Upbeat Economic Data Lifts Dow

Improving home construction pace along with a drop in jobless claims lifted the Dow to a higher close with the blue chip index gaining 64 points to 11,961. Nasdaq slipped 7 points to 2623.

On the upside

F.N.B. (NYSE: FNB) will acquire Parkvale Financial (Nasdaq: PVSA) in an all stock deal valued at approximately $130 million.

Actuant (NYSE: ATU) reported higher third quarter earnings prompting the company to lift its full year revenue guidance.

Multiband (Nasdaq: MBND) will pay approximately $22.2 million to acquire WPCS International (Nasdaq: WPCS).

On the downside

Yuhe International (Nasdaq: YUII) released incremental documentation related to the company's acquisition of 13 breeder farms in December 2009 after Seeking Alpha contributor The Geo Team alleged that the purchase was never completed.

Jefferies initiated coverage of Renren (NYSE: RENN) with a Hold rating.

Winnebago Industries (NYSE: WGO) disappointed with sharply lower third quarter earnings that fell far short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 781.
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