An unexpected gain in first time applications for unemployment benefits tempered fears that the Federal Reserve would wind down its policy of bond buying to support the fragile economy. The markets opened higher with the Dow rising 49 points to 15,352 while Nasdaq climbed 20 points to 3487.
On the upside
Berkshire Hathaway subsidiary MidAmerican Energy Holdings will pay a premium of approximately $5.6 billion to acquire NV Energy (NYSE: NVE).
Dish Network (Nasdaq: DISH) engaged in a bidding war for Clearwire (Nasdaq: CLWR) by topping Sprint Nextel’s (NYSE: S) $3.40 per share offer with a $4.40 per share bid.
Celsion (Nasdaq: CLSN) will present clinical trial results from a ThermoDox HEAT Study at the 4th European Conference on Interventional Oncology.
On the downside
Boardwalk Pipeline Partners (NYSE: BWP) priced its public offering of 11 million common units at the discounted price of $30.12 per unit.
Morgan Stanley downgraded Halliburton (NYSE: HAL) from an Equal Weight rating to an Underweight rating.
Vanguard Natural Resources (Nasdaq: VNR) priced its public offering of 7 million common units at the discounted price of $28.35 per common unit.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index gained 7 points to 1655.
