Market Update

Shares of Kohlberg Kravis Roberts & Co LP KKR gained about 0.7% after the company named former Morgan Stanley MS Chairman and CEO John Mack as a senior advisor to the firm. Shares of Hatteras Financial Corp HTS dropped about 2.2% after the company announced its plans to sell 15 million shares in a public offering. Shares of Opnext Inc OPXT surged about 50.1% after Oclaro Inc OCLR announced its plans to acquire Opnext in an all-stock deal valued at around $177 million. OPXT shareholders will receive 0.42 shares of OCLR common stock for every Opnext share. The offer price represents around 74% premium to Opnext's closing price on Monday. The deal is likely to close within three to six months. Societe Generale SCGLY has reduced Chief Executive Frederic Oudea's bonus by 43% for 2011. Oudea's bonus declined to 682,770 euros ($909,900), versus 1.2 million, in the year-ago period, SocGen said in a regulatory filing. Oudea's 2012 compensation in cash and stock has been lowered by 17.6% to 1.32 million euros.