MARKET PULSE-Signet, Meadowbrook Insurance, Ocean Rig, SM Energy

Wed Feb 19, 2014 10:48am EST
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks were mixed on Wednesday amid caution ahead of the release of minutes from the Federal Reserve's most recent policy meeting, and as investors brushed off weak housing data. The Dow Jones industrial average was up 0.51 percent at 16,213.12, the S&P 500 was up 0.26 percent at 1,845.57 and the Nasdaq Composite was down 0.04 percent at 4,271.214.

** SIGNET JEWELERS LTD, $92.49, +16.68 pct

** ZALE CORP, $20.9, +40.17 pct

Kay Jewelers parent Signet Jewelers agreed to buy smaller rival Zale Corp for about $690 million, cementing its position as the largest North American jewelry chain.

The offer of $21 per share represents a premium of about 41 percent to Zale's close on the New York Stock Exchange on Tuesday. The stock traded as low as $3.76 in April.


The company's drug Northera, which treats a rare form of low blood pressure associated with neurological disorders such as Parkinson's disease, has won U.S. approval, the Food and Drug Administration said on Tuesday.   Continued...