BUZZ-U.S. Stocks on the Move-Wearable camera makers, Viggle, automakers

Tue Dec 2, 2014 11:19am EST
 
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U.S. stocks rose modestly on Tuesday as a pair of big M&A deals boosted market optimism and helped the market rebound from the broad decline in the previous session, which was the S&P 500's weakest day in a month. The Dow Jones industrial average was up 0.37 percent at 17,843.2, the S&P 500 was up 0.48 percent at 2,063.38 and the Nasdaq Composite was up 0.46 percent at 4,748.99.

** AVANIR PHARMACEUTICALS INC, $16.935, +12.90 pct

Japanese drugmaker Otsuka Holdings Co Ltd plans to buy U.S.-based Avanir for about $3.5 billion to expand its neurologic drug portfolio ahead of an expiration of a key drug patent.

Otsuka said subsidiary Otsuka Pharmaceutical Co Ltd would pay $17 per share in cash, or a premium of 13.3 percent to Avanir's closing price on Monday.

BREAKINGVIEWS-Japanese drugmaker strikes yet another costly deal

** ROYAL CARIBBEAN CRUISES LTD, $76.21, +5.42 pct   Continued...