The Dow Gains 92 Points, Nasdaq Adds 3
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The Dow gained 92.34 points today to close at 13,943.42, the Nasdaq added 2.98 points to close at 2,690.58 and the S&P 500 jumped 7.47 points to close at 1,541.57. Oil fell $0.90 to $74.89 per barrel.
Volume was modest with 3.19 billion shares trading on the NYSE and 2.12 billion on the Nasdaq. Decliners topped Advancers on the NYSE by a margin of 17:15 and 16:14 on the Nasdaq.
In individual stories, Opsware Inc. (Nasdaq: OPSW) closed 36.2% higher after HP (NYSE: HPQ) signed a definitive agreement to purchase Opsware through a cash tender offer for $14.25 per share, or an enterprise value (net of existing cash and debt) of approximately $1.6 billion on a fully diluted basis. Upon closing, the acquisition will enhance HP's portfolio of Business Technology Optimization (BTO) software. HP also acquired Neoware, Inc. (Nasdaq: NWRE) for $16.25 per share (approx. $214 million)
Netflix, Inc. (Nasdaq: NFLX) fell 12% after the Company announced it was dropping the price of two of its most popular subscription plans by $1. Jefferies & Co and Cantor Fitzgerald also downgraded the stock this morning.
Tomorrow, investors will be looking for earnings from Aaron Rents, Inc.(NYSE: RNT), AK Steel Holding Corp (NYSE: AKS), Bowater Incorporated (NYSE: BOW), Burlington Northern Santa Fe Corporation (NYSE: BNI), Canadian Pacific Railway (NYSE: CP), Centene Corporation (NYSE: CNC), Ceradyne (Nasdaq: CRDN), CEVA, Inc. (Nasdaq: CEVA), Check Point Software Technologies (Nasdaq: CHKP), Columbus McKinnon (Nasdaq: CMCO), Commerce Bancorp, Inc. (NYSE: CBH), Corn Products International (NYSE: CPO), DuPont (NYSE: DD), EMC Corporation (NYSE: EMC), ENSCO International (NYSE: ESV), Harte-Hanks (NYSE: HHS), Jones Lang LaSalle (NYSE: JLL), Legg Mason (NYSE: LM), Lexmark International (NYSE: LXK), McDonald's (NYSE: MCD), Neogen (Nasdaq: NEOG), Northrop Grumman (NYSE: NOC), Pentair (NYSE: PNR), PepsiCo (NYSE: PEP), Quest Diagnostics (NYSE: DGX), RADVISION (Nasdaq: RVSN), Rayonier Inc. (NYSE: RYN), Rohm and Haas (NYSE: ROH), Saia, Inc. (Nasdaq: SAIA), Smith International (NYSE: SII), Tellabs (Nasdaq: TLAB), The McGraw Hill Companies (NYSE: MHP), Unisys (NYSE: UIS), United Community Banks (Nasdaq: UCBI), Waddell & Reed Financial (NYSE: WDR), and Watsco, Incorporated (NYSE: WSO).
Volume was modest with 3.19 billion shares trading on the NYSE and 2.12 billion on the Nasdaq. Decliners topped Advancers on the NYSE by a margin of 17:15 and 16:14 on the Nasdaq.
In individual stories, Opsware Inc. (Nasdaq: OPSW) closed 36.2% higher after HP (NYSE: HPQ) signed a definitive agreement to purchase Opsware through a cash tender offer for $14.25 per share, or an enterprise value (net of existing cash and debt) of approximately $1.6 billion on a fully diluted basis. Upon closing, the acquisition will enhance HP's portfolio of Business Technology Optimization (BTO) software. HP also acquired Neoware, Inc. (Nasdaq: NWRE) for $16.25 per share (approx. $214 million)
Netflix, Inc. (Nasdaq: NFLX) fell 12% after the Company announced it was dropping the price of two of its most popular subscription plans by $1. Jefferies & Co and Cantor Fitzgerald also downgraded the stock this morning.
Tomorrow, investors will be looking for earnings from Aaron Rents, Inc.(NYSE: RNT), AK Steel Holding Corp (NYSE: AKS), Bowater Incorporated (NYSE: BOW), Burlington Northern Santa Fe Corporation (NYSE: BNI), Canadian Pacific Railway (NYSE: CP), Centene Corporation (NYSE: CNC), Ceradyne (Nasdaq: CRDN), CEVA, Inc. (Nasdaq: CEVA), Check Point Software Technologies (Nasdaq: CHKP), Columbus McKinnon (Nasdaq: CMCO), Commerce Bancorp, Inc. (NYSE: CBH), Corn Products International (NYSE: CPO), DuPont (NYSE: DD), EMC Corporation (NYSE: EMC), ENSCO International (NYSE: ESV), Harte-Hanks (NYSE: HHS), Jones Lang LaSalle (NYSE: JLL), Legg Mason (NYSE: LM), Lexmark International (NYSE: LXK), McDonald's (NYSE: MCD), Neogen (Nasdaq: NEOG), Northrop Grumman (NYSE: NOC), Pentair (NYSE: PNR), PepsiCo (NYSE: PEP), Quest Diagnostics (NYSE: DGX), RADVISION (Nasdaq: RVSN), Rayonier Inc. (NYSE: RYN), Rohm and Haas (NYSE: ROH), Saia, Inc. (Nasdaq: SAIA), Smith International (NYSE: SII), Tellabs (Nasdaq: TLAB), The McGraw Hill Companies (NYSE: MHP), Unisys (NYSE: UIS), United Community Banks (Nasdaq: UCBI), Waddell & Reed Financial (NYSE: WDR), and Watsco, Incorporated (NYSE: WSO).
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