October 03, 2012 at 10:40 AM EDT
September Job Creation Beats Estimates, Markets Open Higher
The markets opened higher with the Dow rising 16 points to 13,498 as private employers added more jobs in September than analysts expected. Nasdaq gained 10 points to 3130.
On the upside
Sarepta Therapeutics (Nasdaq: SRPT) reported upbeat midstage clinical trial results for its Duchenne Muscular Dystrophy treatment eteplirsen.
Ocwen Financial (NYSE: OCN) will pay approximately $750 million in cash and stock to acquire Homeward Residential Holdings.
Citigroup analyst Mark Mahaney affirmed his Buy rating on Netflix (Nasdaq: NFLX).
On the downside
Profit taking sank shares of MetroPCS (NYSE: PCS) whose stock price soared yesterday on news that the cellphone carrier would be acquired by T-Mobile parent Deutsche Telekom.
Antares Pharma (Nasdaq: ATRS) priced its public offering of 12.5 million common shares at the discounted price of $4.00 per share.
Rigel Pharmaceuticals (Nasdaq: RIGL) priced its public offering of nearly 13.7 million common shares at the discounted price of $9.50 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 836.
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