Small Drop In Home Prices Lift Markets To Higher Open
On the upside
Microsemi will acquire White Electronic Designs (Nasdaq: WEDC) for approximately $163 million in cash.
Danaher (NYSE: DHR) lifted its outlook for the first quarter to top analyst estimates.
The Wall Street Journal reported that a version of Apple's (Nasdaq: AAPL) popular iPhone will be available on Verizon (NYSE: VZ) this summer.
On the downside
GenVec (Nasdaq: GNVC) ended a Phase 3 clinical trial of its pancreatic cancer treatment TNFerade saying that the drug was ineffective.
While LDK Solar (NYSE: LDK) narrowed losses for the fourth quarter, the results fell short of analyst expectations.
Stifel Nicolaus downgraded Maguire Properties (NYSE: MPG).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 686.
