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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 0.43 percent at 17,852.45, the S&P 500 was up 0.49 percent at 2,063.47 and the Nasdaq Composite was up 0.38 percent at 4,745.31.
** DIGITAL ALLY INC, $17.23, +33.88 pct
** TASER INTERNATIONAL INC, $23.48, +6.29 pct
** IMAGE SENSING SYSTEMS INC, $2.977, +22.01 pct
The wearable camera makers gain after U.S. President Barack Obama pledges $263 million over 3 years to buy 50,000 body-worn cameras and to pay for law enforcement training as part of federal response to civil rights protests in Ferguson, Missouri.
** SHOE CARNIVAL INC, $23.13, +17.89 pct
The footwear retailer reported better-than-expected Q3 profit and sales, helped by strong demand for its fashion boots.
** IDERA PHARMACEUTICALS INC, $3.6699, +17.63 pct
The biotech company named former ViroPharma CEO Vincent Milano as CEO on Monday, succeeding Sudhir Agrawal who will stay on the board and continue to lead research.
** CYPRESS SEMICONDUCTOR CORP, $12.07, +15.72 pct
** SPANSION INC, $28.13, +23.11 pct
Cypress will buy peer Spansion for $1.59 billion in stock, creating a chipmaker with more than $2 billion in annual revenue to help it shrug off weakness in the smartphone market.
** VIGGLE INC, $4.24, +14.91 pct
The entertainment services provider partnered with cable and satellite channel Home & Garden Television (HGTV) to boost viewers through reward programs. HGTV viewers will get points and rewards for watching HGTV programming across Viggle’s platform, such as free Viggle app, Wetpaint.com and Viggle Reminders.
** VINCE HOLDING CORP, $30.17, -17.39 pct
The high-end apparel maker forecast full-year profit and sales largely below analysts’ estimates. The company forecast sales of $335 million-$345 million and profit of 90-94 cents per share for year ending February 2015. Analysts on average were expecting profit of 94 cents per share and sales of $345 million.
** DIGIMARC CORP, $27.64, +13.56 pct
The maker of software for digital watermarking of objects said an investor it did not identify bought 8 percent of outstanding shares under its continuous offering program. The company said proceeds sufficient to meet current working capital needs and that it did not expect to make significant sales of stock in future.
** AVANIR PHARMACEUTICALS INC, $16.925, +12.83 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
** CALLON PETROLEUM CO, $4.86, +10.20 pct
Roth Capital Partners starts covering stock with “buy” rating and $13.50 price target, citing improving earnings and production growth in 2014.
** QUIDEL CORP, $24.77, -9.57 pct
The diagnostic test maker said it would offer $150 million worth convertible senior notes due 2020. The company intends to use net proceeds from the offering for working capital, acquisition purposes and share repurchase.
** BIOGEN IDEC INC, $327.7201, +6.25 pct
The biotechnology company’s research chief said it was planning a late-stage trial of its experimental treatment for Alzheimer’s disease after the drug cut brain plaque levels and improved cognition in a small early-stage study.
** CAPITAL SOUTHWEST CORP, $39.64, +7.57 pct
The business development company to separate into two public companies, one focusing on diversified industrial growth and Capital Southwest Corp (CSWC) to focus on lending to middle-market companies.
** SOUFUN HOLDINGS LTD, $8.6, +6.04 pct
** E-HOUSE CHINA HOLDINGS LTD, $8.77, +2.45 pct
Home prices in China’s 10 wealthiest cities showed a 0.07 percent increase in November from October, the first month-on-month rise after dropping for the past six months.
** AURICO GOLD INC, $3.52, -8.09 pct
** IAMGOLD CORP, $2.265, -3.62 pct
** ANGLOGOLD ASHANTI LTD, $8.95, -4.18 pct
** RIO ALTO MINING LTD, $2.43, -3.95 pct
** RANDGOLD RESOURCES LTD, $65.72, -4.50 pct
Gold prices fell due to strong dollar and renewed expectations of Federal Reserve tightening monetary policy around mid-2015.
Spot gold dipped 0.8 percent to $1,200.40 an ounce by 1502 GMT, after rising nearly 4 pct on Monday in biggest one-day jump since September 2013.
** ROYAL CARIBBEAN CRUISES LTD, $76.2, +5.41 pct
The company would replace Bemis Co Inc in S&P 500 index and be added to S&P 500 GICS (Global Industry Classification Standard) Hotel, Resorts & Cruise Lines sub-industry index.
Barclays raised its price target to $94 from $75.
** FIAT CHRYSLER AUTOMOBILES NV, $13.06, +2.75 pct
** GENERAL MOTORS CO, $33.4, +1.40 pct
Automakers sold more cars and trucks in November than analysts’ expectations as a surging U.S. economy and falling fuel prices help drive sales of big pickups and SUVs.
** RADIOSHACK CORP Stock halted at 10:03 a.m. ET at 77 cents
The troubled electronics retailer said claims by lender Salus Capital Partners that it had breached covenants on a $250 million term facility was “wrong and self serving”.
** AERCAP HOLDINGS NV, $42.15, -2.88 pct
The aircraft leasing company’s investor, Abu Dhabi’s Waha Capital, to sell about 14.9 million shares, or about half its stake in AerCap.
** TREVENA INC, $4.58, -2.97 pct
Drug developer commenced public offering of shares worth $40 million. The company is scheduled to price its offering on Thursday after market close.
** TURQUOISE HILL RESOURCES LTD, $9.57, +2.13 pct
The Canadian miner amended a deal with National United Resources Holdings for the sale of its 25.65 percent stake in South Gobi Resources Ltd. The amendment extended the closing date to April 30 from Nov. 30. (Compiled by Amrutha Penumudi in Bengaluru; Editing by Sriraj Kalluvila)