The Dow Adds 8 Points, Nasdaq Gains 4

June 4, 2007 5:38 PM EDT

The Dow added 8.21 points to close at 13,676.32, the Nasdaq gains 4.37 points to close at 2,618.29, and the S&P 500 added 2.84 points to close at 1,539.18. The week started off will lots of action again. Flextronics (Nasdaq: FLEX) agreed to acquire Solectron (NYSE: SLR) for approx. $3.6 billion, QIAGEN N.V. (Nasdaq: QGEN) agreed to acquire Digene Corp. (Nasdaq: DIGE) for $61.25 per share, 1-800 CONTACTS (Nasdaq: CTAC) was taken out by private equity firms Fenway Partners for $24.25 per share, and Laureate Education (Nasdaq: LAUR) accepted an increased offer from the investor group led by Douglas L. Becker. Also, News Corp's Chairman, Rupert Murdoch met with the Bancroft family, which controls Dow Jones & Co. Inc. (NYSE: DJ), Doral Financial (NYSE: DRL) jumped 44% after received an unsolicited letter from FBOP Corporation and Atlas Pipeline Holdings, L.P. (NYSE: AHD) gained 25% after announcing an agreement to acquire control of Anadarko Petroleum's (NYSE: APC) interest in Oklahoma and Texas gas gathering and processing systems for $1.85 billion.

Separately, Oil gained $1.13 a barrel to close at $66.21.

Volume was modest with 2.8 billion shares trading on the NYSE and 1.96 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 19:14 on the NYSE and 16:15 on the Nasdaq.

In individual stories, GenVec, Inc. (Nasdaq: GNVC) fell 29% after announcing that updated preliminary safety and efficacy data from the clinical development program of its lead product TNFerade was presented in a poster session on gastrointestinal cancers at the annual meeting of American Society for Clinical Oncology in Chicago, IL by Dr. Mitchell Posner, of the University of Chicago. The study of its TNFerade product showed no statistically significant tumor-response difference from standard care alone in pancreatic-cancer patients. Verticalnet, Inc. (Nasdaq: VERT) 57.6% HIGHER; Company announced completion of a private placement of $2.175 million in preferred stock financing, including $1.575 million in new capital and the conversion of $600,000 of debt financing previously announced on May 22, 2007. Kildare Capital, Inc. acted as exclusive placement agent for the Company. However, jumped up over 100% in the last hour of trading before settling at $0.52.

Investors will also be looking for economic data on ISM Non-Manufacturing Index (10AM EST)

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