A gain in personal income lifted the markets to a higher open with the Dow rising 31 points 12,434. Nasdaq gained 8 points to 2791.
On the upside
Advanced Analogic Technologies (Nasdaq: AATI) will be acquired by rival Skyworks Solutions (Nasdaq: SWKS) in a cash and stock deal valued at approximately $262.5 million.
First quarter earnings slipped for Marvell Technology Group (Nasdaq: MRVL) but the chipmaker forecast current quarter results ahead of estimates.
LDK Solar (NYSE: LDK) will supply 45 megawatts of solar modules to a leading Italy-based solar systems integrator.
On the downside
Blue Cross Blue Shield will switch its specialty pharmacy benefit contract from MedcoHealth Solutions (NYSE: MHS) to CVS (NYSE: CVS) in 2012.
Boardwalk Pipeline Partners (NYSE: BWP) priced its public offering of 6 million common units at $29.33 per unit.
Fourth quarter earnings leaped for OmniVision (Nasdaq: OVTI) as revenue surged but the company's current quarter outlook disappointed investors.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 834.
