Markets advance even as factory output holds steady

The markets traded higher during the midday with the Dow rising 22 points to 18,076 even as factory output remained flat for the second month. Nasdaq added 7 points to 5,112.

On the upside

Bank of America (NYSE: BAC) reported sharply higher second quarter earnings that beat expectations.

Celegene (Nasdaq: CELG) offered a premium of approximately $7.2 billion in cash to buy Receptos (Nasdaq: RCPT).
Maxim Group initiated coverage of Celsion (Nasdaq: CLSN) with a Buy rating and a $12 price target.
On the downside

Second quarter earnings climbed for Delta Air Lines (NYSE: DAL) to top estimates but the company forecast lower unit revenue for the current quarter.

Alegheny Technologies (NYSE: ATI) warned that it would report a loss for the second quarter.

OTR Global analyst Michael Foster said that Pandora Media (NYSE: P) experienced tepid buyer enthusiasm for a new programmatic buying platform.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 2111. Bitcoin added a point to $288.

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This page contains a single entry by published on July 15, 2015 10:23 AM.

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