Merger and acquisition activity lifted the markets to a higher open with the Dow rising 21 points to 17,925. Nasdaq gained 14 points to 5,070.

On the upside

Synergy Pharmaceuticals (Nasdaq: SGYP) reported positive results from a Phase 3 study of its chronic idiopathic constipation treatment plecanatide.

Allergan will pay a premium of approximately $2.1 billion in cash and stock to acquire Kythera Biopharmaceuticals (Nasdaq: KYTH).

A consortium of investors lead by Qihoo 360 Technology (NYSE: QIHU) chairman and chief executive Hongyi Zhou offered to a premium of $77 per American Depositary Share to take the company private.
 
On the downside

Ocata Therapeutics (Nasdaq: OCAT) priced its offering of 5.5 million common shares at the discounted price of $5.50 per share.

Shares of AirMedia Group (Nasdaq: AMCN) extended its losses.

Rock Creek Pharmaceuticals (Nasdaq: RCPI) announced a registered direct offering to raise approximately $3.7 million.
 
In the broad market, advancing issues outpaced decliners by a margin 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 added 4 points to 2100. Bitcoin climbed $6 to $252.