Mergers And Acquisitions Lift Markets To Higher Open

Merger and acquistion activity lifted the markets to a higher open with the Dow climbing 46 points to 11,524. Nasdaq gained 12 points to 2661.

On the upside

The largest vitamin maker in the world DSM will pay approximately $1.1 billion in cash to acquire Martek Biosciences (Nasdaq: MATK).

Lock maker Assa Abloy will acquire identity card maker LaserCard (Nasdaq: LCRD) for approximately $80 million.

First quarter earnings for Jabil Circuit (NYSE: JBL) more than tripled to surpass analyst expectations as revenue soared and the company forecast current quarter results ahead of estimates.

On the downside

CarMax (NYSE: KMX) reported higher third quarter earnings that topped analyst estimates as revenue rose but gross profit per vehicle held steady.

Kandi Technologies (Nasdaq: KNDI) announced a registered direct offering of more than 3 million common shares.

Rockwood Holdings (NYSE: ROC) priced its public offering of 8 million common shares at the discounted price of $38.30.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 785.

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