Stryker Corp.’s SYK +1.20% first-quarter earnings rose 14% as the medical-device maker saw sales of its hip and knee replacements increase, providing further evidence that the orthopedic market may be picking up. The company and other orthopedic manufacturers like Biomet Inc. and Zimmer Holdings Inc. (ZMH) have been affected as patients postponed elective surgeries such as hip and knee replacements... 

Dreams Inc. DRJ +30.27% agreed to be acquired by privately owned online sports merchandiser Fanatics Inc. in a deal that values the sports retailer at roughly $156 million. Fanatics is offering Dreams shareholders $3.45 a share under the agreement, a 32% premium to the stock’s Friday closing price and above a 52-week high of $3.04 hit last month. Shares surged 45% to $3.79 in premarket trade,... 

Electric and natural-gas utility Alliant Energy Corp. LNT -0.81% said it has been approved by the Public Service Commission of Wisconsin to buy a natural-gas facility from Calpine Corp. CPN +0.17% for about $392 million. The Riverside Energy Center is a 600-megawatt combined-cycle natural-gas-fired electric generating facility in Beloit, Wisc. Alliant subsidiary Wisconsin Power and Light Co. has a... 

PPG Industries Inc. PPG +2.52% said Thursday it plans to shed 2,000 jobs and take $328 million in special charges, in the latest sign of the strains Europe’s industrial economic slowdown has placed on chemical makers. The U.S.-based coatings specialist said underlying earnings in the first quarter would be ahead of analysts’ expectations, helped by “modest” restocking in North... 

Hyundai Motor Co.’s (HYMLY, 005380.SE) U.S. auto sales rose 13% in March, setting an all-time year-over-year sales record, as the South Korean manufacturer continued to see strength from sales of the Sonata, Elantra and Accent. The auto maker has capitalized on a lineup of vehicles that are fuel-efficient and relatively low-priced compared with models offered by Hyundai’s peers. Hyundai... 

MEXICO CITY (MarketWatch) — Ford Motor Co. F +0.20% will invest $1.3 billion in its Mexico operations to build the new generation of one of its most-popular models, the mid-size Ford Fusion, company officials said Friday. The investment will be made in Ford’s stamping-and-assembly plant in Hermosillo, Sonora, where the company has already built 1.1 million Fusion cars since 2005, said Mark... 

Solar-energy-management device maker Enphase Energy Inc. ENPH +22.33% saw its shares jump 25% on their opening trade Friday, the company’s first day as a public stock. The stock opened at $7.50 on the Nasdaq after pricing at $6 a share, which was the low end of its price talk and well below the range of $10 to $12 a share it previously expected to garner in the offering. Enphase sold nine million... 

Tibco Software Inc.’s TIBX +4.64% fiscal first-quarter profit rose 29% as new contracts continued to grow revenue in the company’s main services-and-maintenance business. The software provider also authorized up to $300 million in new stock buybacks, replacing an existing repurchase program that had about $38 million remaining. Tibco, which makes real-time infrastructure software for Internet... 

Mizuho Financial Group Inc. plans to merge its group banks Mizuho Bank and Mizuho Corporate Bank on July 1 next year, Mizuho officials said Thursday, Kyodo News reported. Mizuho, which has so far said the merger date would be in the first half of fiscal 2013 starting in April next year, will officially decide on the date at a board meeting Friday, the officials said. Mizuho is also planning to merge... 

Sealy Corp. ZZ -1.05% posted a surprise fiscal first-quarter profit on strong international sales and higher pricing, which improved the mattress maker’s margins. Shares jumped 9% to $2.05 after hours on the stronger-than-expected results. The stock had fallen 29% over the past year through Tuesday’s close. Sealy has reported mixed results over the past year as the company struggles to...