A slight increase in consumer prices lifted the markets to a modestly higher open with the Dow rising 9 points to 11,033. Nasdaq gained 15 points to 2484.
On the upside
VeriFone (NYSE: PAY) will acquire Hypercom (NYSE: HYC) in an all-stock deal valued at approximately $485 million including the assumption of debt.
Allegheny Technologies (NYSE: ATI) will pay approximately $778 million in cash and stock to acquire Ladish (Nasdaq: LDSH).
Chico's FAS (NYSE: CHS) reported higher third quarter earnings that topped analyst estimates.
On the downside
Analysts downgraded Human Genome Sciences (Nasdaq: HGSI) over concerns that its lupus treatment Benlysta may be approved for only a restricted type of patient.
Third quarter earnings for Suntech Power Holdings (NYSE: STP) rose but the results fell short of analyst expectations.
Credit Suisse downgraded JA Solar (Nasdaq: JASO) to an Underperform rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 708.
