M&A activity lift markets

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Merger and acquisition activity lifted the markets to a sharply higher close with the Dow leaping 121 points to 18,162. Nasdaq surged 73 points to 5,106.

On the upside

Avago Technologies engaged in advanced discussions to purchase Broadcom (Nasdaq: BRCM).

Reports that Greece has was drafting an agreement with its creditors lifted shares of National Bank of Greece (NYSE: NBG).

Idera Pharmaceuticals (Nasdaq: IDRA) will present at the Jefferies 2015 Global Healthcare Conference and at the 9th Annual JMP Securities Healthcare Conference.
 
On the downside

Yingli Green Energy (NYSE: YGE) reported lower full year earnings.

China Ming Yang Wind Power (NYSE: MY) reported sharply lower first quarter earnings even as revenue rose.

Investors continued to lock in profits on Youku Tudou (NYSE: YOKU).
 
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 19 points to 2123. Bitcoin held steady at $236.

Markets continue soaring

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The markets extended its gains during the midday with the Dow surging 133 points to 18,174. Nasdaq soared 64 points to 5,097.

On the upside

Ceres (Nasdaq: CERE) received a U.S. patent for a genetic sequence derived from soybean.

Galena Biopharma (Nasdaq: GALE) announced that two abstracts published by American Society of Clinical Oncology advanced the company's cancer immunotherapy programs NeuVax and GALE-301.

Retrophin (Nasdaq: RTRX) will sell its Rare Pediatric Disease Priority Review Voucher to Sanofi (NYSE: SNY).
 
On the downside

GlobeImmune (Nasdaq: GBIM) reported disappointing results from a Phase 2 study of GS-4774 to treat chronic hepatitis B.

Prima BioMed (Nasdaq: PBMD) partnered with Database Integrations to commercialize iCAN, the software platform powering Prima's CVac cellular therapy, but the stock price fell.

Shares of Shake Shack (NYSE: SHAK) continued falling.
 
In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 17 points to 2122. Bitcoin eased a fraction to $236.

Markets open higher

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The market recovered from yesterday's steep losses to open higher with the Dow climbing 94 points to 18,137. Nasdaq gained 33 points to 5,066.

On the upside

Fortinet (Nasdaq: FTNT) will pay a premium of approximately $44 million in cash to acquire Meru Networks (Nasdaq: MERU).

Dawson James initiated coverage of Great Basin Scientific (Nasdaq: GBSN) with a Buy rating and a $10 price target.

Tiffany (NYSE: TIF) reported lower first quarter earnings and revenue but the results were better than expected.
 
On the downside

Michael Kors (NYSE: KORS) reported higher fourth quarter earnings and revenue but the results fell short of analyst expectations and the retailer forecast 2016 results below estimates.

Workday (NYSE: WDAY) narrowed first quarter losses more than expected as revenue soared but the stock price fell.

21Vianet Group (Nasdaq: VNET) narrowed losses for the first quarter but the stock price fell after Barron's said that the company was overvalued.
 
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 gained 10 points to 2114. Bitcoin added $1 to $238.
Concerns that Greece's negotiations with creditors may stall sent the markets plummeting to close sharply lower with the Dow collapsing 190 points to 18,041. Nasdaq dove 56 points to 5,032.

On the upside

Barron's initiated coverage of Vascular Biogenics (Nasdaq: VBLT) with a Buy rating and a $13 price target.

Shares of Baozun (Nasdaq: BZUN) continued rising after making its Nasdaq debut last Thursday.

Calcalist reported that Nice Systems engaged in negotiations to buy LivePerson (Nasdaq: LPSN).
 
On the downside

Shares of Qunar Cayman Islands (Nasdaq: QUNR) fell after Priceline (Nasdaq: PCLN) announced an additional $250 million investment into Qunar rival Ctrip.com (Nasdaq: CTRP).

Tuniu (Nasdaq: TOUR) widened first quarter losses prompting a downgrade.

Tata Motors (NYSE: TTM) disappointed with sharply lower fourth quarter earnings that missed expectations by a wide margin and cancelled its full year dividend.
 
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 plunged 21 points to 2104. Bitcoin held steady at $236.
Despite a stronger than expected increase in new home sales last month, the markets extended its losses during the midday with the Dow diving 189 points to 18,042. Nasdaq plunged 54 points to 5,034.

On the upside

Bargain hunters snapped up shares of FXCM (NYSE: FXCM).

Hot Topic will pay a premium of approximately $122 million to acquire Geeknet (Nasdaq: GKNT).

An affiliate of SFX Entertainment (Nasdaq: SFXE) chief executive Robert F.X. Sillerman will take the company private in a deal valued at approximately $774 million.
 
On the downside

Shares of Jumei International Holding (NYSE: JMEI) extended its losses.

Investors locked in profits on Shake Shack (NYSE: SHAK).

Concerns that Greece may not reach a deal to restructure its debt weighed down shares of National Bank of Greece (NYSE: NBG).
 
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The broader S&P 500 tumbled 20 points to 2105. Bitcoin added $1 to $237.
The markets opened sharply lower with the Dow plummeting 122 points to 18,109 as crude oil prices continued to fall. Nasdaq tumbled 43 points to 5,046.

On the upside

Prima BioMed (Nasdaq: PBMD) reported positive data from a Phase II CAN-003 ovarian cancer clinical trial.

The Food and Drug Administration granted Fast Track designation to IntelliPharmaCeutics International's (Nasdaq: IPCI) abuse deterrent Rexista Oxycodone extended-release tablets.

McDermott International (NYSE: MDR) won a brownfield contract from Saudi Aramco.
 
On the downside

Investors locked in profits on Youku Tudou (NYSE: YOKU).

RBC Capital downgraded First Solar (Nasdaq: FSLR) from a Sector Perform to an Underperform rating.

Retreating gold prices weighed down shares of Barrick Gold (NYSE: ABX) and Kinross Gold (NYSE: KGC).
 
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 dropped 14 points to 2112. Bitcoin added $1 to $237.

U. S. markets closed

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U. S. markets are closed for Memorial Day.
Retreating crude oil prices weighed the markets down to a lower close with the Dow dropping 53 points to 18,232. Nasdaq eased a point to 5,089.

On the upside

Canaccord Genuity upgraded ReWalk Robotics (Nasdaq: RWLK) from a Hold rating to a Buy rating.

E-Commerce China Dangdang (NYSE: DANG) will report first quarter earnings on May 28, 2015.

Bargain hunters lifted shares of Sarepta Therapeutics (Nasdaq: SRPT).
 
On the downside

Shares of China Information Technology (Nasdaq: CNIT) continued falling.

Profit taking weighed down shares of ChinaCache International (Nasdaq: CCIH).

Retreating crude oil prices weighed down shares of offshore drilling services provider SeaDrill (NYSE: SDRL).
 
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped 4 points to 2126. Bitcoin added $1 to $236.
Crude oil prices slipped to weigh the markets down during the midday with the Dow falling 55 points to 18,229. Nasdaq edged up a point to 5,091.

On the upside

Eagle Rock Energy Partners (Nasdaq: EROC) will merge with a subsidiary of Vanguard National Resources (Nasdaq: VNR).

Shares of Shopify (NYSE: SHOP) continued soaring.

Youku Tudou (NYSE: YOKU) stock extended its gains.
 
On the downside

Otonomy (Nasdaq: OTIC) reported disappointing results from a Phase 2b trial of its unilateral Meniere's disease treatment OTO-104.

Chardan Capital Markets initiated coverage of Esperion Therapeutics (Nasdaq: ESPR) with a Sell rating.

Marvell Technology Group (NYSE: MRVL) reported sharply lower first quarter earnings as revenue fell and forecast current quarter results below expectations.
 
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2127. Bitcoin added $1 to $236.
The market markets opened mixed with the Dow losing 19 points to 18,266 while Nasdaq rose 7 points to 5,098 as consumer prices edged up 0.1%.

On the upside

Shares of Oncothyreon (Nasdaq: ONTY) continued to climb.

AVEO (Nasdaq: AVEO) stock extended its gains.

Ctrip (Nasdaq: CTRP) acquired a 37.6% stake in eLong (Nasdaq: LONG).
 
On the downside

Viggle (Nasdaq: VGGL) priced its public offering of approximately 3.6 million common shares at the discounted price of $2.50 per share.

Jumei International (NYSE: JMEI) reported higher first quarter earnings and revenue but the stock price fell.

Aeropostale (NYSE: ARO) reported a larger than expected loss for the first quarter as revenue fell.
 
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 eased a point to 2129. Bitcoin held steady at $235.

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