The markets opened modestly higher with the Dow rising 14 points to 15,143 even as the government shutdown. Nasdaq gained 16 points to 3788.
On the upside
Lexicon Pharmaceuticals (Nasdaq: LXRX) reported positive results from a study of its LX4211 in treating type 2 diabetes patients with renal impairment.
Sumitomo will pay a premium of $12 per share in cash to acquire Edgen Group (NYSE: EDG).
Canaccord Genuity upgraded Cree (Nasdaq: CREE) from a Hold rating to a Buy rating.
On the downside
Profit taking sank shares of Zalicus (Nasdaq: ZLCS).
Financial Times reported that Newmont Mining (NYSE: NEM) would bid on Glencore Xstrata's Las Bambas copper mining project.
Investors locked in profits on Restoration Hardware (NYSE: RH).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 1686.
