Closing Bell: DreamWorks Eyes Viacom's Paramount; U.S. Stocks Surge

It was a blockbuster of a start for March with the S&P 500 surging more than 2% on Tuesday.
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It was a blockbuster of a start for March with the S&P 500 surging more than 2% on Tuesday. Traders had their pick of good news to choose from: U.S. manufacturing showed improvement, strength in car sales continued and crude closed above $34 a barrel. Tesla (TSLA) plummeted after short-seller Citron Research took aim. Citron revealed a short position, arguing both supply and demand problems will weigh on share prices. SunEdison (SUNE) lost one-fifth of its value today after delaying the release of its 2015 financial results. Internal investigations related to allegations from former execs over its accounting are still ongoing. Viacom (VIA.B) climbed after DreamWorks (DWA) CEO Jeffrey Katzenberg expressed interest in a potential merger with its film studio Paramount Pictures. Viacom is currently considering selling minority stakes in Paramount. TheStreet's Keris Lahiff reports from Wall Street.