Increase In ISM Index Lifts Markets To Higher Close

The markets closed modestly higher with the Dow climbing 57 points to 8504 after the Institute for Supply Management reported that its manufacturing index rose. Nasdaq rose 10 points to 1845.

 

On the upside

Shares of LogMeIn (Nasdaq: LOGM) surged on its first day of trading.

MoneyGram International (NYSE: MGI) will provide money transfer services at Saudi Arabia's National Commercial Bank.

American International Group (NYSE: AIG) executed a 1-for-20 reverse stock split.

On the downside

Repros Therapeutics (Nasdaq: RPRX) halted the use of a higher 50 mg dose of its endometriosis treatment Proellex after an increase in liver enzymes in a few patients.

Acorda Therapeutics (Nasdaq: ACOR) sold the overseas rights to its multiple sclerosis treatment Fampridine-SR to Biogen Idec (Nasdaq: BIIB).

Immersion (Nasdaq: IMMR) initiated an internal review of certain revenue transactions.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 517.