The markets opened sharply higher with the Dow soaring 122 points to 16,507 as investors snapped up bargains. Nasdaq climbed 34 points to 4,862.
On the upside
Atmel (Nasdaq: ATML) will be acquired by Dialog Semiconductor in a cash and stock deal valued at approximately $4.6 billion.
Shares of Yahoo (Nasdaq: YHOO) climbed after Alibaba's (NYSE: BABA) lockup period ended.
Shares of Plug Power (Nasdaq: PLUG) continued rising.
On the downside
Weatherford International (NYSE: WFT) will offer $1 billion in common stock and exchangeable subordinated notes.
Shares of Freeport-McMoRan (NYSE: FCX) extended its losses.
Rite Aid (NYSE: RAD) stock continued to slip.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 gained 11 points to 1,969. Bitcoin slipped $2 to $227.
Bargain hunters lift markets
September 21, 2015 at 10:44 AM EDT