Higher close as crude oil prices rise

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Rising crude oil prices lifted the markets to a sharply higher close with the Dow jumping 205 points to 25,574. Nasdaq soared 58 points to 7211.


On the upside


Bloomberg reported that Blackstone and Carlyle may be interested in acquiring Pitney Bowes (NYSE: PBI).


Progress Software (Nasdaq: PRGS) reversed year ago losses to post a profit for the fourth quarter.


Shares of Energy XXI Gulf Coast (Nasdaq:EXXI) continued to climb.


On the downside 


J.P.Morgan Chase sold some of its holdings in Arena Pharmaceuticals (Nasdaq: ARNA).


Shares of Axovant Sciences (Nasdaq: AXON) fell again.


Orchid Island Capital (NYSE: ORC) declared a quarterly dividend of $0.11 per share payable on February 9, 2018 to shareholder of record on January 31, 2018 but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 19 points to 2,767. Bitcoin collapsed $1,176 to $13,301.


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