Surge In Pending Home Sales Lift Markets To Higher Open
On the upside
The Food and Drug Administration granted Keryx Biopharmaceuticals' (Nasdaq: KERX) refractory advanced colorectal cancer treatment KRX-0401 Fast Track status.
J. P. Morgan upgraded Melco Crown Entertainment (Nasdaq: MPEL).
SandRidge Energy will pay approximately $1.6 billion in cash and stock to acquire Arena Resources (NYSE: ARD).
On the downside
Analysts downgraded Tesoro (NYSE: TSO) after a refinery fire on Friday killed five workers.
Anchor BanCorp Wisconsin (Nasdaq: ABCW) announced on Friday that it engaged the services of Sandler O'Neill to explore strategic options.
Goldman Sachs downgraded Monster Worldwide (NYSE: MWW) to a Sell rating.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 690.
