On the upside
Shares of U.S. generic drug maker APP Pharmaceuticals (Nasdaq: APPX) surged after the company received a $3.7 billion cash offer from Germany-based Fresenius SE.
NBC Universal (NYSE: GE), Blackstone Group (NYSE: BX) and Bain Capital LLC offered $3.5 billion in cash to buy The Weather Channel.
China National Offshore Oil Corp.'s oil-services company (NYSE: CEO) offered about $2.5 billion for Norway's Awilco Offshore ASA.
On the downsideBankrate (Nasdaq: RATE) lowered its 2nd quarter outlook and reduced its full-year estimates due to a slowdown in its display advertising business.
Catapult Communications (Nasdaq: CATT) lowered its revenue outlook due to slower spending among its telco customers.
An analyst downgraded Noven Pharmaceuticals (Nasdaq: NOVN) which develops transdermal drug delivery technologies.
In the broad market, advancing issues outpaced decliners by a margin
of 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The
Russell 2000 which tracks small cap stocks rose 4 points to 669.