Crude oil prices dropped as nuclear negotiations with Iran extended beyond the original deadline. The markets slumped to close sharply lower the Dow collapsing 200 points to 17,776.  Nasdaq plunged 46 points to 4,900.

On the upside

Craig-Hallum initiated coverage of Cambrex (NYSE: CBM) with a Buy rating and a $50 price target.

MLV & Co. upgraded Coronado Biosciences (Nasdaq: CNDO) from a Hold rating to a Buy rating.

Piper Jaffray lifted its price target on J.C. Penney (NYSE: JCP) from $13 to $14.

On the downside

Shares of OvaScience (Nasdaq: OVAS) extended its losses.

SAIC (NYSE: SAIC) reported higher fourth quarter earnings and revenue that topped analyst estimates but the stock price dropped.
 
Concerns of a coal glut weighed down shares of Peabody Energy (NYSE: BTU).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 tumbled 18 points to 2067. Bitcoin slipped $2 to $243.

Markets fall as crude oil retreats

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Falling crude oil prices weighed the markets down during the midday with the Dow dropping 86 points to 17,889.  Nasdaq fell 18 points to 4,929.

On the upside

RADA Electronic Industries (Nasdaq: RADA) entered a strategic agreement with DRS Technologies to introduce RADA's tactical active electronically scanned array radar technology to North America.

E-Commerce China Dangdang (Nasdaq: DANG) reported sharply higher fourth quarter earnings that topped analyst estimates as revenue climbed.

Fourth quarter earnings climbed for Movado Group (NYSE: MOV) to surpass analyst expectations by a wide margin.

On the downside

Raptor Pharmaceutical (Nasdaq: RPTP) announced a public offering of $75 million worth of common stock.

Celladon (Nasdaq: CLDN) widened losses for the fourth quarter.
 
Shares of Ohr Pharmaceutical (Nasdaq: OHRP) continued falling.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 fell 7 points to 2078. Bitcoin slipped $2 to $242.
The markets opened lower with the Dow tumbling 79 points to 17,896 as the deadline to reach a nuclear deal with Iran loomed.  Nasdaq lost 17 points to 4,929.

On the upside

Piper Jaffray upgraded Horizon Pharma (Nasdaq: HZNP) from a Neutral rating to an Overweight rating.

The U.S. Patent and Trademark Office issued a patent to Great Basin Scientific (Nasdaq: GBSN) for the company's method of isothermal helicase-dependent amplification using blocked primers.

Charter Communications (Nasdaq: CHTR) will acquire rival Bright House Networks in a cash and stock deal valued at approximately $10.4 billion.

On the downside

Synta Pharmaceuticals (Nasdaq: SNTA) priced its public offering of 22 million common shares at the discounted price of $1.75.

Teck Resources (NYSE: TCK) denied that it engaged in merger discussions with Antofagasta.
 
Vaalco Energy (NYSE: EGY) will plug and abandon the post-salt Kindele-1 well offshore Angola.

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 lost 8 points to 2077. Bitcoin slipped $3 to $242.
Corporate consolidations sparked a rally that sent the markets soaring to a sharply higher close with the Dow rocketing 263 points to 17,976.  Nasdaq leaped 56 points to 4,947.

On the upside

Bargain hunters lifted shares of Genetic Technologies (Nasdaq: GENE).

Ford (NYSE: F) introduced the revived Lincoln Continental Concept using patented technology from Research Frontiers (Nasdaq: REFR) for an SPD-SmartGlass electronically tinting sunroof.

Fortune Brands Home & Security (NYSE: FBHS) offered a premium of approximately $600 million in cash to buy Norcraft (NYSE: NCFT).

On the downside

H.C. Wainwright analyst Andrew S. Fein said that data from a small study that was released by OvaScience (Nasdaq: OVAS) last week was promising but that it was too early to determine the viability of the fertility treatment Augment.

RBC Capital Markets downgraded Oi SA (NYSE: OIBR) from a Sector Perform rating to an Underperform rating.
 
Shares of 500.com (NYSE: WBAI) extended its losses.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 soared 25 points to 2086. Bitcoin added $6 to $246.
Pending home sales surged more than expected to send the markets soaring during the midday with the Dow leaping 270 points to 17,982.  Nasdaq jumped 50 points to 4,941.

On the upside

Fujifilm Holdings will buy Cellular Dynamics International (Nasdaq: ICEL) for a premium of approximately $307 million in cash.

ChinaNet Online Holdings (Nasdaq: CNET) entered a service partner agreement with Baidu (Nasdaq: BIDU).

Barclays upgraded Analog Devices (Nasdaq: ADI) from an Equal Weight rating to an Overweight rating.

On the downside

Investors locked in profits on World Wrestling Entertainment (NYSE: WWE) after the entertainment company reported record attendance at Levi's Stadium and record company revenue for a live event for WrestleMania 31 on Sunday.

The Food and Drug Administration issued a Complete Response Letter to Adamis Pharmaceuticals (Nasdaq: ADMP) for its Pre-filled Single Dose Epinephrine Syringe.
 
Wunderlich Securities downgraded Breitburn Energy Partners (Nasdaq: BBEP) from a Hold rating to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 soared 24 points to 2085. Bitcoin rose $3 to $243. 
A flurry of pharmaceutical acquisitions sent the markets soaring to a sharply higher open with the Dow jumping 257 points to 17,970.  Nasdaq surged 45 points to 4,936.

On the upside

United Health Group will acquire pharmacy benefits manager Catamaran (Nasdaq: CTRX) in a deal valued at approximately $12.8 billion.

Auspex Pharmaceuticals (Nasdaq: ASPX) agreed to be acquired by Teva Pharmaceuticals (NYSE: TEVA) in a transaction valued at approximately $3.5 billion.

Horizon (Nasdaq: HZNP) will pay a premium of approximately $1.1 billion in cash to buy Hyperion Therapeutics (Nasdaq: HPTX).

On the downside

BioDelivery Sciences International (Nasdaq: BDSI) reported disappointing results from a Phase 3 study of Clonidine Topical Gel to treat painful diabetic neuropathy.

Abbott Laboratories will sell 35 million common shares of Mylan (Nasdaq: MYL) that it holds.
 
Morgan Stanley downgraded Altera (Nasdaq: ALTR) from an Overweight rating to an Equal Weight rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 surged 21 points to 2082. Bitcoin added $2 to $242.

Higher close on M&A news

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Merger and acquisition news lifted the markets to a higher close with the Dow rising 34 points to 17,712.  Nasdaq climbed 27 points to 4,891.

On the upside

The Wall Street Journal reported that Intel (Nasdaq: INTC) engaged in discussions to acquire Altera (Nasdaq: ALTR).

ChinaCache International (Nasdaq: CCIH) swung to a profit for the fourth quarter.

Bargain hunters continued to snap up shares of Advanced Micro Devices (Nasdaq: AMD).

On the downside

Falling crude oil prices weighed down shares of Energy XXI (Nasdaq: EXXI) and Magnum Hunter Resources (NYSE: MHR).

OvaScience (Nasdaq: OVAS) discussed pregnancy rates of women who received its AUGMENT treatment in a conference call with analysts.
 
MOL Global (Nasdaq: MOLG) fell to a loss for the fourth quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 rose 4 points to 2061. Bitcoin added $1 to $247.
The markets traded near the flatline during the midday with the Dow slipping a point to 17,676 as economic growth in the fourth quarter slowed.  Nasdaq rose 11 points to 4,874.

On the upside

Shares of Kraft Foods (Nasdaq: KRFT) continued climbing.

BlackBerry (Nasdaq: BBRY) reported an unexpected profit for the fourth quarter.

Fourth quarter earnings rose for Oxford Industries (NYSE: OXM) to beat analyst expectations.

On the downside

Falling steel consumption in China weighed down shares of Gerdau (NYSE: GGB).

Applied DNA Sciences (Nasdaq: APDN) priced its public offering of 3.82 million common shares at the discounted price of $3.00 per share.
 
Shares of SandRidge Energy (NYSE: SD) fell as crude oil prices retreated.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 edged up a fraction to 2057. Bitcoin added $1 to $247.
The nation's economic growth expanded at a modest 2.2% in the fourth quarter which allayed fears of an interest rate increase. The markets opened higher with the Dow rising 12 points to 17,690. Nasdaq gained 22 points to 4,885.

On the upside

Olin (NYSE: OLN) will acquire Dow Chemical's (NYSE: DOW) chlor-alkali and downstream derivatives businesses in a cash and stock transaction valued at approximately $5 billion.

LiveDeal (Nasdaq: LIVE) products will now be available on Amazon.

Carnival (NYSE: CCL) reversed year ago losses to post a stronger than expected profit for the first quarter.

On the downside

Ohr Pharmaceutical (Nasdaq: OHRP) reported disappointing results from a Phase II study of its eye drop solution OHR-102.

Quiksilver (NYSE: ZQK) chief executive Andy Mooney departed the company and will be replaced by Pierre Agnes.
 
Shares of Peabody Energy (NYSE: BTU) continued to fall.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 4 points to 2056. Bitcoin added $1 to $246.
Concerns about escalating violence in the Middle East weighed the markets down to a lower close with the Dow losing 40 points to 17,678. Nasdaq fell 13 points to 4,863.

On the upside

A district court granted On Track Innovations' (Nasdaq: OTIV) motion for a summary judgment that T-Mobile infringed on On Track's patent.

GenFit reported disappointing data from a clinical trial which lifted shares of competitor Intercept Pharmaceuticals (Nasdaq: ICPT).

Bloomberg reported that Synergy Pharmaceuticals (Nasdaq: SGYP) was exploring a possible sale of the company.

On the downside

Enova International (NYSE: ENVA) affirmed its guidance for the full year but the stock price fell.

Shares of World Acceptance (Nasdaq: WRLD) extended its losses.
 
Possible changes to the process that royalties are collected from coal mined on federal land weighed down shares of Peabody Energy (NYSE: BTU).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 4 points to 2056. Bitcoin added $1 to $246.

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