Easing crude oil prices lifted the markets to a higher during the midday with the Dow climbing 87 points to 12,366. Nasdaq gained 20 points to 2777.
On the upside
Sterling Global Holdings offered to acquire American Airlines parent AMR (NYSE: AMR) for more than $3 billion.
Citigroup added BlackRock (NYSE: BLK) to its Top Picks Live list.
The U. S. Patent and Trademark Office issued a patent to Somaxon Pharmaceuticals (Nasdaq: SOMX) related to the food effects on the company's low-dose sleep medication Silenor.
On the downside
Shares of homebuilder Lennar (NYSE: LEN) continued falling despite posting a profit yesterday as investors focused on a drop in new home orders.
The Food and Drug Administration will not exercise enforcement against pharmacies that compound K-V Pharmaceuticals' (NYSE: KVA) pre-term birth drug Makena.
Iridium Communications (Nasdaq: IRDM) announced a secondary offering of more than 4 million common shares at $8.15 per share.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 837.
