MARKET PULSE- Facebook, Coronado Biosciences, Whirlpool, Sierra Wireless
U.S. stocks rose on Monday, rebounding from losses, as plans for President Barack Obama and Vice President Joe Biden to meet congressional leaders raised hopes a resolution to the fiscal impasse was closer.
The Dow Jones industrial average rose 0.14 percent, the S&P 500 gained 0.11 percent and the Nasdaq Composite added 0.29 percent.
** FACEBOOK INC, $48.98, up 0.7 pct (2:09 p.m. ET)
The social networking company will buy Israel's Onavo, which makes data compression software and smartphone applications, the Israeli firm said on its website, without giving any details of the deal. Facebook is paying between $150 million and $200 million, the Calcalist financial news website reported, making it the social media company's biggest acquisition in Israel.
** NETFLIX INC, $317.91, up 5.6 pct (1:39 p.m. ET)
The company is in talks with several U.S. cable television companies including Comcast Corp and Suddenlink Communications to make its streaming video service available through their set-top boxes, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Continued...