An unexpected drop in the nation's unemployment rate to 7.2% lifted the markets to a higher open with the Dow soaring 95 points to 15,487. Nasdaq gained 21 points to 3941.
On the upside
Microsemi (Nasdaq: MSCC) will pay a premium of approximately $230 million to acquire Symmetricom (Nasdaq: SYMM).
Medivation (Nasdaq: MDVN) and Astellas Pharma reported positive results from a late stage clinical trial of its prostate cancer treatment enzalutamide.
Oxygen Biotherapeutics (Nasdaq: OXBT) will acquire the exclusive rights to develop Phyxius Pharma's Phase 3 Fast Track product levosimendan.
On the downside
Citigroup downgraded Zions Bancorp (Nasdaq: ZION) from a Buy rating to a Neutral rating.
EMC (NYSE: EMC) disappointed with flat third quarter earnings that fell short of analyst expectations.
Bernstein downgraded Advanced Micro Devices (NYSE: AMD) from a Market Perform rating to an Underperform rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 climbed 11 points to 1756.
