Markets Surge On Fiscal Cliff Deal
The last minute passage of a fiscal cliff deal boosted the markets during the midday with the Dow leaping 226 points to 13,330. Nasdaq surged 67 points to 3087.
On the upside
Synergy Pharmaceuticals (Nasdaq: SGYP) reported upbeat results from a late stage clinical trial of its chronic constipation treatment plecanatide.
Seeking Alpha recommended acquiring shares of Turquoise Hill Resources (NYSE: TRQ) on Monday.
LDK Solar (NYSE: LDK) announced the sale of LDK Anhui to Shanghai Qianjiang Group.
On the downside
Shares of Mindray Medical (NYSE: MR) fell after the re-election of two directors on Monday. NTELOS Holdings (Nasdaq: NTLS) continued falling after Seeking Alpha raised concerns about the telecom's earnings growth and debt.
Oppenheimer warned that EMC (NYSE: EMC) would fall short of expectations for the fourth quarter.
In the broad market, advancing issues outpaced decliners by a margin of 12 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index advanced 24 points to 1450.
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