Higher open despite uptick in jobless claims

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Despite an uptick in jobless claims, the markets opened higher with the Dow climbing 81 points to 20,485 as investors focused on earnings. Nasdaq gained 26 points to 5,889.


On the upside


Immune Pharmaceuticals (Nasdaq: IMNP) signed a letter of intent with Pint Pharma to negotiate an exclusive license by Pint for the rights to commercialize Ceplene in Latin America.


KCG Holdings (NYSE: KCG) will be acquired by Virtu Financial (Nasdaq: VIRT) in an all cash transaction valued at approximately $1.4 billion.


Select Comfort (Nasdaq: SCSS) reported sharply higher first quarter earnings that topped analyst estimates and lifted its full year forecast.


On the downside


Whitestone REIT (NYSE: WSR) will pay approximately $204.6 million to acquire retail centers Eldorado Plaza and BLVD Place and announced a public offering of 8.1 million common shares.


Mednax (NYSE: MD) reported lower preliminary first quarter earnings that fell short of expectations.

 

The Kansas Corporation Commission rejected the proposed merger between Great Plains Energy (NYSE: GXP) and Westar Energy (NYSE: WR).


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 index rose 8 points to 2,346. Bitcoin climbed $18 to $1222.


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This page contains a single entry by published on April 20, 2017 6:48 AM.

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