Bargain hunters boost markets

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The markets recovered with the Dow soaring 130 points to 21,440 as bargain hunters snapped up deals. Nasdaq surged 55 points to 6,202.


On the upside


Philips will acquire Spectranetics (Nasdaq: SPNC) for a premium of approximately $1.7 billion in cash.


Envestnet Asset Management increased its stake in United Microelectronics (NYSE: UMC) by 33.7% to 130,348 shares.


Shares of Chicago Bridge & Iron (NYSE: CBI) extended its gains.


On the downside


Eldorado Gold (NYSE: EGO) warned that production at its Kisladag gold mine will fall short of its 2017 guidance. 


Canada Goose Holdings (NYSE: GOOS) priced its secondary offering of 12.5 million subordinate voting shares at the discounted price of $20.75 per share.

 

Paychex (Nasdaq: PAYX) reported higher fourth quarter earnings and revenue but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 18 points to 2,437. Bitcoin leaped $79 to $2510.


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This page contains a single entry by published on June 28, 2017 6:49 AM.

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