Relief flooded Wall Street after a number of Federal Reserve speakers took a dovish turn following increasingly hawkish rhetoric. Fed Governor Lael Brainard cautioned prudence in raising rates. Horizon Pharma (HZNP) agreed to purchase Raptor Pharmaceutical (RPTP) in an all-cash deal worth around $800 million. Horizon said the deal broadens its ability to treat rare diseases. Software developer Open Text (OTEX) climbed after agreeing to acquire Dell's Enterprise Content Division for just over $1.6 billion. The employees of the unit will be integrated into Open Text. Pandora (P) climbed on reports it is close to announcing a new $5-a-month streaming service as soon as this week. The company could also offer a $10-a-month music-on-demand platform to rival Spotify by year's end. TheStreet's Keris Lahiff reports from Wall Street.
More from Video
Breaking down an approach to the long side of this biotech stock.
AMSC CEO discusses that and China challenges.
One of pharma's biggest CEO's talks M&A action on the exchange.
Citi overcame a mixed print to send its stock surging on Monday.