Investor Sentiment Lifted By M&A News

On the upside 

Barclays Capital upgraded Advanced Micro Devices (NYSE: AMD) after its chip foundry partner ATIC offered $1.8 billion to acquire Chartered Semiconductor.

Stifel Nicolaus upgraded Diamondrock Hospitality (NYSE: DRH).

Best Solar selected LDK Solar (NYSE: LDK) to provide the company with solar wafers.

On the downside

UCBH Holdings (Nasdaq: UCBH) reached an agreement with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions and announced the resignation of president and chief executive Thomas S. Wu and chief operating officer Ebrahim Shabudin.

The Centers for Disease Control's latest guideline for flu treatment did not list Biocryst Pharmaceuticals' (Nasdaq: BCRX) antiviral flu medicine peramivir.

Sprint (NYSE: S) announced a $100 credit to new customers who buy the Palm Pre and sign up for a two year plan.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 576.