Markets Soar On Mergers And Acquisitions


Mergers and acquisitions news sent the markets soaring during the midday with the Dow leaping 194 points to 16,297. Nasdaq surged 47 points to 4310. 

On the upside 

Dynasil (Nasdaq: DYSL) subsidiary Optometrics will supply L-3 Communications with optical components for three years.

Bargain hunters lifted shares of Prana Biotechnology (Nasdaq: PRAN).

Kandi Technologies (Nasdaq: KNDI) will expand its short-term electric vehicle rental service to Beijing and Shanghai.

On the downside

Shares of J.C. Penney (NYSE: JCP) fell ahead of its earnings release on Wednesday. 

News that developers in China were cutting prices weighed down shares of E-House Holdings (NYSE: EJ).

LifeLock (NYSE: LOCK) warned that more whistleblower claims may be filed against the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 soared 22 points to 1858. Bitcoin plummeted $135.27 or 77/30% to $175.00.

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