Tech recovery boosts markets to higher close

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A tech sector recovery lifted the markets to a sharply higher close with the Dow soaring 92 points to 21,328. Nasdaq climbed 44 points to 6,220.


On the upside


The Food and Drug Administration granted breakthrough therapy designation to Omeros' (Nasdaq: OMER) immunoglobulin A nephropathy treatment OMS721.


Hortonworks (Nasdaq: HDP) expanded its partnership with IBM (NYSE: IBM) to assist businesses in decision making based on data science and machine learning.


Rising crude oil price lifted shares of Eclipse Resources (NYSE: ECR), SM Energy (NYSE: SM) and Whiting Petroleum (NYSE: WLL).


On the downside


Science Applications International (NYSE: SAIC) reported lower first quarter revenue that fell short of expectations. 


Synaptics (Nasdaq: SYNA) trimmed its fourth quarter revenue forecast, announced plans to pay $300 million in cash and stock to acquire Conexant Systems, and said that it will acquire Marvell Technology Group's (Nasdaq: MRVL) multimedia business for $95 million in cash.

 

Investors locked in profits on Zix (Nasdaq: ZIXI).


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 climbed 10 points to 2,440. Bitcoin gained $31 to $2678.


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This page contains a single entry by published on June 13, 2017 2:10 PM.

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