweight to Neutral and raised the target price from $62 to $90.
Shares of Eagle Rock Energy Partners LP EROC got a boost, shooting up 5.89 percent to $5.57 after Regency Energy announced its plans to acquire Eagle Rock Energy's midstream business for $1.3 billion.
Meritor MTOR was also up, gaining 16.42 percent to $9.50. Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating on Meritor. Equities Trading DOWN Shares of Tesaro TSRO were down 20.50 percent to $29.97. Tesaro's Rolapitant achieved primary endpoint in each of two Phase 3 trials for the prevention of CINV.
Marketo MKTO shares tumbled 2.81 percent to $35.59 after the company filed for a 427.8 million share offering by selling stockholders.
Micron Technology MU was down, falling 3.79 percent to $21.33 after analysts at Bank of America downgraded the stock from Neutral to Underperform and lowered the target price from $20.50 to $19.50.
CommoditiesSilver traded down 0.02 percent Monday to $19.45, while copper fell 0.12 percent to $3.30.
EurozoneEconomics U.S. consumer spending climbed 0.5% in November, while personal income surged 0.2% in the month. However, economists were estimating a 0.5% rise in spending and a 0.4% rise in personal income.
The final reading of the Reuter's/University of Michigan's consumer sentiment index came in at 82.50 in December, versus a prior reading of 82.50. However, economists were expecting a reading of 83.00.
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