BUZZ-U.S. STOCKS ON THE MOVE-EMC, Cerulean, Geeknet, Imris
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks opened lower on Tuesday as the dollar pushed higher after data showed that U.S. business investment spending plans increased in April for the second straight month. The Dow Jones industrial average was down 0.73 percent at 18,099.43, the S&P 500 was down 0.65 percent at 2,112.22 and the Nasdaq Composite was down 12.17 points, or 0.24 percent, at 5,077.20.
** GEEKNET INC, $17.21, +117.85 pct
Mall-based apparel and accessories retailer Hot Topic Inc offered to buy online retailer Geeknet for $117.8 million.
Hot Topic's $17.50 per share offer represents a 121 percent premium to the stock's Friday close.
** IMRIS INC, $0.1017, -83.27 pct
The Canadian medical device maker and two subsidiaries filed for Chapter 11 protection on Tuesday.
The company said it intends to sell itself to Deerfield Management LP and had secured debtor-in-possession financing commitment from Deerfield. Continued...