Merger And Acquistion News Lifts Markets

On the upside

Luna Innovations (Nasdaq: LUNA) will pay Hansen Medical (Nasdaq: HNSN) in full for all valid claims as part of a lawsuit settlement.

Range Resources (NYSE: RRC) completed the third phase of its expansion plan at the Marcellus shale.

SandRidge Energy (NYSE: SD) will deploy Akorri's BalancePoint software to increase IT efficiency.

On the downside

The Government Accountability Office upheld a protest submitted by BAE Systems and Navistar International (NYSE: NAV) challenging the Pentagon's selection of Oshkosh (NYSE: OSK) to build 23,000 vehicles for the Army.

Citigroup (NYSE: C) will raise $20 billion through the sale of common shares and securities to repay the government.

Dynegy (NYSE: DYN) will buy back $830 million in senior unsecured notes. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 606.