Markets soar on mild inflation

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Mild inflation data sent the markets soaring to a sharply higher close with the Dow leaping 196 points to 24,739. Nasdaq climbed 65 points to 7404.


On the upside


ARMO BioSciences (Nasdaq: ARMO) will be acquired by Eli Lilly (NYSE: LLY) for a premium of approximately $1.6 billion in cash.


Turtle Beach (Nasdaq: HEAR) swung to a profit for the first quarter that beat expectations by a wide margin.


Prestige Brands (NYSE: PBH) topped analyst estimates for the fourth quarter.

 

On the downside 


Soaring tensions between Israel and Iran sent shares of Middle East based Amira Nature Foods (NYSE: ANFI) plummeting.


MDC Partners (Nasdaq: MDCA) widened first quarter losses prompting the advertising company to lower its full year forecast.


EyePoint Pharmaceuticals (Nasdaq: EYPT) widened third quarter losses.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 climbed 25 points to 2,723. Bitcoin plummeted $174 to $9,076.


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This page contains a single entry by published on May 10, 2018 2:00 PM.

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