The markets closed higher with the
Dow gaining 42 points to 12,479 despite falling consumer sentiment as investors embraced merger and acquisition activity. Nasdaq climbed 27 points to 2789.
On the upside
EXCO Resources (NYSE: XCO) ended its exploration of strategic alternatives and will remain a publicly traded company.
Allied Irish Banks (NYSE: AIB) passed the European Banking Authority stress test.
BHP Billiton's $12.1 billion acquisition of Petrohawk Energy (NYSE: HK) lifted shares of Chesapeake Energy (NYSE: CHK), Cabot Oil & Gas (NYSE: COG) and Forest Oil (NYSE: FST).
Greenhill & Co. (NYSE: GHL) management committee member Timothy M. George will be the latest in a string of managing directors to leave the investment firm.
Peregrine Pharmaceuticals (Nasdaq: PPHM) widened fourth quarter losses as revenue tumbled.
The National Bank of Greece (NYSE: NBG) failed the stress test administered by the European Banking Authority.