Morning Market Movers (RHB, OCLS, KND, NOVB)

Rehabcare Group Inc (NYSE: RHB) jumped 46.25% to $37.25 at 10:00 am. Kindred Healthcare (NYSE: KND) agreed to purchase RHB for around $900 million in cash and stock.

Oculus Innovative Sciences Inc (NASDAQ: OCLS) shares advanced 28.26% to $2.36. OCLS received a new FDA 510(k) clearance for its Microcyn-based Epicy HydroGel.

Kindred Healthcare Inc (NYSE: KND) climbed 27.05% to $24.75. KND agreed to purchase Rehabcare Group (NYSE: RHB) for around $900 million in cash and stock.

North Valley Bancorp (NASDAQ: NOVB) shares surged 23.71% to $12.99. NOVB reported its Q4 net operating income at $2,269,000, compared with a net operating loss of $19,340,000, in the year-ago period.

Read more from Benzinga's Markets.