Strong Demand At Auction Lifts Investor Sentiment
Strong demand at a Treasury debt auction lifted investor sentiment to boost the markets to a higher close with the Dow soaring 103 points to 8403. Nasdaq climbed 20 points to 1751.
On the upside
Shares of Angiotech Pharmaceuticals (Nasdaq: ANPI) continued rising after the FDA approved its TAXUS Liberte Atom Stent system yesterday.
CuraGen (NYSE: CRGN) will present data at the American Society of Clinical Oncology meeting this weekend from three clinical trials of its anti-body drug conjugate CR011-vcMMAE.
Cytori (Nasdaq: CYTX) published its first preclinical study showing significant improvement in the cardiac function of heart attack patients after treatment with adipose-derived stem and regenerative cells.
On the downside
Sealy (NYSE: ZZ) will launch a rights offering.
Revlon (NYSE: REV) announced the elimination of 400 jobs and warned that second quarter results will be weak.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 492.
