Rising Commodity Prices Lift Markets Sharply Higher
On the upside
Sykes Enterprises (Nasdaq: SYKE) will pay approximately $263 million in cash and stock to acquire ICT Group (Nasdaq: ICTG).
SurModics (Nasdaq: SRDX) licensed its biodegradable microparticles to Roche and Genentech in a deal valued at approximately $200 million.
Harbin Electric (Nasdaq: HRBN) will acquire Xi'an Simo Motor.
On the downside
Extreme Networks (Nasdaq: EXTR) forecast quarterly results below analyst expectations.
Harris & Harris Group (Nasdaq: ARRS) will raise approximately $18.6 million through a public offering.
American Reprographics (NYSE: ARP) slashed its 2009 earnings guidance due to sharply lower revenue.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 601.
