G20 Pledge Boosts Markets

Pledges by the G20 for new policies that would increase the world economy by $2 trillion over five years boosted the markets to a sharply higher open with the Dow soaring 129 points to 16,233. Nasdaq climbed 32 points to 4295.

On the upside

RF Micro Devices (Nasdaq: RFMD) will pay approximately $1.6 billion in stock to acquire TriQuint Semiconductor (Nasdaq: TQNT).

Men's Wearhouse (NYSE: MW) increased its acquisition offer for Jos. A Bank (Nasdaq: JOSB) from $57.50 per shares to $63.50 per share.

GT Advanced Technologies (Nasdaq: GTAT) narrowed fourth quarter losses more than expected.

On the downside

Profit taking weighed down shares of MicroVision (Nasdaq: MVIS).

Barron's wrote that Kinder Morgan Energy Partners (NYSE: KMP) was overvalued.

Bank of America-Merrill Lynch downgraded 3D Systems (NYSE: DDD) from a Buy rating to an Underperform rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 climbed 13 points to 1849. Bitcoin plunged $116.94 or 58.47% to $200.00.

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