A gain in homebuilder sentiment lifted the markets to a higher open with the Dow rising 44 points to 11,911. Nasdaq gained 11 points to 2566.
On the upside
Grocery store chain Bi-Lo will pay approximately $560 million to acquire rival Winn-Dixie Stores (Nasdaq: WINN).
Reports that China may increase restrictions on rare earth metal exports lifted shares of Molycorp (NYSE: MCP).
Zalicus (Nasdaq: ZLCS) initiated a Phase 1 clinical trial of its Z944 oral T-type calcium channel blocker to treat acute and inflammatory pain.
On the downside
Eldorado Gold (Nasdaq: EGO) will acquire European Goldfields in a cash and stock deal valued at approximately $2.4 billion.
KeyBanc Capital Markets analyst Scott Hamann cut his price target on Jakks Pacific (Nasdaq: JAKK) after the toymaker slashed its full year earnings guidance on Friday.
Capstone Turbine (Nasdaq: CPST) received orders for 4.2 megawatts but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 726.
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