BUZZ-U.S. Stocks on the Move-Quidel, Shoe Carnival, Idera Pharma

Tue Dec 2, 2014 12:34pm EST
 
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U.S. stocks rose 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 0.34 percent at 17,837.27, the S&P 500 was up 0.45 percent at 2,062.75 and the Nasdaq Composite was up 0.46 percent at 4,748.99.

** AVANIR PHARMACEUTICALS INC, $16.92, +12.80 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, $76.25, +5.48 pct   Continued...