Market Update

The Board of Directors of Commtouch Software Ltd CTCH named Shlomi Yanai as its chief executive officer. Shares of Adolor Corporation ADLR jumped about 130% after Cubist Pharmaceuticals Inc CBST announced its plans to acquire all of the outstanding shares of Adolor for $4.25 per share in cash. Shares of RightNow Technologies Inc RNOW surged about 19% after Oracle Corp ORCL announced its plans to buy RightNow Technologies for $43 per share, or around $1.5 billion. Oracle expects the deal to close late this year or early next year. Shares of Mattel Inc MAT rose about 0.8% after the company announced its plans to buy HIT Entertainment for $680 million in an all-cash deal. Mattel expects the deal to close in first-quarter 2012.