Merger news lifted the markets to a higher open with the Dow gaining 47 points to 14,029. Nasdaq rose 12 points to 3204.
On the upside
The Wall Street Journal reported that Office Depot (NYSE: ODP) and OfficeMax (NYSE: OMX) have engaged in advanced negotiations for a possible merger. Shares of rival Staples (Nasdaq: SPLS) climbed on consolidation hopes.
Sealed Air (NYSE: SEE) narrowed fourth quarter losses more than expected.
Shares of SunPower (Nasdaq: SPWR) continued rising after Motley Fool wrote last week that the company would continue rising.
On the downside
Digital Generation (Nasdaq: DGIT) fell to a loss for the fourth quarter due to an impairment charge.
Yandex (Nasdaq: YNDX) reported higher fourth quarter earnings but the results fell short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index gained 6 points to 1526.
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