Markets soar on mild inflation


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.

About this Entry

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

Apple partners with Goldman Sachs was the previous entry in this blog.

Mixed open as crude oil prices ease is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12