MARKET PULSE-Celladon, Triquint, Trex, Jos A Bank, Facebook, eBay
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks rose on Monday, advancing in a broad rally as merger activity boosted the S&P 500 to an all-time high. The Dow Jones industrial average was up 1.13 percent at 16,285.02, the S&P 500 was up 1.16 percent at 1,857.46 and the Nasdaq Composite was up 0.77 percent at 4296.08.
** CELLADON CORP, $12.16, +60.63 pct
The biotechnology company said it granted to French company Servier an exclusive option to develop its experimental small molecule program to treat diabetes and metabolic disorders, outside the United States. If Servier exercised its option, depending on the outcome of studies, Celladon would receive upfront and milestone payments, as well as royalties on sales. The drugs are being tested in preclinical studies.
At least three brokerages, including Barclays, Wedbush and Stifel started coverage on Celladon with high ratings.
** TRIQUINT SEMICONDUCTOR INC, $11.25, +21.89 pct
** RF MICRO DEVICES INC, $6.7501, +16.18 pct
Radio frequency chipmaker RF Micro Devices will buy peer TriQuint Semiconductor for about $1.6 billion in an all-stock deal to create a company that could better compete in selling chips to mobile-handset makers.