Acquisition activity lifts markets

Acquisition activity lifted the markets to a higher close with the Dow rising 20 points to 16,511. Nasdaq gained 35 points to 4,125.

On the upside

Pepsico (NYSE: PEP) extended its collaboration with Senomyx (Nasdaq: SNMX) for Senomyx's sweet-taste technology.

RBC Capital upgraded Micron Technology (Nasdaq: MU) from a Sector Perform rating to an Outperform rating.

A Seeking Alpha contributor expects the Food and Drug Administration to approve MannKind's (Nasdaq: MNKD) inhalable insulin product Afrezza.

On the downside

Investors locked in profits on Arotech (Nasdaq: ARTX).

Profit taking weighed down shares of Hyperdynamics (NYSE: HDY).

Shares of Highpower International (Nasdaq: HPJ) extended its losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 1885. Bitcoin rose $2.46 or 0.55% to $445.40.

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