Bargain hunters lift markets

The markets opened sharply higher with the Dow soaring 122 points to 16,507 as investors snapped up bargains. Nasdaq climbed 34 points to 4,862.

On the upside

Atmel (Nasdaq: ATML) will be acquired by Dialog Semiconductor in a cash and stock deal valued at approximately $4.6 billion.

Shares of Yahoo (Nasdaq: YHOO) climbed after Alibaba's (NYSE: BABA) lockup period ended.

Shares of Plug Power (Nasdaq: PLUG) continued rising.

On the downside

Weatherford International (NYSE: WFT) will offer $1 billion in common stock and exchangeable subordinated notes.

Shares of Freeport-McMoRan (NYSE: FCX) extended its losses.

Rite Aid (NYSE: RAD) stock continued to slip.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 gained 11 points to 1,969. Bitcoin slipped $2 to $227.
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