Higher open as airstrike timeline walked back

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The markets opened higher with the Dow soaring 113 points to 24,302 as President Donald Trump walked back the timing of potential airstrikes on Syria. Nasdaq climbed 43 points to 7112.


On the upside


Chicago Bridge & Iron (NYSE: CBI) reported higher preliminary first quarter earnings. 


The Food and Drug Administration lifted its clinical hold on Bellicum Pharmaceuticals' (Nasdaq: BLCM) BPX-501.


Bargain hunters lifted shares of QuinStreet (Nasdaq: QNST).

 

On the downside 


Bed Bath & Beyond (Nasdaq: BBBY) reported a greater than expected drop in same store sales for the fourth quarter and forecast disappointing results for fiscal 2018 prompting Wedbush to cut its price target from $23.00 to $18.00 and Credit Suisse to lower its price target from $25.00 to $20.00.


Novavax (Nasdaq: NVAX) priced its public offering of more than 30 million common shares at the discounted price of $1.65 per share.


Retreating gold prices weighed down shares of Harmony Gold (NYSE: HMY) and Yamana Gold (NYSE: AUY).


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 gained 11 points to 2,653. Bitcoin leaped $795 to $7,699.


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This page contains a single entry by published on April 12, 2018 6:52 AM.

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