May 10, 2011 at 10:52 AM EDT
Acquisition News Lifts Markets To Higher Open

Acquisition news lifted the markets to a higher open with the Dow climbing 55 points 12,739. Nasdaq gained 15 points to 2858.

On the upside

Apollo Global Management will pay a premium of $5.50 per share in cash to acquire "American Idol" parent company CKx (Nasdaq: CKXE).

Dean Foods (NYSE: DF) reported lower first quarter earnings but the results surpassed analyst expectations.

Fossil (Nasdaq: FOSL) reported sharply higher first quarter earnings that beat analyst expectations as revenue climbed.

On the downside

BioMimetic Therapeutics (Nasdaq: BMTI) disappointed with a loss for the first quarter.

Although MannKind (Nasdaq: MNKD) narrowed first quarter losses, the loss was greater than expected.

Mad Money's Jim Cramer said that Chinese social networking site Renren (NYSE: RENN) was too expensive.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 to 851.

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