Market Overview

Market Update

Shares of Pall Corporation (NYSE: PLL) gained about 0.4% after the company announced its plans to acquire ForteBio®, Inc. The deal is likely to close by February of 2012. The terms of the transaction were not disclosed.

Shares of Hanmi Financial Corporation (NASDAQ: HAFC) gained about 0.9% after the company announced its plans to implement a 1-for-8 reverse stock split for common shareholders of record on December 16, 2011.

Shares of Moody's Corp (NYSE: MCO) gained about 0.7% after the company reported that it acquired British risk management company Barrie & Hibbert Ltd for GBP 50 million ($77.6 million).

Shares of Jakks Pacific Inc (NASDAQ: JAKK) dropped about 14% after the company cut its earnings forecast for this year. Jakks Pacific expects 2011 earnings of $0.37 to $0.40 per share on revenue of $660 million, down from its earlier estimates of $1.32 to $1.35 per share in earnings and $770 million to $775 million in revenue.

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