Markets Open Strong As Manufacturing Activity Impresses

On the upside

BioForm Medical (Nasdaq: BFRM) will be acquired by privately held Merz Pharma Group for approximately $253 million.

Robert W. Baird analyst Tristan Gerra upgraded Intel (Nasdaq: INTC) and raised his price target on the company saying that corporate spending on personal computers will improve in 2010.

Total SA will pay $800 million to acquire a 25% stake in Chesapeake Energy's (NYSE: CHK) Barnett Shale in northern Texas.

On the downside

Novartis offered approximately $39.3 billion to acquire the remaining shares of Alcon (NYSE: ACL) that it does not already own. The value of the offer to minority shareholders is approximately $153 per share, well below the close price on Thursday of $164.35.

J. P. Morgan downgraded MercadoLibre (Nasdaq: MELI).

Shares of United Air Lines parent UAL (Nasdaq: UAUA) fell as crude oil prices surged over $81.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 635.