Toward the end of trading Monday, the Dow traded up 0.85
percent to 15,889.77 while the NASDAQ surged 0.72 percent to
4,029.60. The S&P also rose, gaining 0.64 percent to
Top Headline Valeant Pharmaceuticals (NYSE:
agreed to acquire
Solta Medical (NASDAQ:
) for a transaction value of around $250 million.
Valeant will buy all of the outstanding common stock of Solta
Medical for $2.92 per share in cash, representing a 40% premium
to Solta's closing price on Friday. The transaction is likely to
close in the first quarter of 2014.
Equities Trading UP AerCap Holdings N.V. (NYSE:
) shot up 31.05 percent to $32.71 after American International
announced its plans to sell its aircraft-leasing business to
AerCap in a $5.4 billion deal.
Shares of Novavax (NASDAQ:
) were also up, gaining 16.02 percent to $4.49 after Wedbush
bumped its price target on the company from $4 to $12 this
Avago Technologies (NASDAQ:
) was also up, gaining 9.56 percent to $50.04 after the company
announced its plans
to buy LSI.
Equities Trading DOWN Shares of TTM Technologies (NASDAQ:
) were down 10.26 percent to $7.70 after the company announced
proposed offering of $150 million aggregate principal amount of
Convertible Senior Notes.
) was also down, falling 4.19 percent to $56.45 after a pair of
downgrades, one from SunTrust and one from Wells Fargo. T-Mobile
) was down, falling 4.29 percent to $26.45.
) is preparing a bid for T-Mobile US, according to a Wall Street
Commodities In commodity news,
oil traded up 0.88 percent
to $97.45, while gold traded up 0.44 percent to $1,240.00. Silver
traded up 1.64 percent Monday to $20.02, while copper rose 0.48
percent to $3.33.
Eurozone European shares
today. The Spanish Ibex Index gained 1.66 percent, while Italy's
FTSE MIB Index climbed 1.97 percent. Meanwhile, the German DAX
surged 1.69 percent and the French CAC 40 climbed 1.38 percent
while U.K. shares rose 1.15 percent.
Economics The Empire State manufacturing index rose to 0.98 in
December, versus a prior reading of -2.21. However, economists
were expecting a reading of 5.00. US nonfarm productivity rose by
3.0% in the third quarter, versus an initial reading of 1.9%.
However, economists were expecting revised productivity to
surge by 2.8%. The US flash manufacturing PMI declined to 54.4 in
December, versus a reading of 54.7 in November.
US industrial production rose 1.1% in November, versus
economists' expectations for a 0.6% gain.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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