Merger And Acquistion News Lifts Markets

Merger and acquisition news lifted the markets during the midday with the Dow rising 27 to 10,499 while Nasdaq gained 17 points to 2208.

On the upside

Luna Innovations (Nasdaq: LUNA) will pay Hansen Medical (Nasdaq: HNSN) in full for all valid claims as part of a lawsuit settlement.

Range Resources (NYSE: RRC) completed the third phase of its expansion plan at the Marcellus shale.

SandRidge Energy (NYSE: SD) will deploy Akorri's BalancePoint software to increase IT efficiency.

On the downside

The Government Accountability Office upheld a protest submitted by BAE Systems and Navistar International (NYSE: NAV) challenging the Pentagon's selection of Oshkosh (NYSE: OSK) to build 23,000 vehicles for the Army.

Citigroup (NYSE: C) will raise $20 billion through the sale of common shares and securities to repay the government.

Dynegy (NYSE: DYN) will buy back $830 million in senior unsecured notes.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 606.

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