Acquisition news lifts markets

Acquisition news lifted the markets to a higher open with the Dow gaining 27 points to 16,761. Nasdaq rose 8 points to 4,306.

On the upside

Priceline will pay a premium of approximately $2.6 billion to acquire OpenTable (Nasdaq: OPEN).

Sycamore Partners, which has acquired a 9.9% stake in Express (NYSE: EXPR), may make a bid for the retailer.

InterCloud Systems (Nasdaq: ICLD) has become a VMware partner.

On the downside

Finisar (Nasdaq: FNSR) reported sharply higher fourth quarter earnings but the results fell short of analyst expectations and the company forecast current quarter revenue below estimates.

Capstone Turbine (Nasdaq: CPST) widened losses for the fourth quarter.

GNC Holdings (NYSE: GNC) chief financial officer Michael M. Nuzzo resigned.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers edged out decliners by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1932. Bitcoin gained $22.95 or 3.82% to $601.20.

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