The markets opened mixed with the Dow adding 10 points to 11,569 while Nasdaq slipped 7 points to 2664 as consumer sentiment rose less than expected in December.
On the upside
Rovi will acquire Sonic Solutions (Nasdaq: SNIC) in a cash and stock deal valued at approximately $720 million.
Advantest (NYSE: ATE) increased its offer to acquire Verigy (Nasdaq: VRGY) to $15 per share from $12.15 per share.
Investment firm Leonard Green & Partners will take Jo-Ann Stores (NYSE: JAS) private in a deal valued at approximately $1.6 billion.
On the downside
The Irish government will gain control of Allied Irish Banks (NYSE: AIB) with a capital infusion of $4.9 billion.
New home sales rose less than expected in November to weigh down shares of homebuilders Hovnanian Enterprises (NYSE: HOV), Lennar (NYSE: LEN) and Standard Pacific (NYSE: SPF).
Crocs (Nasdaq: CROX) chief financial officer Russell Hammer announced his resignation.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 790.
