Hopes For Passage Of Tax Cut Extensions Lift Markets To Higher Open
Optimism that the Senate will pass the tax cut extensions lifted the markets to a higher open with the Dow rising 27 points to 11,437. Nasdaq added 3 points to 2641.
On the upside
An outpatient diagnostic services provider that uses FONAR's (NYSE: FONR) UPRIGHT Multi-Position MRI scanner and several Stand-Up MRI diagnostic imaging professional corporations won an antitrust lawsuit against radiology benefits management company CareCore National.
Thermo Fisher Scientific (NYSE: TMO) will pay approximately $2.1 billion to acquire analytic instrumentation systems maker Dionex (Nasdaq: DNEX).
Shares of FuelCell Energy (Nasdaq: FCEL) rose ahead of its earnings release after market close.
On the downside
Huntington Bancshares (Nasdaq: HBAN) announced a public offering of $920 million in common shares and will offer $300 million in subordinated debt.
Dell (Nasdaq: DELL) will pay approximately $960 million to acquire Compellent Technologies (NYSE: CML). The price tag values Compellent at a discounted $27.75 from Friday's closing.of $28.71.
Financial reporter Herb Greenberg raised concerns about Youku's (NYSE: YOKU) high valuation amidst significant losses.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 779.
