Markets surge as Syria concerns eased

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Indications from President Donald Trump that the missile strikes on Syria on Friday completed their task and further military action would not be necessary allayed investor concerns. The markets opened sharply higher with the Dow surging 123 points to 24,483. Nasdaq gained 47 points to 7153.


On the upside


The Food and Drug Administration accepted Alkermes' (Nasdaq: ALKS) New Drug Application for ALKS 5461 to treat major depressive disorder. 


Tropicana Entertainment will sell its real estate to Gaming and Leisure Properties (Nasdaq: GLPI) and merge its gaming and hotel operations with Eldorado Resorts (Nasdaq: ERI).


Marriott Vacations Worldwide (NYSE: VAC) has engaged in advanced negotiations for a potential merger with ILG (Nasdaq: ILG).

 

On the downside 


Bristol-Myers Squibb (NYSE: BMY) reported positive results from two studies of its Opdivo and Opdivo in combination with Yervoy to treat lung cancer but Merck's (NYSE: MRK) Keytruda demonstrated stronger results.


National Oilwell Varco (NYSE: NOV) warned that first quarter revenue would fall short of previous guidance.


Celldex Therapeutics (Nasdaq: CLDX) reported disappointing results from a Phase 2b METRIC study of glembatumumab vedotin.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 14 points to 2,670. Bitcoin plummeted $352 to $7,959.


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This page contains a single entry by published on April 16, 2018 6:57 AM.

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